Benefits and Services
Benefits and Services
Benefits and Services
(A) Statements of Assets and Liabilities and Financial Disclosure. It shall be unlawful for any person to obtain or use any
statement filed under this Act for:
All public officials and employees, except those who (a) any purpose contrary to morals or public policy; or
serve in an honorary capacity, laborers and casual or (b) any commercial purpose other than by news and
temporary workers, shall file under oath their communications media for dissemination to the general public.
Statement of Assets, Liabilities and Net Worth and a
Disclosure of Business Interests and Financial Section 9. Divestment. - A public official or employee shall avoid
Connections and those of their spouses and unmarried conflicts of interest at all times. When a conflict of interest arises,
children under eighteen (18) years of age living in their he shall resign from his position in any private business enterprise
households. within thirty (30) days from his assumption of office and/or divest
The two documents shall contain information on the following: himself of his shareholdings or interest within sixty (60) days from
(a) real property, its improvements, acquisition costs, assessed such assumption.
value and current fair market value;
(b) personal property and acquisition cost; The same rule shall apply where the public official or employee is
(c) all other assets such as investments, cash on hand or in banks, a partner in a partnership. The requirement of divestment shall
stocks, bonds, and the like; not apply to those who serve the Government in an honorary
(d) liabilities, and; capacity nor to laborers and casual or temporary workers.
(e) all business interests and financial connections.