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Sec. 13. BMBE Development Fund. As stated in Sec. 10 of the Act, a
BMBE Development Fund shall be set up with an endowment of Three Hundred
Million Pesos (P300, 000,000.00) from the PAGCOR and shall be administered
by the SMED Council.
The DTI, DOST, UP ISSI, CDA, TESDA, and TLRC may avail of the said
Fund for technology transfer, production and management training and marketing
assistance to BMBEs.
Sec. 14. Trade and Investment Promotion. The data gathered from
business registration shall be made accessible to and shall be utilized by
private sector organizations and non-government organizations for purposes
of business matching, trade and investment promotion.
Sec. 15. One-Stop Business Registration Center. LGUs are encouraged
to establish a One- Stop Business Registration to handle the efficient registration
and processing of permits/licenses of BMBEs.
IV. INFORMATION DISSEMINATION
Sec. 16. Information Dissemination. The Philippine Information Agency
(PIA) in coordination with the concerned agencies (DOLE, the DILG, and the
DTI) shall ensure the proper and adequate information dissemination of the
contents and benefits of the Act to the general public especially to its intended
beneficiaries in the barangay level.
V. PENALTY
Sec. 17. Penalty. Any person who shall willfully violate any provision of
the Act or who shall in any manner commit any act to defeat any provision of
the Act shall, upon conviction, be punished by a fine of not less than Twenty-
five Thousand Pesos (P25, 000.00) but not more than Fifty Thousand Pesos
(P50, 000.00) and suffer imprisonment of not less than six (6) months but not
more than two (2) years.
In case of non-compliance with the provisions of Section 9 of the Act, the
BSP shall impose administrative sanctions and other penalties on the concerned
government financial institutions, including a fine of not less than Five Hundred
Thousand Pesos (P500, 000.00).
VI. MISCELLANEOUS PROVISIONS
Sec. 18. Annual Report. The DILG, DTI, and BSP shall submit Annual
Reports to Congress on the status of the implementation of the Act.