Regulatory Alerts2019-11-25
SEC Memorandum Circular No. 23 s.2019: Guidelines on the Revival of Expired Corporations
The Securities and Exchange Commission issued these guidelines to establish the procedures for the revival of expired corporations under Section 11 of the Revised Corporation Code of the Philippines. The document details eligibility criteria, required board and stockholder votes, specific documentary requirements, and the step-by-step filing and publication process for petitions. It further mandates that financial intermediaries obtain agency recommendations and grants revived corporations a two-year compliance period with the Revised Corporation Code.
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