In the Matter of Our Lady's Foundation, Inc.

June 11, 2014 SEC CRMD IN THE MATTER OF OUR LADY'S FOUNDATION, INC. SEC Registration No. 94301 FOR : Revocation of Certificate of Incorporation for Violation of the CorporationCode ofthe Philippines and the SECRules andRegulations on Reportorial Requirements ORDER The records of this Commission show that OUR LADY'S FOUNDATION, INC., (hereafter referred to as the "foundation"), registered with the Commission on 04 August 1980 under SEC Registration No. 94301, failed to submit the following as required by the SEC rules and regulations on reportorial requirements: Requirements Not Filed General Information Sheet 1996-1999; 2001-2013 Financial Statements 1996-2013 Section 141 of the Corporation Code of the Philippines requires corporations to submit their annual reports to the Commission, such as, General Information Sheets and the Financial Statements, thus: "Every corporation, domestic or foreign, lawfully doing business in the Philippines shall submit to the Securities and Exchange Commission an annual report of its operations, together with a financial statement of its assets and liabilities, certified by any independent certified public accountant in appropriate cases, covering the preceding fiscal year and such other requirements as the Securities and Exchange Commission may require. Such report shall be submitted within such period as may be prescribed by the Securities and Exchange Commission." Section 5 (m) of Republic Act No. 8799, also known as the Securities Regulation Code and Section 6 (i) of Presidential Decree No. 902-A, as amended, vest the Commission with authority to revoke, after proper notice and hearing, the franchise or Certificate of Incorporation of corporations upon any of the grounds provided by law including the following: [6] Failure to file required reports in appropriate forms as determined by the Commission within the prescribed period; HaTSDA Considering the foundation's failure to file the required reports within the prescribed period and upon the recommendation of the Corporate Governance and Finance Department, the Commission finds sufficient grounds to revoke its Certificate of Incorporation. WHEREFORE, in view of the non-submission of the required reports, the Certificate of Incorporation of OUR LADY'S FOUNDATION, INC., is hereby REVOKED for violation of Section 141 of the Corporation Code of the Philippines and SEC rules on reportorial requirements. SO ORDERED. Mandaluyong City. June 11, 2014. (SGD.) FERDINAND B. SALES Director Company Registration and Monitoring Department Securities and Exchange Commission