In re Matter of Bitaug Fishermen's Village Association, Inc.

October 31, 2008 SEC EN BANC CASE NO. 04-08-0424 IN THE MATTER OF BITAUG FISHERMEN'S VILLAGE ASSOCIATION, INCORPORATED SEC REGISTRATION NO. DN092-000802 FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner BITAUG FISHERMEN'S VILLAGE ASSOCIATION, INCORPORATED is a non-stock corporation registered with the Commission on 07 December 1992, under SEC Registration No. DN092-000802, with principal office at Bitaug, Zone IV, Sta. Cruz, Davao del Sur, organized to unite, develop and uplift the livelihood of the residents of Bituag, Sta. Cruz, Davao del Sur, as stated in the Articles of Incorporation. CaDATc On 03 November 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 30 September 2003, published on 04 October 2003 in the Philippine Daily Inquirer, for non-filing of reports.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 member fishermen depend on Petitioner for the peace and order, health and sanitation, maintenance and preservation of the coastal area which serves as their source of living in rearing their families; 2. that Petitioner was not aware of the Commission's reportorial requirements; 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. Photocopy of the 2008 Mayor's Permit, Sta. Cruz, Davao del Sur; 2. Trustees' Certificate dated 10 March 2008, certifying that at the joint regular meeting of the members and the Board of Trustees, held on 23 February 2008, at Bituag, Zone IV, Sta. Cruz, Davao del Sur at which a quorum was present, the resolution allowing the filing of Petition to Set Aside Order of Revocation was unanimously approved; 3. Photocopy of the Annual Income Tax Return for the year 2007 received by the BIR-Davao del Sur on 03 March 2008; and 4. Photocopies of the minutes of the meeting conducted by the Petitioner on various dates in 2007 and 2008. 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 due. On 13 March 2008, Petitioner paid the fines of Php10,750.00, as assessed by SEC-Davao Extension Office, under OR No. 5492371 for non/late filing of the following, on the years indicated hereunder: EHTCAa NOT FILED FILED LATE General Information Sheet 1996-2002; 2005-2007 2003-2004; 2008 Financial Statements 1996-2003; 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 to excuse it from compliance therewith. However, finding the submitted documents sufficient to establish Petitioner's intent to continue as a going concern entity, the Commission's Order dated 30 September 2003 revoking the Certificate of Registration of BITAUG FISHERMEN'S VILLAGE ASSOCIATION, INCORPORATED, is hereby SET ASIDE. SO ORDERED. Mandaluyong City, October 31, 2008. (SGD.) FE B. BARIN Chairperson (SGD.) MA. JUANITA E. CUETO Commissioner (SGD.) JESUS ENRIQUE G. MARTINEZ Commissioner (SGD.) RAUL J. PALABRICA Commissioner on leave THADDEUS E. VENTURANZA Commissioner Footnotes 1. Photocopies are compared with the original of the documents. CAaSHI