In re Golden Gate Tricycle Operators and Drivers Association, Inc.

April 16, 2008 SEC EN BANC CASE NO. 02-07-0003 IN THE MATTER OF GOLDEN GATE TRICYCLE OPERATORS AND DRIVERS ASSOCIATION, INC. (GGTODA), (S.E.C. REG. NO. 0000130693) , petitioner. FOR: SETTING ASIDE OF ORDER OF REVOCATION O R D E R Before the Commission en banc is the petition for the setting aside of the SEC Order dated 20 August 2003 revoking the certificate of registration of petitioner Golden Gate Tricycle Operators and Drivers Association, Inc. ("petitioner" for brevity). Petitioner was registered with this Commission on 17 January 1986 to protect and advance the interests of its members by providing training and apprenticeship programs and extending assistance in securing a certificate of public convenience, among others. 1 Its office address is located at Topland Avenue, Golden Gate Subdivision, Talon III, Las Pias City. On 29 September 2003, petitioner's Certificate of Registration No. 130693 was revoked by virtue of SEC Order dated 20 August 2003 for non-compliance with the Commission's reportorial requirements. Said revocation order was published in a newspaper of general circulation on 28 August 2003. Petitioner seeks reconsideration of the Order revoking petitioner's registration on the following grounds: 1. The officers of petitioner were not aware of the submission of the reportorial requirements; and 2. The previous officers have transferred to other places without turning over their respective responsibilities to the incoming officers. 2 IcTCHD In support of its petition, petitioner submitted its Comparative Financial Report for the years ended 31 December 2005 and 31 December 2004. Finding petitioner's financial statements as non-compliant, this Commission issued an Order dated 12 March 2007 directing it (petitioner) to submit an original or certified true copy of its latest financial statement subscribed and sworn to by its duly elected Treasurer and stamped "received" by this Commission within the prescribed period. In compliance with the 12 March 2007 Order, petitioner submitted the required document on 02 May 2007. Upon evaluation, however, of the reports of petitioner by the Law Regulation Division of the Company Registration and Monitoring Department of this Commission, it was found that petitioner failed to submit its General Information Sheet (GIS) for 2007 considering that in the GIS submitted, it was reflected that the annual meeting of the members of petitioner was held on 16 December 2006. The Commission through its General Counsel again issued an Order dated 12 June 2007 requiring petitioner to submit its 2007 GIS. Petitioner failed to do so. The said directive was reiterated in the 10 September 2007 Order and was received by petitioner through its counsel on 10 October 2007. Despite the lapse of time that has passed, petitioner failed to submit its GIS for 2007. For that reason, the failure of petitioner to comply with the latest directive is deemed a failure to prosecute the instant petition and hence, the same shall be deemed abandoned. IN VIEW OF THE FOREGOING, the instant petition is hereby DISMISSED without prejudice. SO ORDERED. Mandaluyong City. April 16, 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. Petitioner's Certificate of Registration. 2. Petition p. 1.