December 19, 2019
SEC MEMORANDUM CIRCULAR NO. 24-19
| TO | : | Public Companies and Registered Issuers |
| SUBJECT | : | Code of Corporate Governance for Public Companies and Registered Issuers |
To promote the development of a strong corporate governance culture and keep abreast with recent developments in corporate governance best practices, the Commission, pursuant to its regulatory power under Section 179 (d) of Republic Act No. 11232 otherwise known as the Revised Corporation Code of the Philippines, resolved to adopt the Code of Corporate Governance for Public Companies and Registered Issuers ("CG Code for PCs and RIs").
(1) The CG Code for PCs and RIs supersedes the following SEC Memorandum Circulars:
a) SEC Memorandum Circular No. 6, Series of 2009 (Revised Code of Corporate Governance);
b) SEC Memorandum Circular No. 9, Series of 2014 (Amendment to the Revised Code of Corporate Governance); and
c) SEC Memorandum Circular No. 4, Series of 2017 (Term Limits of Independent Directors).
The aforementioned Memorandum Circulars shall remain in effect for other covered companies, when applicable.
(2) All other relevant Memorandum Circulars on corporate governance shall remain in force...
