In the Matter of San Nicolas Teacher Credit & Finance Corporation

December 8, 2009 SEC-CFD ORDER NO. 193-09 IN THE MATTER OF SAN NICOLAS TEACHER CREDIT & FINANCE CORPORATION FOR: REVOCATION OF THE CERTIFICATE OF AUTHORITY (CA) TO OPERATE AS A FINANCING COMPANY ORDER Records on file with this Commission show that: 1. The Corporation has committed the following violations: a. Failed to file the following reports: a. 2005 2nd, 3rd and 4th quarterly reports; b. 2006 and 2007 quarterly reports; c. 2008 Interim Financial Statements (FCIF); d. 2005 to 2008 Special Form for Financial Statements (FCFS); e. 2004, 2007 and 2008 Audited Financial Statements (AFS); f. 2006, 2007 and 2009 General Information Sheets (GIS); g. 2005 to 2008 Corporate Secretary's Certifications on the attendance of directors to board meetings; h. 2005 to 2008 Compliance Officer's Certifications on the extent of the company's compliance with its Manual on Corporate Governance; and DTEAHI i. 2009 1st semestral Interim Financial Statements (FCIF). b. Failed to pay the penalty of P100,000.00 and c. Non-payment of annual fees for the years 2006 to 2009; 2. On 20 October 2009 and 21 October 2009, a notice of hearing for suspension was received by three of the directors of the company. However, despite notice no representative of the company appeared before the Commission. Pursuant to the resolution of the Commission in its meeting on 3 December 2009, 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 SAN NICOLAS TEACHER CREDIT & FINANCE CORPORATION and posted in the Commission's official website for the information and guidance of the public. SO ORDERED. December 8, 2009, Mandaluyong City. (SGD.) JUSTINA F. CALLANGAN Director