Regulatory Alerts2022-03-08
MC No. 05 s. of 2022 — Guidelines on Corporate Dissolution under Sections 134, 136 and 138 of the Revised Corporation Code
The Securities and Exchange Commission issued these guidelines to clarify the jurisdictional authority for processing corporate dissolution applications under the Revised Corporation Code. The document assigns voluntary dissolutions without affected creditors, term shortening, and involuntary dissolutions to the Company Registration and Monitoring Department and Extension Offices, while designating the Office of the General Counsel for voluntary dissolutions involving creditors. It further establishes procedural requirements for amending articles of incorporation and mandates specific notice contents for stockholders' meetings regarding dissolution votes.
Share