In re Subanen Economic and Educational Development Inc.

December 2008 SEC EN BANC CASE NO. 01-08-0335 IN THE MATTER OF SUBANEN ECONOMIC AND EDUCATIONAL DEVELOPMENT INCORPORATED SEC REGISTRATION NO. DEO0001562 , petitioner. FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner SUBANEN ECONOMIC AND EDUCATIONAL DEVELOPMENT INCORPORATION, is a non-stock corporation registered with the Commission on 05 December 1988, under SEC Registration No. DEO0001562, with principal office address at Paglaum, Dumalinao, Zamboanga del Sur, organized to assist Subanen tribal members in the upliftment of their standard of living, as stated in the Articles of Incorporation. IAEcCT On 29 September 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 20 August 2003, published on 28 August 2003 in the Philippine Daily Inquirer, for non-filing of reports. Petitioner now prays for the setting aside of the said Order of Revocation dated 20 August 2003, on the following grounds: 1. that Petitioner was not aware of the Commission's reportorial requirements; 2. that Petitioner has not received any order of revocation; and 3. that Petitioner has no intention to violate the law and any of the Commission's rules and regulations. In support of its Petition, Petitioner submitted the following documents: 1 1. Trustees' Certificate dated 19 June 2007, certifying that at the regular joint meeting of the members and the Board of Trustees, held on 09 June 2007, at Paglaum, Dumalinao, Zamboanga del Sur at which a quorum was present, the resolution allowing the filing of Petition to Set Aside Order of Revocation was unanimously approved; 2. Photocopy of the Application for License/Registration with the National Food Authority (NFA) dated 17 January 2007; 3. Photocopies of the Official Receipts issued by the NFA as proof of payment both dated 05 March 2005; 4. Photocopy of the 2007 Business Permit, Municipality of Dumalinao, Province of Zamboanga del Sur; and 5. Copy of the 2006 Annual Income Tax Return received by the BIR on 16 April 2007. Petitioner submitted its 2006 General Information Sheet and 2006 Financial Statements to prove its intention to continue its registration with the Commission. It also commits to immediately pay the fines as due. IDSEAH On 06 July 2007, Petitioner paid the fines of Php10,500.00, amount assessed by the SEC-Zamboanga Extension Office, under OR No. 5462158 for non/late filing of the following for the years indicated hereunder: NOT FILED FILED LATE General Information Sheet 1996-2005 2006 Financial Statements 1996-2005 2006 WHEREFORE, Petitioner's allegation that it was not aware of the reportorial requirements to be submitted to the Commission is without merit considering that 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 Petitioner is bound by the said provision of the law and it cannot claim ignorance as excuse from compliance therewith. AEaSTC The allegation that it is not aware of the Order of Revocation dated 20 August 2003 is also without merit, considering that the said Order was published on 28 August 2003 in the Philippine Daily Inquirer, pursuant to SEC Memorandum Circular No. 4 Series of 2003, which states that in cases where the Commission may deem practicable considering that great number or unknown addresses of corporations involved, the show cause order shall be published once in a newspaper of general circulation. Publication in a newspaper of general circulation is sufficient notice for the Petitioner. However, finding the submitted documents sufficient to establish Petitioner's intent to continue as a juridical entity, the Commission's Order dated 20 August 2003 revoking the Certificate of Registration of SUBANEN ECONOMIC AND EDUCATIONAL DEVELOPMENT INCORPORATION, is hereby SET ASIDE. TEHIaA Further, Petitioner is hereby directed to submit its 2008 Business Permit within thirty (30) days from date of receipt hereof. Failure on the part of the petitioner to comply with the directive shall cause the recall of this Order. SO ORDERED. Mandaluyong City, December ___ 2008. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner (SGD.) THADDEUS E. VENTURANZA Commissioner Footnotes 1. Photocopies are faithful reproductions of the originals of the documents.