Magna Carta for Micro, Small and Medium Enterprises, as Amended, Republic Act No. 9501 (Philippines)

The Act increased the threshold value to qualify as a Micro, Small and Medium Enterprise (MSME), and stated that the definition of MSME may be subject to review and adjustment by the Micro, Small and Medium Enterprises Development (MSMED) Council, or upon recommendation of sectoral organizations taking into account the inflation and other economic indicators. It further provided for a penal clause to punish MSMEs, or their individual officers or agents, who have committed misrepresentation in availing the benefits of the Act. It now requires that the MSMED shall now be known as the MSMED Council, which shall be the primary agency responsible for the promotion, growth and development of MSMEs in the country. 

The Act requires that lending institutions regulated by the Bangko Sentral ng Pilipinas shall set aside mandatory allocation of credit resources of at least 8% for micro and small enterprises, and 2% for medium enterprises of their total loan portfolio based on their balance sheet as of the end of the previous quarter.