In the Matter of General Fund Financing Corporation
SEC-CFD Order No. 058-12 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • Feb 14, 2012
Full text
February 14, 2012 SEC-CFD ORDER NO. 058-12 IN THE MATTER OF GENERAL FUND FINANCING CORPORATION FOR : Revocation of the Certificate of Authority (CA) to Operate as a Financing Company ORDER Records on file with this Commission show the following: cTAaDC 1. Non-payment of the Annual Fees for 2004-2011; 2. Non-filing of the following reports: a. 2007 Quarterly Reports (1st to 4th Quarters); b. 2008 (1st and 2nd Semesters), 2009 (1st and 2nd Semesters), 2010 (1st and 2nd Semesters) and 2011 (1st and 2nd Semesters) Interim Financial Statements; c. 2007 to 2011 General Information Sheets; d. 2008 to 2010 Audited Financial Statements; and e. 2007 to 2010 Special Forms of Financial Statements (FCFS); 3. Failure to infuse additional capital to maintain the required net worth under Section 11 of the Implementing Rules and Regulations of the Financing Company Act; and 4. Non-payment of the annual fees and penalties amounting to P188,375.00 assessed on 08 August 2011. Pursuant to the resolution of the Commission in its meeting on 09 February 2012, the company's Certificate of Authority to Operate as a Financing Company is hereby REVOKED. Let a copy of this Order be sent to the principal office address of GENERAL FUND FINANCING CORPORATION and posted in the City Hall of Mandaluyong City and in the Commission's official website for the information and guidance of the public. EcIaTA SO ORDERED. February 14, 2012, Mandaluyong City. (SGD.) JOCELYN C. VILLAR-ALTAMIRA Acting Director
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