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SEC lays down rules on dissolution of corporations - Vimarsana News

SEC lays down rules on dissolution of corporations

Published: March 9, 2022

MANILA - The Securities and Exchange Commission (SEC) has released the standard procedures for the voluntary and involuntary dissolution of corporations effective March 9. The commission on February 15 issued SEC Memorandum Circular No. 5, Series of 2022, providing the guidelines on corporate dissolution under Sections 134, 136 and 138 of Republic Act No. 11232, otherwise known as the Revised Corporation Code of the Philippines (RCC). Sections 134, 136, and 138 of the RCC govern the voluntary dissolution where no creditor is affected, dissolution through the shortening of a corporation's c...

Source: philippinetimes.com
Related Topics:
The PhilippinesPartnership Registration DivisionExchange CommissionMonitoring DepartmentAudit DivisionCompany RegistrationCorporation Code Of The PhilippinesRepublic ActRevised Corporation CodeFinancial AnalysisPresidential DecreeManila The Securities And Exchange Commission Sec Has Released Standard Procedures For Voluntary Involuntary Dissolution Of Corporations Effective March 9 On February 15 Issued Memorandum Circular No 5Eries Of 2022Roviding The Guidelines On Corporate Dissolution Under Sections 13436 And 138 Of Republic Act No 11232Therwise Known As The Revised Corporation Code Of Philippines Rcc Sections 134Nd 138 Of The Rcc Govern Voluntary Dissolution Where No Creditor Is AffectedIssolution Through The Shortening Ofa Corporation 39s Corporate Term And Involuntary DissolutionEspectively Under The Newly Issued GuidelinesHe Dissolution Of Corporations Shall Pass Through The Sec Company Registration And Monitoring Department Crmd Or Extension Offices Eos Voluntary In Instances Where No Creditors Are AffectedOrporations May Apply For Voluntary Dissolution With The Crmd Or Eo Whose Territorial Jurisdiction Includes Principal Office Address Of Corporationa Corporation Seeking Shall Submita Verified Request Signed By Its Duly Authorized Representatives Containing Corporate NameEc Registration NumberPrincipal OfficeA Statement Requesting For The DissolutionNd Reason For The Dissolution Verified Request Must Also Contain Notice Given To Corporation 39s Shareholders Members 20 Days Prior Meeting Where Vote On Its Occurred Names Of Stockholders And Directors