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PALSCON acknowledges that, by inadvertent mistake or by failure to properly communicate, Article II Section 3 of its Code of Ethics has been understood to mean that PALSCON Members are not allowed under any circumstances to compete with each other for clients and employees. This understanding, however, may result in substantially preventing, restricting or lessening competition among its Members.

PALSCON therefore hereby clarifies that it endeavors to promote an environment of healthy competition among industry players through the observance of fair and honest business competition practices, and the sharing of best business practices among industry players. It further recognize the importance of maintaining a free and fair market competition as a mechanism for allocating goods and services

Accordingly, and consistent with its commitment under Article II Section 2 of its Code of Ethics to promote healthy competition among its Members and industry players, PALSCON has voluntarily revised Article II, Section 3 of the Code of Ethics as follows:

鈥淧ALSCON does not support, tolerate or condone anti-competitive practices between its members. PALSCON members shall not propose, or support agreements, conduct, policies or regulations which are anti-competitive in nature.鈥�

The amendment of Article II, Section 3 of the Code of Ethics is in line with the effort of PALSCON to promote free competition while maintaining and advocating sound business practices among its members. PALSCON acknowledges that its failure to comply with any of its solemn commitments that it submitted to the Philippine Competition Commission or PCC may result in a fine pursuant to Section 6.10 of the 2017 PCC Rules of Procedure