Transfer of corporate registration to SEC

Ask AI

Republic Act No. 1055: Transfer of corporate registration to SEC

Getting related questions...
What do you want to know about the law?
Your conversations and searches stay on your device. We do not store or track your activity on our servers. To know more about our privacy commitment see jur.ph/privacy Ask AI provides quick answers grounded in full case texts to avoid mistakes. Always verify with the original text.

Ask AI

Title Supreme Court: Transfer of corporate registration to SEC

Law: Republic Act No. 1055

Decision Date: Jun 12, 1954

Republic Act No. 1055 transfers the powers, duties, and functions of the Bureau of Commerce to the Securities and Exchange Commission, granting the SEC authority over the registration and licensing of corporations and associations, as well as the enforcement of related laws.

corporate registration

licensing requirements

securities enforcement

A

Transfer of Records, Personnel, and Appropriations

All books, records, documents, and files of the Bureau of Commerce related to corporations and associations are transferred to the SEC.
Personnel of the Bureau of Commerce currently performing related functions are likewise transferred to the SEC.
Corresponding appropriations with these functions and personnel are also transferred.
The Budget Commissioner is directed to immediately provide for this transfer.

Repeal of Conflicting Laws

All laws or parts thereof that conflict with this Act are repealed, ensuring consistency and integration of regulatory authority under the SEC.

Effectivity

The Act takes effect immediately upon its approval on June 12, 1954.

END