In the Matter of Sampaguita Children's Learning Center, Inc.
SEC En Banc Case No. 01-09-0599 (Order) • Securities and Exchange Commission • Commission En Banc • Feb 27, 2009
Full text
February 27, 2009 SEC EN BANC CASE NO. 01-09-0599 IN THE MATTER OF SAMPAGUITA CHILDREN'S LEARNING CENTER, INC. SEC REGISTRATION NO. DN093-000526 FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner, SAMPAGUITA CHILDREN'S LEARNING CENTER, INC., is a non-stock corporation registered with the Commission on 7 July 1993, under SEC Registration No. DN093-000526, with principal office address at 33 Sampaguita Street, General Santos City, Philippines, organized to operate an educational institution that offers courses from nursery to college, as stated in the Articles of Incorporation. TDSICH On 3 November 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 30 September 2003, published on 4 October 2003 in the Philippine Daily Inquirer, for non-filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated 30 September 2003, on the following grounds: 1. that it was not aware that non-compliance with the Commission's reportorial requirements is a ground for revocation of its registration; 2. that it has been operating for twenty eight (28) years and is committed to continuously provide affordable and high quality education; and 3. that it has no intention to violate the law and any SEC rules and regulations. In support of its Petition, Petitioner submitted the following documents: 1 1. Trustees' Certificate dated 8 May 2008 certifying that at the special meeting of the trustees, held on 12 April 2008, in its principal office, at which a quorum was present, the resolution allowing the filing of the Petition to Set Aside Order of Revocation was approved; 2. Photocopies of the 1985, 1994-2000, and 2003 Government Recognition/Permit for kindergarten and complete elementary courses, issued by the Department of Education, Culture and Sports; 3. Photocopies of the 2007 and 2008 Annual Income Tax Returns received by the Bureau of Internal Revenue; 4. Photocopies of the Business Permits for the years 2006 and 2007, General Santos City; cDHAaT 5. Copies of its remittances to the Social Security System for the years 1994-2008; 6. Certificate of its remittances to Philippine Health Insurance Corporation for the years 2003-2008 dated 4 August 2008; 7. Copies of its remittances to the Home Development Mutual Fund (HDMF/Pag-IBIG Fund) for the years 1999-2008; and 8. Photocopies of Official Receipts issued to clients during the years 2000-2002 and 2005-2007. Petitioner submitted its 2008 General Information Sheet and 2007 Financial Statements to prove its intention to continue its registration with the Commission. It also commits to immediately pay the fines as due. On 16 September 2008, Petitioner paid the fine of Php60,000.00, the amount assessed by the SEC-Davao Extension Office, under Official Receipt No. 5524463, for non/late filing of the following, on the years indicated hereunder: Requirements Not Filed Filed Late General Information Sheet 1996-2007 2008 Financial Statements 1996-2006 2007 WHEREFORE, Petitioner's allegation that it was not aware that non-compliance with the Commission's reportorial requirements is a ground for revocation of its Certificate of Registration 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 corporation is bound by the said provision of the law and it cannot claim ignorance as excuse from compliance therewith. Nevertheless, finding the submitted documents sufficient to establish Petitioner's operations since 1985 and its intent to continue as a juridical entity, the Order of the Commission dated 30 September 2003, revoking the Certificate of Registration of SAMPAGUITA CHILDREN'S LEARNING CENTER, INC., is hereby SET ASIDE. STHAaD However, the Petitioner is hereby directed to submit its 2009 Business Permit within thirty (30) days from receipt of this Order. Failure on the part of the Petitioner to comply with the directive shall cause the recall of this Order. SO ORDERED. Mandaluyong City, February 27, 2009. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner on leave 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.
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