In re Legaspi City Southern Baptist Church, Inc.

November 27, 2008 SEC EN BANC CASE NO. 01-08-0346 IN THE MATTER OF LEGASPI CITY SOUTHERN BAPTIST CHURCH, INC., SEC REGISTRATION NO. IN094-000047 , petitioner. FOR: SETTING ASIDE THE ORDER OF REVOCATION OF THE CERTIFICATE OF REGISTRATION O R D E R Petitioner LEGASPI CITY SOUTHERN BAPTIST CHURCH, INC. is a non-stock corporation registered with the Commission on 10 March 1994, under SEC Registration No. IN094-000047, with principal office at #43 R. Serrano Street corner Vinzon Streets, Albay District, Legaspi City. AcSEHT On 03 November 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 30 September 2003, published on 04 October 2003 in the Philippine Daily Inquirer, for non-filing of reports.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 30 September 2003, on the following grounds: 1. that Petitioner's inadvertence in filing the report is due to the lack of formal endorsement from Petitioner's previous administration; 2. that Petitioner has no intention to violate the law and any SEC rules and regulations; and 3. that Petitioner shall henceforth submit reportorial requirements religiously. In support of its Petition, Petitioner submitted the following documents: 1 1. Trustees' Certificate dated 25 March 2008, certifying that at the special meeting of the Board of Trustees, held on 22 March 2008, at #43 R. Serrano Street corner Vinzon Streets, Albay District, Legaspi City at which a quorum was present, the resolution allowing the filing of Petition to Set Aside Order of Revocation was unanimously approved; 2. Photocopies of the Annual Income Tax Return for the years 2005 to 2007; and DcAaSI 3. Photocopy of the Certification dated 21 November 2007 issued by the Luzon Convention of Southern Baptist Churches (LCSBC) on the membership of Petitioner with the LCSBC. Petitioner submitted its 2008 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. It commits to immediately pay the fines as due. On 12 July 2007, Petitioner paid the fine of Php10,250.00, the amount assessed by SEC-Legaspi Extension Office, under OR No. 5460561 for non/late filing of the following, on the years indicated hereunder: NOT FILED FILED LATE General Information Sheet 1996-2005 2006 Financial Statements 1996-2005 WHEREFORE, Petitioner's allegation that its inadvertence in filing the report is due to the lack of formal endorsement from its previous administration is without merit. Despite the change of administration, Petitioner should have been vigilant in complying with the Commission's reportorial requirements. The obligation to file reports is on the Petitioner itself, and such obligation stands despite changes in administration. aTIAES However, finding the submitted documents sufficient to establish Petitioner's intent to continue as a going concern entity, the Order of the Commission dated 30 September 2003, revoking the Certificate of Registration of LEGASPI CITY SOUTHERN BAPTIST CHURCH, INC., is hereby SET ASIDE. 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. cHCaIE SO ORDERED. Mandaluyong City. November 27, 2008. (SGD.) FE B. BARIN Chairperson (on leave) 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.