This Policy shall apply to the Board of Directors, officers and employees regardless of status of appointment, including contractual employees and consultants of TIEZA.

All officers and employees shall NOT solicit or accept, directly or indirectly, any gift, gratuity, favor, entertainment, loan, or use, or anything of monetary value (“gift”) from a person, group, association, juridical entity, whether from the public or private sector, at any time, on or off the work premises, in the course of their official duties or in connection with any operation being regulated by the functions of their office where such gift:

  1. Would be illegal or in violation of law;
  2. Is part of an attempt or agreement to do or refrain from doing anything in return;
  3. Has a value beyond what is normal and customary in the business of TIEZA;
  4. Is being made to influence the officers and employees’ actions as such; or
  5. Could create the appearance of a conflict of interest.

Penalties for Violation

Violation by any Director, officer or employee of this Policy shall be dealt with in accordance with the Revised Rules on Administrative Cases in the Civil Service, without prejudice to any administrative, civil or criminal liability that may arise therefrom under the substantive and special laws.

Legal Bases:

Section 29, GCG Memorandum Circular No. 2012-07 (Code of Corporate Governance for GOCCs)
Section 3, GCG Memorandum Circular No. 2013-05 (Interim 2013 Performance-Based Bonus for Officers and Employees)