JK&C LIBRARYSEC Memorandum Circular No. 16, s. 2001
Overview
SEC Memorandum Circular No. 16, Series of 2001, concerns the deadline for filing requests for reconsideration involving reductions or waivers of penalties imposed for failure to timely file periodic and other reports required under the rules and regulations implemented by the Securities and Exchange Commission.
The circular states that corporations that had not yet availed themselves of the Commission’s policy on reduction or waiver of penalties were given until March 31, 2002 to file similar requests. The requests covered only assessments made by the Commission as of December 29, 2001.
The circular further provides that it would take effect fifteen (15) days following its publication in a newspaper of general circulation.
Full Text
Overview
SEC Memorandum Circular No. 16, Series of 2001, concerns the deadline for filing requests for reconsideration involving reductions or waivers of penalties imposed for failure to timely file periodic and other reports required under the rules and regulations implemented by the Securities and Exchange Commission. The circular states that corporations that had not yet availed themselves of the Commission's policy on reduction or waiver of penalties were given until March 31, 2002 to file similar requests. The requests covered only assessments made by the Commission as of December 29, 2001. The circular further provides that it would take effect fifteen (15) days following its publication in a newspaper of general circulation.
Short Title / Subject
Deadline for Filing Requests for Reconsideration
Full Text
SEC Memorandum Circular No. 16
Series of 2001
TO : All Corporations
SUBJECT : Deadline for Filing Requests for Reconsideration
In view of the current global financial crisis, the Commission, in lieu of an amnesty, has been granting requests for reduction or waiver of penalties imposed on public companies, brokers and dealers. pre-need companies and other corporations, for failure to file on time periodic and other reports that are required under the rules and regulations being implemented by the Commission.
However, the Commission, in its meeting of December 13, 2001, resolved that corporations which have not yet availed of said policy shall have up to March 31, 2002 within which to file similar requests. The same shall cover only assessments made by the Commission as of December 29, 2001.
This Circular shall take effect fifteen (15) days following its publication in a newspaper of general circulation.
December 20, 2001.
Mandaluyong City, Philippines.
LILIA R. BAUTISTA
Chairperson
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Source
Official Source: Securities and Exchange Commission
Official URL: https://appointment.sec.gov.ph/wp-content/uploads/2019/11/2001MCno16.pdf
Citation
Securities and Exchange Commission (SEC), Memorandum Circular, SEC Memorandum Circular No. 16, s. 2001, SEC Memorandum Circular No. 16, s. 2001, 2001-12-18
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Source
Securities and Exchange Commission Official source
Citation
Securities and Exchange Commission (SEC), Memorandum Circular, SEC Memorandum Circular No. 16, s. 2001, SEC Memorandum Circular No. 16, s. 2001, 2001-12-18