Philippines released marked-up version of 2022 IRR of BOT Law
The Build-Operate-Transfer (BOT) Implementing Rules and Regulations (IRR) Committee in the Philippines has approved the proposed amendments to the 2022 IRR of the BOT Law on September 15, 2022.
The approved amendments are based on written comments from stakeholders during public consultations and discussions by the IRR Committee. The law will take effect in 15 days after the publication of the Revised 2022 IRR in at least 1 public newspaper or the Official Gazette.
The BOT Law IRR Committee has approved the amendments to the 2022 IRR of the BOT Law in a meeting at the Department of Finance in Manila, Philippines. The proposed BOT Law IRR update aims to find the optimal balance of risk sharing between the government and the private sector and to eliminate concerns about possible delays due to ambiguous provisions, additional steps and rigid processes.
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