The House Committee on Appropriations has approved the funding provision for a measure that aims to authorize the Securities and Exchange Commission (SEC)  to monitor or investigate private foundations, non-government organizations (NGOs) and other similar groups.

The funding provision, which states that the amount necessary to implement the bill shall  be included in the General Appropriations Act, is a key feature that would speed up its approval at the plenary level.

The substitute bill replacing the original  measure—House Bill 4449—was authored by Representatives  Joaquin Chipeco Jr. of Laguna,  Sonny Collantes of  Batangas and Julieta Cortuna  of the A-TEACHER partylist group.

A-TEACHER is a partylist ally of the National Unity Party (NUP) under the Coalition for Peace and Development.

Under the measure, the SEC will be empowered to investigate the practices of any NGO,  foundation or any other  similar organization when there exists probable cause showing that it is  either  a) committing,  b) attempting or conspiring to commit, c)  participating in, or d) facilitating,  an illegal act.

“This bill aims to address the deficiency in our laws by empowering the SEC to monitor charitable organizations, foundations and NGOs to protect the people from unscrupulous practices," said the bill’s authors.

They said the measure authorizes the SEC to subpoena witnesses, administer oaths, and take testimony or evidence relevant to its  investigation.



The bill also provides that the SEC may enlist the assistance of any branch, department, bureau, office, agency or instrumentality of the government, including government-owned and -controlled corporations GOCCs) in undertaking its monitoring and investigatory functions.

It also mandates the SEC to furnish the  appropriate law enforcement agencies with the official results of its investigation.