SEC Memorandum Circular No. 05, s. 2001 – Annual Meetings and Proxy
SEC Memorandum Circular No. 05, s. 2001 extends the guidelines on annual meetings and proxy acceptance under SEC Memorandum Circular No. 5 dated August 6, 1996 to stock corporations whose securities are not registered under the Securities Regulation Code and to non-stock corporations when their by-laws contain no applicable rules.
SEC MEMORANDUM CIRCULARS
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SEC Memorandum Circular No. 05, s. 2001
Annual Meetings and Proxy
Document Number: SEC Memorandum Circular No. 05, s. 2001
Date Issued: 23 May 2001
Issuing Agency: Securities and Exchange Commission (SEC)
Overview
SEC Memorandum Circular No. 05, s. 2001 extends the application of the guidelines prescribed in SEC Memorandum Circular No. 5 dated August 6, 1996 to stock corporations whose securities are not registered under the Securities Regulation Code (SRC) and to non-stock corporations. The circular applies only when the corporation's by-laws do not contain rules governing annual stockholders' or membership meetings, as well as the acceptance and validation of proxies. It took effect immediately upon its adoption on May 23, 2001.
Full Text
[ SEC MEMORANDUM CIRCULAR NO. 05, s. 2001 ]
Annual Meetings and Proxy
In the absence of rules, guidelines or provisions in the by-laws regarding the conduct of annual stockholders or membership meetings and the acceptance and validation of proxies for those stock corporations whose stocks are not registered under the Securities Regulation Code, and non-stock corporations, SEC Memorandum Circular No. 5 dated August 6, 1996 which provides the guidelines on the same subject for publicly listed corporations, when pertinent, shall be applicable also to those stock corporations and non-stock corporations.
This Memorandum Circular shall take effect immediately.
Adopted: 23 May 2001
(SGD.) LILIA R. BAUTISTA
Chairperson
Source
Official Source: Supreme Court E-Library / National Administrative Register (NAR); Securities and Exchange Commission (SEC)
Reference URL:
https://appointment.sec.gov.ph/mc-2001/sec-memorandum-circular-no-05-13/
Citation:
Securities and Exchange Commission. SEC Memorandum Circular No. 05, s. 2001, "Annual Meetings and Proxy," adopted May 23, 2001.