Question & AnswerQ&A (SEC MEMORANDUM CIRCULAR NO. 16, S. 2014)
Corporations and partnerships are required to specify a complete principal office address in their Articles of Incorporation or Articles of Partnership, including street number, street name, barangay, city or municipality, and if applicable, building name, building number, and room or unit number. "Metro Manila" alone is no longer an acceptable address.
No, "Metro Manila" alone shall no longer be considered a valid principal office address for corporations or partnerships.
They are not required to file an amended articles of incorporation but must declare the new specific address in their General Information Sheet (GIS) within fifteen days from the transfer.
Yes, in all cases where the new principal office address is in a different city or municipality, corporations must file amended articles of incorporation to indicate the new location.
Failure to file the GIS within the prescribed period constitutes a violation of Section 16 of the Corporation Code and is subject to penalties according to the existing scale of fines.
No, partnerships are not required to file a GIS but must file amended articles of partnership every time they move to a new location within the same or another city or municipality.
It took effect on January 1, 2015, after publication in a newspaper of general circulation.
Subpoenas, summons, notices, show cause letters, and other communications sent by the Commission to the address in the articles of incorporation or partnership and/or GIS are deemed valid service.
Yes, corporations may file amended articles of incorporation to indicate a new location within the same city or municipality although it is not required if their address was already specific and complete.
It repeals or modifies all other circulars, rules, orders, issuances, and opinions, or parts thereof, that are inconsistent with its provisions, including SEC Memorandum Circular No. 3, series of 2006 and SEC Memorandum Circular No. 6, series of 2014.