In the Matter of the Manila Southwoods Golf Manors Condominium Corp.

January 9, 2009 SEC CRMD CASE NO. 08-10-0010 IN THE MATTER OF THE MANILA SOUTHWOODS GOLF MANORS CONDOMINIUM CORPORATION SEC REGISTRATION NO. A199918294 FOR : Setting Aside Order of Revocation of Certificate of Registration O R D E R Petitioner, THE MANILA SOUTHWOODS GOLF MANORS CONDOMINIUM CORPORATION, is a non-stock corporation registered with the Commission on January 26, 2000 under SEC Registration No. A199918294, with principal office address at Southwoods Avenue, Carmona, Cavite, as stated in its Articles of Incorporation. SCIAaT On August 02, 2006, its Certificate of Registration was revoked by virtue of SEC Order dated June 27, 2006 which was published on July 03, 2006 in the Philippine Star, for non-filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated June 27, 2006, on the following grounds: 1. that the non-filing of reports was merely inadvertent; 2. it has no intention to violate the laws or SEC rules and regulations; 3. that it shall submit reportorial requirements religiously; and 4. that it commits to pay immediately any penalties due by reason of its failure to comply with the Commission's reportorial requirements. In support of its Petition, Petitioner submitted the following documents: 1 1. Directors' Certificate dated October 07, 2008 and Secretary's Certificate dated August 08, 2008, certifying that at the special meeting of directors held on June 23, 2008, at Southwoods Avenue, Carmona, Cavite at which a quorum was present, the resolution allowing the filing of Petition to Set Aside the Order of Revocation was approved; 2. Photocopy of 2008 Mayor's Permit, Municipality of Carmona, Cavite; 3. Photocopy of Certificate of Occupancy by Office of the Building Official, dated July 18, 2008, Municipality of Carmona, Cavite; 4. Photocopy of 2008 Sanitary Permit to Operate, Municipal Health Office, Carmona, Cavite; and 5. Photocopy of Barangay Clearance issued on July 18, 2008, Office of the Barangay Captain, Barangay 10 Cabilang Baybay, Carmona, Cavite; Petitioner submitted its 2008 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. On October 28, 2008, the Petitioner paid the fine of PhP8,000.00 under O.R. No. 0226053, for non/late filing/registration of the following, on the years indicated hereunder: DcIHSa REQUIREMENTS NOT FILED FILED LATE General Information Sheet 2001-2007 Financial Statements 2000-2006 2007 Membership Book Registered Late WHEREFORE, Petitioner's allegation that its failure to file the Commission's reportorial requirements was merely inadvertent is without merit. Section 141 of the Corporation Code of the Philippines requires corporations to submit an annual report of its operations and such other requirements as the Commission may require. The corporation is bound by the said provision of the law and it cannot claim inadvertence as excuse from compliance therewith. However, finding the submitted documents sufficient to establish that Petitioner intends to continue as a juridical entity, the Order of the Commission dated June 27, 2006 revoking the Certificate of Registration of THE MANILA SOUTHWOODS GOLF MANORS CONDOMINIUM CORPORATION, is hereby SET ASIDE. SO ORDERED. Mandaluyong City, January 9, 2009. (SGD.) BENITO A. CATARAN Director Footnotes 1. Photocopies are faithful reproductions of the originals of the documents.