Amendment to the 2005 Implementing Rules and Regulations of R.A. No. 7459
The February 3, 2010 amendment to the 2005 Implementing Rules and Regulations of R.A. No. 7459, known as the "Inventors and Invention Incentives Act of the Philippines," introduces additional provisions under Section 7. Specifically, it includes a new financing scheme allowing for the payment of guarantee premiums for inventors who utilize government bank loans aimed at supporting the commercialization of their inventions or expanding their projects. This amendment is effective immediately, enhancing the support framework for Filipino inventors.
Law Information
- Reference Number
- IRR of RA 7459 (Amendment)
- Date Enacted
- Subcategory
- Inventions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
February 3, 2010
AMENDMENT TO THE 2005 IMPLEMENTING RULES AND REGULATIONS OF R.A. NO. 7459
The 2005 Implementing Rules and Regulations of R.A. No. 7459 otherwise known as "Inventors and Invention Incentives Act of the Philippines " is hereby amended to add the following under Section 7 hereof:
7.6 Other Financing Scheme that maybe availed of:
7.6.2 Payment of guarantee premiums for inventors who will avail of the guarantee program on loan granted by the government bank to support the commercialization of their inventions and/or expansion of their project.
Effective immediately. EcHIAC
(SGD.) ESTRELLA F. ALABASTROSecretary, DOST
Cite This Law
Amendment to the 2005 Implementing Rules and Regulations of R.A. No. 7459, IRR of RA 7459 (Amendment), Feb 3, 2010 (Philippines)
Amendment to the 2005 Implementing Rules and Regulations of R.A. No. 7459, IRR of RA 7459 (Amendment) (Phil. 2010)
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