Section 8
SEC. 8. Section 11 of Republic Act No. 8762 is hereby renumbered as Section 10 and amended to read as follows: “SEC. 10. Implementing Agencies; Rules and Regulations. – The monitoring and regulation of foreign retailers allowed to engage in retail trade in the Philippines shall be the responsibility of the SEC, with respect to partnerships, associations, and corporations, or of the DTI, with respect to single proprietorships. Both agencies shall keep a record of the entities engaged in retail trade in the Philippines that are registered with them. “Within ninety (90) days after the approval of this Act, the DTI, in coordination with the SEC and NEDA, shall formulate and issue the implementing rules and regulations necessary for the implementation of this Act.”