Wednesday, March 25, 2015

2015 REVISED IRR OF RA 9520 - PART 3


TERMS AND DEFINITIONS (Continued...}



17.  Electric Cooperative - refers to a cooperative organized primarily for the purpose of undertaking power generation, utilizing renewable energy sources, including hybrid system, acquisition and operation of sub-transmission or distribution to its household members.


    For purposes of this definition the following terms shall mean:

    a.  Distribution of Electricity - refers to the conveyance of electric power by a distribution utility through its distribution system pursuant to the provisions of the EPIRA Law.


    b.  Distribution Utility - refers to any Electric Cooperative, private corporation, government-owned utility, or existing local government unit which has an exclusive franchise to operate a distribution system in accordance with the EPIRA Law.


    c.  EPIRA - refers to the Electric Power Industry Reform Act of 2001.


    d.  Referendum  - refers to a mechanism to secure the approval of the general membership of an Electric Cooperative on issues relative to its registration, operation, and management.


    e.  Renewable Energy Resources - refer to energy resources such as, but not limited to biomass, solar, wind, hydro, geothermal and ocean energy.  These resources do not have an upper limit on the total quantity of energy to be used and are renewable on a regular basis, the renewable rate of which is rapid enough to consider availability over an indefinite time.


    f.  Sub-transmission Assets - refer to facilities related to the power delivery service below the transmission voltages and based on the functional assignment of assets, including, but not limited to, step-down transformers used solely by load customers, associated switch yard/substation, control and protective equipment, reactive compensation equipment to improve customer power factor, overhead lines, and the land where such facilities/equipment are located.  These include NPC assets linking transmission system and the distribution system which are neither classified as generation nor transmission.


    g.  Supply of Electricity - refers to the sale of electricity by a party other than a generator or a distributor in the franchise area of a distribution utility using the wires of the distribution utility concerned.


    h.  Transmission of Electricity - refers to the conveyance of electricity through the high voltage system.


    18.  Escheat - refers to the power of the State to succeed to property, real or personal, for which there is no owner, heir or claimant.


    19.  Extension Offices - refers to the regional offices of the Authority.


    20.  Financial Service Cooperative - refers to a cooperative organized for the primary purpose of engaging in savings and credit services and enhanced financial services subject to the regulations of the Bangko Sentral ng Pilipinas (BSP).


    For purposes of this definition the following terms shall mean:

    a.  BSP - refers to the Bangko Sentral ng Pilipinas.

    b.  Conservator - refers to any person appointed by the Authority empowered to take charge of the assets, liabilities and the management of the cooperative, after finding that the cooperative is in a state of continuing inability or unwillingness to maintain a condition of liquidity which is deemed adequate to protect the interest of members and creditors of the cooperative.


    c.  Internal Control - refers to all the system and procedures adopted to safeguard the cooperative's assets, check the accuracy and reliability of its accounting data, promote operational efficiency, and encourage adherence to prescribed managerial policies.


    d.  Receiver - refers to any person of recognized competence appointed by the Authority and is empowered to take charge and administer all the assets and liabilities of the cooperative for the benefit of its creditors and exercises such other powers as provided under the Revised Rules of Court.


    21.  General Assembly - refers to the full membership of the cooperative duly assembled for the purpose of exercising all the rights and performing all the obligations pertaining to cooperatives as provided by this Code, its Articles of Cooperation and By-laws.


    22.  Housing Cooperative - refers to a cooperative organized to assist or provide access to housing for the benefit of its regular members, who actively participate in the savings program for housing.  It is co-owned and controlled by its members.


    For purposes of this definition the following terms shall mean:

    a.  Blanket Loan/Wholesale Loan - refers to a housing loan contracted/obtained by a housing cooperative intended to identify member-beneficiaries for land acquisition, land improvement, house construction, home improvement, or renovation and other similar purposes.


    b.  Cooperative Housing Program - refers to an alternative housing approach, in partnership with government/non-government agencies involved in a housing program, undertaken by a financially and organizationally stable cooperative to address the housing problems of its members, primarily the low-income earners, through its own cooperative efforts in planning and direct production of affordable, decent and adequate housing units.


   c.  DBP - refers to the Development Bank of the Philippines.


    d.  DENR - refers to the Department of Environment and Natural Resources.


    e.  HDMF - refers to the Home Development Mutual Fund or Pag-IBIG Fund.


    f.  HGC - refers to the Home Guaranty Corporation.

    g.  HLURB - refers to the Housing and Land Use Regulatory Board.


    h.  HUDCC - refers to the Housing and Urban Development Coordinating Council.


    i.  Housing Beneficiaries - refer to regular members in good standing of the Housing Cooperative who actively participate in the savings programs for housing and qualify to own a unit as provided in the By-laws and duly approved internal policies of the cooperative.


    j.  LBP - refers to the Land Bank of the Philippines.


    k.  NHA - refers to the National Housing Authority.


    l.   SSS - refers to the Social Security System.


    m.  Socialized Housing - refers to the housing program and project undertaken by the government and private sector for the underprivileged and homeless which may also be undertaken by a Housing Cooperative.  This includes sites and services development, long-term financing and liberalized terms on interest payments.


    n.  SHFC - refers to the social Housing Finance Corporation.


    o.  Technical Plan - refers to all technical documents required in planning a housing project, namely, the bar chart and construction schedule, systematic development plan, the architectural and detailed engineering and housing design, contract documents, technical and material specification.


