December 21, 1993
SEC-SMD * MEMORANDUM CIRCULAR NO. 05-93
| SUBJECT | : | Compromise Penalties for Non-Filing/Late Filing of Reportorial Requirements by Corporations Under the Terms and Conditions of Their Permit to Sell Securities to The Public. |
Pursuant to the powers of the Securities and Exchange Commission under the Revised Securities Act, P.D. 902-A, the Corporation Code and other applicable laws enforced by the Commission, in order to comply with the Registration Statement, in the interest of full disclosure and for the protection of the investors, corporations which have defaulted in the submission of required reports under the terms and conditions of their permit to sell securities to the public shall be allowed to pay the compromise penalties until April 30, 1994 under this Circular. Cdpr
SECTION 1. Scope. — This Circular shall apply to corporations whose securities are registered under the Revised Securities Act, except issuers/brokers/dealers in pre-need plans, commodity futures, commercial papers, bonds, warrants, asset back securities, investment companies and those whose securities are listed/traded in the stock exchanges and shall cover all reportorial requirements under the terms and...
