In re Istana Finance Corporation
SEC-CFD Order No. 153-07 • Securities and Exchange Commission Departments • Corporate Governance and Finance Department (CGFD) • Sep 19, 2007
Full text
September 19, 2007 SEC-CFD ORDER NO. 153-07 IN THE MATTER OF ISTANA FINANCE CORPORATION VIOLATION OF THE IMPLEMENTING R ULE S OF R.A. NO. 8556 (THE FINANCING COMPANY ACT OF 1998) O R D E R ISTANA FINANCE CORPORATION having violated Section 8 of the Rules and Regulations to Implement the Provisions of R.A. No. 8556 (The Financing Company Act of 1998) for late payment of its 2007 annual fee was required to pay the penalty of Ten Thousand Six Hundred Pesos (P10,600.00) which it paid on September 11, 2007 under Official Receipt No. 5489916. The corporation is warned that, henceforth, it shall endeavor to adopt such measures as will ensure faithful compliance with the requirements of the said Rules. Otherwise, a heavier penalty shall be imposed upon the corporation and/or its responsible officers. SO ORDERED. EDSA, Greenhills, Mandaluyong City, Metro Manila. September 19, 2007. (SGD.) JUSTINA F. CALLANGAN Director
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