Rules on Suspension/Revocation of the Certificate of Registration of Corporations

December 29, 1992RULES ON SUSPENSION/REVOCATION OF THE CERTIFICATE OF REGISTRATION OF CORPORATIONS(SMD Series of 1992)To carry out and implement the provisions of the Corporation Code and P.D. 902-A, as amended, the following rules are hereby adopted to govern the suspension or revocation of the certificate of registration of corporations. RULE IScope And Definition Of Terms SECTION 1. Scope. — These rules shall apply to the following:a) Corporations which have failed to formally organize and commence the transaction of their business or the construction of their works within two (2) years from the date of incorporation; cdlexb) Corporations which have been inoperative for a continuous period of at least five (5) years;c) Corporations which have failed to file by-laws within the prescribed period;d) Corporations which have failed to file/register for a period of at least five (5) years any of the following:d. 1) Financial Statementsd. 2) General Information Sheetd. 3) Stock and transfer book/membership bookSECTION 2. Definition. — For purposes of these Rules the following definition of terms shall apply:A) Formally Organized — A corporation shall...