    22.  Insurance Cooperative - refers to a cooperative engaged in the business of insuring life and property of the constituting cooperatives and their members.  It shall also refer to Cooperative Insurance Societies (CIS).

    For purposes of this definition the following terms shall mean:

    a.  Commission - refers to the Insurance Commission.


    b.  Insurance-like Activity - refers to any activity involving regular collection of premiums, fees, contributions, or charges prior to the occurrence of the contingent event and the payment of guaranteed benefits upon the occurrence of such event.  The term excludes risk pooling practices such as "damayan" or "abuloy" system wherein the individual or group of individuals voluntarily pledge and contribute a certain amount of money to a fund and he benefits are not pre-determined but are contingent to the amounts collected.


    c.  Micro-insurance - refers to an activity providing specific insurance and other similar products and services that meet the needs of the low-income sector for risk protection and relief against distress, misfortune and other contingent events.  This shall include all forms of insurance  and other similar activities, as may be defined by concerned regulatory bodies with features such as:  premiums, contributions, fees or charges collected/deducted prior to the occurrence of a contingent event and guaranteed benefits provided upon the occurrence of a contingent event.


    d.  Micro-insurance Product - refers to a financial product or service that meets the risk protection needs of the poor where the amount of premiums, contributions, fees or charges computed on a daily basis does not exceed seven and a half percent (7.5%) of the current daily minimum wage rate for non-agricultural workers in Metro Manila, as approved by the National Wages Productivity Board (NWPB)/Regional Tripartite Wages Productivity Board (RTWPB), and the maximum sum of guaranteed benefits is not more than 1,000 times the daily minimum wage rate for non-agricultural workers in Metro Manila.


    e.  Regular Insurance Product - refers to all other insurance policies not covered by Micro-Insurance Product.


    23.  Laboratory Cooperative - refers to a cooperative duly recognized by the Authority, formed and managed principally by minors and is affiliated with another registered cooperative which is called the guardian cooperative.


    For purposes of this definition the following terms shall mean:

    a.  Guardian Cooperative - refers to a duly registered with which a laboratory cooperative is affiliated.


    b.  Minor - refers to an individual below eighteen (18) years of age.


    24.  Labor Service Cooperative - refers to a cooperative organized primarily to engage in providing a specific work, job, or service to a principal under a contracting or subcontracting arrangement as may be defined under existing laws and in accordance with the cooperative principles set forth under the Philippine Cooperative Code of 2008 (RA 9520).


    25.  Liquidation - refers to the process of settlement and closure of the cooperative affairs, disposition, conveyance and distribution of its assets.


    For purposes of this definition the following terms shall mean:

    a.  Voluntary Dissolution - refers to the termination of the juridical personality of the cooperative at its own initiative or instance after complying with the requirements set forth in the Code, these rules and issuances by the Authority.


    b.  Involuntary Dissolution - refers to the termination of the juridical personality of the cooperative through an appropriate judicial proceeding or by Order of the Authority.


    26.  Member in Good Standing - refers to regular members who are entitled to vote and to such other privileges as provided in the By-laws.


    27.  Merger - refers to a union of two or more existing cooperatives belonging the same category whereby the surviving cooperative, retaining its identity, absorbs one or more constituent cooperative/s.


    For purposes of this definition the following terms shall mean:

    a.  Certificate of Merger - refers to the document issued by the Authority evidencing registration of merger.


    b.  Consolidation - refers to a union of two or more existing cooperatives belonging to the same category to form a new cooperative called the consolidated cooperative.


    c.  Constituent Cooperatives - refers to two or more existing cooperatives which are parties to a merger or consolidation.


    d.  Plan of Merger or Consolidation - refers to a written document containing the proposed merger or consolidation of cooperatives duly approved by the General Assembly or each of the constituent cooperatives at separate General/Representative Assembly Meetings.


    e.  Registration - refers to the operative act granting juridical personality to a proposed cooperative as evidenced by a Certificate of Registration.


    28.  Multi-purpose Cooperative - refers to a cooperative, which combines two (2) or more business activities.


    29.  Primary Cooperative - refers to a cooperative, the members of which are natural persons.  In case of electric and water service cooperatives, institutional users may be accepted as associate members.


    30.  Regular Members - refers to one who has complied with all the membership requirements and is entitled to all the rights and privileges of membership.


    31.  Reports - refer to any document or statement to be submitted regularly by the cooperative to the Authority.


    For purposes of this definition the following term shall mean:

    a.  Sanctions - refer to the penalties provided for in the By-laws of the cooperative, these Rules, and other administrative issuances of the Authority, the Code and other related laws.


