August 6, 1973
RULES REQUIRING FILING OF MINUTES APPROVING CERTAIN CORPORATE ACTIONS OF INTEREST TO THE PUBLIC
In the interest and for the protection of investors particularly creditors and foreigners intending to invest in this country, the commission, pursuant to the powers vested in it under existing laws particularly the Revised Securities Act * and Republic Act No. 1143, hereby promulgates the following rules: cdlex
1. All corporations whose securities are listed in any stock exchange or with permits to sell shares to the public or with twenty (20) or more stockholders shall hereafter submit to this Commission within thirty (30) days after approval of the corporate action, certified true copies of the following documents evidencing the same to wit:
a. Minutes of meetings —
1. Calling for payment of unpaid subscriptions;
2. Increasing or decreasing the capital stock;
3. Changing the nomenclature of shares of stock or certificates of indebtedness;
4. Authorizing the borrowing of material sums of money; and
5. Authorizing material expansion program.
b. Other documents, such as:
1. Certificates changing the composition of the board of directors and officers:
2. Certificates changing the...
