Rules for Revocation of Corporate Registration

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SEC MEMORANDUM CIRCULAR NO. 4: Rules for Revocation of Corporate Registration

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Title Supreme Court: Rules for Revocation of Corporate Registration

Law: Sec Memorandum Circular No. 4

Decision Date: Mar 28, 2003

The SEC amends the revocation process for corporate registration, requiring a show cause order to be sent to corporate officers, allowing thirty days for response before automatic revocation, with provisions for hearings and appeals.

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Hearing Procedures and Evidence

The hearing officer assigned to the case administers oaths.
The hearing officer receives evidence that is relevant and material to the revocation case.

Nature of Revocation Proceedings

The proceedings to revoke a corporation's certificate of registration are summary in nature, indicating an expedited process without extensive procedure.

Motion for Reconsideration

The respondent corporation has 30 days from the date of revocation to file a motion for reconsideration.
Failure to file any such motion within this period renders the revocation final and executory.

Fees for Motion for Reconsideration or Appeal

A fee of One Thousand Pesos (P1,000.00) is charged for each motion for reconsideration or appeal filed by the corporation.

Effectivity of Amendments

The amendments to Rule II take effect fifteen (15) days after their publication in a newspaper of general circulation in the Philippines.

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