    32.  Representative Assembly - refers to the full membership of the body of representatives elected from each of the sectors, chapters or districts of the cooperative, duly assembled for the purpose of exercising such powers lawfully delegated by the general assembly in accordance with the By-laws of the cooperative.


    For purposes of this definition the following terms shall mean:

    a.  Election Deputies - refer to those members of the cooperative from the sector, chapter or district appointed by the election committee as approved by the board of directors, tasked to facilitate the conduct of the election of the Representative/Delegate in their respective sector, chapter or district, in accordance with the By-laws of the cooperative, which shall not be more than five (5) for each sector, chapter, or district.


    b.  Representative/Delegate - refers to a member duly elected during the sector, chapter or district meetings who shall represent his/her sector, chapter or district to the representative assembly meeting.


    c.  Numerous and Dispersed Membership - refers to a cooperative with a large number of membership who are scattered/dispersed by reason of geographical location, work shift or other similar conditions making it impossible and difficult to conduct its general assembly meeting.


    d.  Sector, Chapter or District - refers to an aggrupation of a cooperative, membership, by reason of geographical location, work shift or other similar conditions.


    e.  Sequential Election of Representative - refers to the election of the representatives during meetings held in sequence, in different days and/or various venues, by several sectors, chapters or districts of a cooperative for the purpose of electing their respective Representatives to the representative assembly meeting.


   f.  Simultaneous Election of Representative - refers to the election of the representatives during the meetings held, on the same day and at various venues, by several sectors, chapters, or districts of a cooperative for the purpose of electing their respective Representatives to the representative assembly meeting.


    33.  Service Cooperative - refers to a cooperative organized primarily to provide any type of service to its members including, but not limited to, labor, transport, information and communication, insurance, housing, electric, health services, education, banking and savings, and credit.


    34.  Secondary Cooperative - refers to a cooperative the members of which are primary cooperatives.


    35.  Subsidiary Cooperative - refers to a cooperative all or majority of whose membership or shareholders come from a cooperative called a parent cooperative.  It is organized for a purpose other than that of the parent cooperative, and receives technical, managerial, and financial assistance from the said parent cooperative.


    For purposes of this definition the following term shall mean:

    a.  Parent Cooperative - refers to a cooperative which organizes a subsidiary and provides technical, managerial and financial assistance thereto.


    36.  Tertiary Cooperative - refers to a cooperative, the members of which are secondary cooperatives.


    37.  Transportation Service Cooperative - refers to a cooperative organized primarily to provide land and sea/water transportation, provided that  sea/water transportation shall be limited to small vessels as defined under Philippine Maritime laws.


    For purposes of this definition the following terms shall mean:

    a.  Accreditation - refers to the recognition extended by the OTC to a registered Transportation Service Cooperative, as evidenced by a Certificate of Accreditation.


    b.  CPCN/Franchise/Permit - refers to the Certificate of Public Conveyance and Necessity issued by the appropriate government agency.


    c.  Cooperative Education and Transport Operation Seminar (CETOS) - refers to seminars conducted by OTC for the purpose of providing continuing education on cooperative and transport service operations to enhance the knowledge and capability of the officers and members of the Transport Service Cooperative.


    d.  DILG - refers to the Department of the Interior and Local Government.


    e.  DOTC - refers to the Department of Transportation and Communications.


    f.  LGU - refers to the Local Government Unit.


    g.  LTFRB - refers to the Land Transportation Franchising and Regulatory Board.


    h.  LTO - refers to the Land Transportation Office.


    i.  MARINA - refers to the Maritime Industry Authority.


    j.  OTC - refers to the Office of Transportation Cooperatives.


    k.  PCG - refers to the Philippine Coast Guard.


    38.  Water Service Cooperative - refers to a cooperative organized primarily to own, operate and/or manage water supply distribution system to serve its members and their households.


    For purposes of this definition the following terms shall mean:

    a.  LWUA - refers to the Local Water Utilities Administration, created under PD 198, as amended.


    b.  NWRB - refers to the National Water Resources Board, created under PD 424.


    c.  Water Permit - refers to the authority to appropriate and use water issued by the NWRB.


    d.  Water Right - refers to the privilege granted by the government to appropriate and use water.


    e.  Water Tariff - refers to the water rate charged for water consumption as determined by the cooperative and approved by the NWRB.


    39.  Workers Cooperative - refers to a cooperative organized primarily by workers, including the self-employed, who are at the same time the member-owner of the enterprise, the purpose of which is to provide employment, business opportunities to its member-owners in accordance with the cooperative principles.

(End of "Titles and Definitions".  To be continued...). 

What came before this post, pls. visit www.cooperativesphilippines.com/2015/03/2015-revised-ra-9520-irr-part-2.html 

For what follows this post, pls. visit:  www.cooperativesphilippines.com/2015/03/rep-assembly-2015-revised-irr-of-ra-9520.html


     

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