Foreign Currency as Consideration for Issuance of Shares of Stocks
SEC-BED Memorandum Circular No. 04-A-95 • Securities and Exchange Commission Departments • Markets and Securities Regulation Department (MSRD) • Sep 28, 1995
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September 28, 1995 SEC-BED * MEMORANDUM CIRCULAR NO. 04-A-95 TO : All Concerned RE : Foreign Currency as Consideration for Issuance of Shares of Stocks Relative to the resolution adopted by the Commission en banc dated August 04, 1995 allowing foreign currency as consideration for issuance of stocks, the bank certificate of deposit covering the foreign currency as paid-up capital shall include the date the foreign currency was deposited/credited to the account of the corporation and the exchange rate on said date. This Memorandum Circular shall take effect immediately. (SGD.) PERFECTO R. YASAY, JR. Acting Chairman
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