Rules Prescribing the Penalties for Non-Filing or Late Filing of Annual Financial Statements (As Amended)

April 24, 1970RULES PRESCRIBING THE PENALTIES FOR NON-FILING OR LATE FILING OF ANNUAL FINANCIAL STATEMENTS (AS AMENDED)Under and by virtue of the powers vested in this Commission under existing laws, particularly Section 1(b) of Republic Act No. 1143, the following schedule of fines for non-filing or late filing of annual financial statements required under the "Rules Requiring the Keeping of Accounting Records and Filing of Annual Financial Statements by Stock Corporation", is hereby promulgated: llcd*I. For non-filing or late filing within the prescribed period as specified hereunder in III (A and B) of annual financial statements of corporations whose securities are not registered under the Securities Act:A. First violation — Fine of P25.00 and an additional P10.00 per day for each day of default.B. Second violation — Fine of P50.00 and an additional P20.00 per day for each day of default.C. Third and subsequent violations. — Fine of P100.00 each and an additional P30.00 per day for each day of default.*II. For non-filing or late filing within the prescribed period of annual financial statements of...