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TRANSPARENCY
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PNCC
has developed two codes, the "PNCC Codes of Conduct"
and the "PNCC Code of Employee Discipline (CCED)".
It contains the preambular portion or the "Declaration
of Principles", which details out the requirements
for the successful implementation of the Codes. It starts
with the commitment of the management in providing for
just and lawful conditions of employment, and complemented
by the principles that should govern employees as they
uphold the interests of the company. |
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The
Code of Conduct lays out the management expectations
of ethical conduct or behavior of employees covered
thereby. The Code of Employee Discipline, on the other
hand, enumerates the violations of the Code of Conduct
and the penalties or sanctions for each violation. Management
maintains its inherent right to discipline or dismiss
employees for any offense or violation contained in
the Code. |
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GOVERNANCE
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The
Code on Employee Discipline, moreover, outlined the
"General Rules in the Imposition of Penalties,"
which are to be administered by the Administrative Board,
or any supplementary Board provided for therein. The
Code also addresses the matter of sexual harassment
and illustrated the reach of "relatives within
the fourth degree of consanguinity and affinity."
Division heads were given the authority to discipline
employees for obvious offenses, such as absences and
tardiness, among others. |
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Complementary
to the above are the "Safety, Health, and Environment
Codes" which detail out the penalties or sanctions
for specialized offenses or violations in these areas. |
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Meanwhile,
the Board of Directors, by adopting the Manual of Corporate
Governance 2017 and provisions of GCG's Code of Corporate
Governance, the company is committed to observe the
principles of fairness, accountability and transparency.
The Board of Directors believes that this will significantly
enhance PNCC's corporate governance systems and make
it an able partner in national development. |
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| PRESIDENT'S
CORNER |
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The
following are the policies of the Company on Conduct and
Ethics: |
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Business
Conduct and Ethics |
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Directors |
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Employees |
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Conflict
of Interest |
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Directors
and officers shall at all times avoid any actual or
potential conflict of interest with the GOCC. Each
shall also avoid any conduct, or situation , which could
reasonably be construed as creating an appearance of
a conflict of interest. |
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All
employees shall not directly ot indirectly participate
for their personal gain in any business transaction
or contact entered into by the company and shall strictly
avoid conflict of interest in the performance of their
functions. Conflict of interest is deemed to exists
where a PNCC employee has or acquires a financial or
other interest of a personal nature in any business
enterprise or transaction in which he may be called
upon to act (for example, to approve, recommend action,
make a study, or make findings of fact) in a manner
detrimental to the interest of the company by reason
of his personal involvement in such business enterprise
or transaction. (Section
IX of CCED) |
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Any
question about a Director's or Officer's actual or potential
conflict of interest with the GOCC shall be brought
promptly to the attention of the Chairman of the Board,
who will review the question and determine an appropriate
course of action. (Section
27.1 of Code of Corporate Governance for GOCC (GCG Memo
Circular No. 2012-07) |
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CONTACT
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Conduct
of Business and Fair Dealings |
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The
fiduciary duty of diligence of Directors and Officers
to always act in the best interest of the GOCC, with
utmost good faith in all its dealings with the property
and monies of the GOCC, includes the obligation to: |
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All
employees shall remain truthful in dealing with their
clients , superiors or subordinates at all times. They
must act with justice and sincerity and shall not discriminate
anyone. They shall at all times respect the rights
of others, and shall refrain from doing acts contrary
to law, good morals, good customs, public policy, public
order, public safety and public interest. (Section
I-B of CCED) |
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- Exercise extraordinary diligence,
skill and utmost good faith in the conduct of the
business and in dealing with the properties of GOCC,
using the person with due regard to all the circumstances;
- Apply sound business principles
to ensure the financial soundness of the GOCC; and
- Elect and/or employ only Officers
who are fit and proper to hold such office with
due regard to the qualifications, competence, experience
and integrity. (Section
26 of Code of Corporate Governance for GOCC (GCG
Memo Circular No. 2012-07)
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Receipt
of gifts from third parties |
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No
Gift Policy. A Director or Officer shall
not solicit, nor accept, directly or indirectly, any
gift, gratuity, favor, entertainment, loan or anything
of monetary value ("Gift") from any person
where such Gift: |
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The Company prohibits all
Employees of the following: |
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Soliciting or
receiving money, gift or anything of value, from
any person, personally or through the mediation
of another, to perform an act prejudicial to the
Company or as a condition for the performance of
one's duty.
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Bribing, or offering
money, gift or anything of value to any employee,
personally of through mediation of another, to seek
or qualify for preference, benefit or favorable
condition of employment.
- Extorting/accepting bribes in cash
or in kind from clients for personal gain. (Section
I-A 4-5 of CCED)
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- would be illegal or in violation
of law;
- is part of an attempt or agreement
to do anything in return;
- has a value beyond what is normal
and customary in the GOCC's business;
- is being made to influence the matter
of Board's, or Officer's actions as such, or
- could create the appearance of a
conflict of interest. (Section
26 of Code of Corporate Governance for GOCC (GCG Memo
Circular No. 2012-07)
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Compliance
with Laws & Regulations |
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Respect
for and Obedience to the Constitution and the law. -
As Public Officials, a Director or Officer shall respect
and obey the Constitution, and shall comply, and cause
the GOCC to faithfully and timely comply, with all legal
provisions, rules and regulations, and corporate governance
standards, applicable to them and to the GOCC in which
they serve, and to act within the bounds of their charter,
Articles of Incorporation and By-laws. (Section
25 of Code of Corporate Governance for GOCC (GCG Memo
Circular No. 2012-07) |
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