NATIONAL
Advocates Philippines
Sen. Mark Villar Proposes Vital Amendments To Internet Transactions Act, Introduces E-Commerce Bureau Enhancements
Photo credit: Senate PH
During a plenary session held on Tuesday, August 22, 2023, Sen. Mark A. Villar unveiled a series of individual amendments aimed at bolstering the provisions of Senate Bill No. 1846, popularly recognized as the Internet Transactions Act of 2022. The central feature of these revisions is the conceptualization and empowerment of the Electronic Commerce Bureau (E-Commerce Bureau), which is poised to play a pivotal role in shaping the nation's digital commerce landscape.
One of the most noteworthy modifications brought forth by Sen. Villar is the comprehensive overhaul of Section 9, encompassing both the composition and functions of the E-Commerce Bureau. In his proposed amendments, Sen. Villar envisions a more robust and dynamic development of emerging players within the digital commerce realm.
The amended Section 8 outlines the bureau's fundamental powers and functions, underscoring its pivotal role in regulating and fostering the growth of the e-commerce sector. The proposed paragraphs of the amended Section 8 encompass the following:
a) Formulation of Policies for Dynamic Growth The E-Commerce Bureau will be entrusted with the task of formulating policies, plans, and programs aimed at ensuring the robust and dynamic development of nascent businesses within the digital commerce domain. This amendment underscores the importance of nurturing newcomers and facilitating their integration into the evolving digital landscape.
b) Stringent Implementation and Monitoring Sen. Villar's amendments emphasize the necessity of strict compliance with the provisions of the Internet Transactions Act. The E-Commerce Bureau is mandated to oversee the implementation of the act's provisions, ensuring that digital platforms, online merchants, and individuals involved in internet transactions adhere to the established regulations.
c) Mandatory Registration and Information Disclosure To facilitate informed policymaking and program development, Sen. Villar's amendments propose that digital platforms, online merchants, and any entity engaged in internet transactions must register their business with the E-Commerce Bureau. This requirement will entail the submission of essential business information, contributing to a more comprehensive understanding of the sector's dynamics.
d) Identification of Regulatory Gaps and Recommendations The E-Commerce Bureau is tasked with identifying regulatory gaps that may impede the growth of the e-commerce sector. To this end, Sen. Villar's amendments empower the bureau to recommend appropriate executive or legislative measures aimed at fostering the continued expansion of the digital commerce industry.
One of the most noteworthy modifications brought forth by Sen. Villar is the comprehensive overhaul of Section 9, encompassing both the composition and functions of the E-Commerce Bureau. In his proposed amendments, Sen. Villar envisions a more robust and dynamic development of emerging players within the digital commerce realm.
The amended Section 8 outlines the bureau's fundamental powers and functions, underscoring its pivotal role in regulating and fostering the growth of the e-commerce sector. The proposed paragraphs of the amended Section 8 encompass the following:
a) Formulation of Policies for Dynamic Growth The E-Commerce Bureau will be entrusted with the task of formulating policies, plans, and programs aimed at ensuring the robust and dynamic development of nascent businesses within the digital commerce domain. This amendment underscores the importance of nurturing newcomers and facilitating their integration into the evolving digital landscape.
b) Stringent Implementation and Monitoring Sen. Villar's amendments emphasize the necessity of strict compliance with the provisions of the Internet Transactions Act. The E-Commerce Bureau is mandated to oversee the implementation of the act's provisions, ensuring that digital platforms, online merchants, and individuals involved in internet transactions adhere to the established regulations.
c) Mandatory Registration and Information Disclosure To facilitate informed policymaking and program development, Sen. Villar's amendments propose that digital platforms, online merchants, and any entity engaged in internet transactions must register their business with the E-Commerce Bureau. This requirement will entail the submission of essential business information, contributing to a more comprehensive understanding of the sector's dynamics.
d) Identification of Regulatory Gaps and Recommendations The E-Commerce Bureau is tasked with identifying regulatory gaps that may impede the growth of the e-commerce sector. To this end, Sen. Villar's amendments empower the bureau to recommend appropriate executive or legislative measures aimed at fostering the continued expansion of the digital commerce industry.
Aug 23, 2023
