September 25, 2003
SEC WARNING
RE : Phil-Asia Care Plans, Inc.
The Commission wishes to inform the public that the Resolution issued by the Eighth Division of the Court of Appeals in CA-G.R. SP No. 73009 * (Phil-Asia Care Plans, Inc. versus Securities and Exchange Commission) enjoining the Commission from enforcing and implementing its orders dated May 28, 2002 and September 3, 2002 ** permits the petitioners to do only the following acts:
(i) selling or offering for sale pre-need plans covered by the Certificates of Permit to Offer Securities for Sale dated December 28, 1990, October 31, 1991 and July 26, 1993;
(ii) collecting amortizations and
(iii) conducting those activities at its principal office located at 12 D 12th Floor Belvedere Tower, San Miguel Avenue, Ortigas Center, Pasig City
Therefore, any transaction pertaining to a pre-need plan not covered by any of the three above-mentioned Certificates of Permit to Offer Securities for Sale and amortizations pertaining thereto is covered by the SEC Cease and Desist Order dated May 28, 2002. ***
In addition, the said Resolution also stated that "the reopening of...
