Request for Comments on the Proposed Guidelines on Corporate Term

March 22, 2019SEC NOTICETO:All Interested Parties   SUBJECT:Request for Comments on the Proposed Guidelines on Corporate Term Pursuant to Section 179 of Republic Act No. 11232, otherwise known as the Revised Corporation Code, the Securities and Exchange Commission intends to issue Guidelines on Corporate Term. Hence, the Commission is inviting all interested parties, market participants and the investing public to submit their views, comments and inputs to the proposed Guidelines.Commenters may submit, not later than 5 April 2019, their views, comments and inputs electronically to Assistant Director Sampaguita R. Ladrido, through email address: [email protected].The draft SEC Memorandum Circular is attached for reference.ATTACHMENTDRAFTSEC MEMORANDUM CIRCULAR No. ______Series of 2019TO:ALL CONCERNED   SUBJECT:GUIDELINES ON CORPORATE TERM (Pursuant to Section 11 [Corporate Term] of the Revised Corporation Code of the Philippines)Whereas, Republic Act No. 11232, or the Act Providing for the Revised Corporation Code of the Philippines ("the Code") was approved on February 20, 2019 and took effect on February 23, 2019; CAIHTEWhereas, under Section 11 of the Revised Corporation Code, the term of existence of a corporation shall...