When did the Revised Corporation Code take effect?

The Revised Corporation Code of the Philippines took effect on February 23, 2019. This date is significant because it marked the implementation of a comprehensive set of reforms aimed at improving the regulatory environment for business corporations in the country. The code introduced several updates, including provisions on the protection of minority shareholders, enhanced corporate governance standards, and the removal of the mandatory requirement for a minimum number of directors, allowing for a more flexible corporate structure.

The other dates listed do not align with the official enactment date. For instance, January 1, 2018, predates the actual implementation, while March 15, 2020, and December 31, 2019, are also incorrect as they are after the effective date. Thus, February 23, 2019, is recognized as the correct date when businesses and legal entities began operating under the Revised Corporation Code.