Department of Justice (DOJ) facade. INQUIRER FILE PHOTO / NOY MORCOSO
MANILA, Philippines — There is no need for directors of United Coconut Chemicals, Inc. (Cocochem) from the private sector to submit their Statements of Assets, Liabilities, and Net Worth (SALNs), the Department of Justice (DOJ) said.
This was according to a legal opinion dated July 10 and signed by Justice Undersecretary Raul Vasquez, addressed to the Presidential Commission on Good Government.
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In the letter, Vasquez noted that the private directors of Cocochem were elected by the private shareholders in accordance with the Revised Corporation Code making them not public officers.
This makes the private directors “fall outside the coverage of RA (Republic Act) No. 6713, the Code of Conduct and Ethical Standards for Public Officials and Employees, which requires all public officials and employees to accomplish and submit declarations under oath of their assets, liabilities, net worth and financial and business interests.”
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This issue stemmed from previous legal opinions from the DOJ stating that Cocochem was a government-owned and controlled corporation.