Common use of Sector Clause in Contracts

Sector. All sectors Sub-Sector : - Industry Classification : - Level of Government : Central Type of Obligation : National Treatment Senior Management and Board of Directors Description of Measure : National Treatment shall not apply to measures affecting the establishment of a corporation, partnership, sole proprietorship, association or branch office of a foreign corporation. The operations of these entities shall be subject to their continuing compliance with registration and qualification requirements. Domestic corporations shall comply with the following requirements: 1. Majority of the incorporators must be residents of the Philippines. 2. Corporate secretary shall be a resident and citizen of the Philippines.