Revised Corporation Code
Section 168. Tolerating Graft and Corrupt Practices; Penalties. - A director, trustee, or officer who knowingly fails to sanction, report, or file the appropriate action with proper agencies, allows or tolerates the graft and corrupt practices or fraudulent acts committed by a corporation's directors, trustees, officers, or employees shall be punished with a fine ranging from Five hundred thousand pesos (₱500,000.00) to One million pesos (₱1,000,000.00).