August 31, 2017
SEC CDO CASE NO. 07-17-044
IN THE MATTER OF THE SEASHORE BEACH CLUB, INC.
ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT, movant.
CEASE AND DESIST ORDER
This resolves the Motion for Issuance of Cease and Desist Order 1 (Motion) filed, on 14 July 2017, by the Enforcement and Investor Protection Department (EIPD) praying that THE SEASHORE BEACH CLUB, INC. (SEASHORE) and its representatives/agents be enjoined from further selling and/or offering for sale club membership share certificates that can be considered as proprietary shares until the requisite registration statement is duly filed and approved by the Commission, and the corresponding license to offer/sell issued.
SEASHORE is a stock corporation registered with the Commission on 16 June 2016 with Company Registration No. CS201612679. 2 Its principal office is located at 1203 Entrata Building, Civic Drive, Alabang, Muntinlupa City, Metro Manila. Its primary purpose, as stated in its Articles of Incorporation, is:
"To lease, buy, purchase, own, develop, manage, operate beach club leisure facilities encompassing water sport activities on shore in various strategic beach areas in the country; to sell and issue beach...
