In re Samahan ng mga Nagkakapit-Bisig ng Socorro, Inc.

August 11, 2008 SEC EN BANC CASE NO. 04-08-0428 IN THE MATTER OF SAMAHAN NG MGA NAGKAKAPIT-BISIG NG SOCORRO, INC., SEC REGISTRATION NO. CN92000191 , petitioner. FOR: SETTING ASIDE THE ORDER OF REVOCATION O R D E R Petitioner, Samahan ng mga Nagkakapit-Bisig ng Socorro, Inc., is a non-stock corporation registered with the Commission on 15 June 1992, under SEC Registration No. CN92000191, with principal office located at Socorro, Surigao del Norte. Its purposes, as stated in its Articles of Incorporation, are: to engage in collective activities towards the satisfaction of two of man's basic needs namely, food and shelter, by undertaking farming and construction of houses on a "Kapit-Bisig" way; to foster and develop cooperation, good moral character, personal discipline and civic consciousness among members; to assist its members engage in projects that could generate income for the members, etc. IAaCST On 03 November 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 30 September 2003, published on 04 October 2003 in the Philippine Daily Inquirer, for non/late filing of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 has been continuously performing its annual collective activities in the construction of houses for its bona-fide members on a Kapit-Bisig way which they call "TINABANGAY"; and 2. That it is engaged in agro-forestry under the Community Based Resource Management Project (CBRMP) with its sub-project, Socorro Island Sustainable Resource Management Project (SISRDP). In fact, Petitioner was awarded/granted with the Protected Area-Community Based Resource Management Agreement (PACBRMA) by the DENR. In support of its Petition, Petitioner submitted the following documents: 1. Trustees' Certificate dated 14 April 2008, certifying that at the special meeting of the members and the Board of Trustees, held on 7 April 2008, at KABISIG Multi-Purpose Bldg., Upper Songkoy, Socorro, Surigao del Norte, at which a quorum was present, the resolution allowing the filing of the Petition to Set Aside Order of Revocation was approved unanimously by the trustees and its members; 2. Minutes of the Meeting of the Board of Trustees dated 5 April 2008 signed by Jerry T. Canta, Secretary of Petitioner; and 3. Photocopy of the Official Receipt issued by Petitioner to a certain Rico Alabat for his 2007 annual dues with the Petitioner, with Receipt No. 000151 dated 27 December 2007 (verified against the original). Petitioner submitted its 2007 GIS and 2007 FS to prove its intention to continue its registration with the Commission. Petitioner also manifested that it has no intention to violate the law and that it commits to immediately pay the fines due. aCSEcA Petitioner paid the fines of Php22,500.00, * the amount assessed by the Law and Regulation Division of the Company Registration and Monitoring Department (CRMD), for non/late filing of the following: NOTED DEFICIENCIES YEARS COVERED REQUIREMENTS NOT FILED FILED LATE General Information Sheet 1996-2006 2007 Financial Statements 1996-2006 WHEREFORE, finding the Petition meritorious, the Order of the Commission dated 30 September 2003 revoking the Certificate of Registration of the SAMAHAN NG MGA NAGKAKAPIT-BISIG NG SOCORRO INC., is hereby SET ASIDE. Let a copy of this Order be furnished the Corporate Filing and Records Division of the CRMD for attachment to the corporate records of the petitioner on file with the Commission. The Economic Research and Information Department is hereby directed to delete the name of the Petitioner from the list of revoked corporations immediately upon receipt of this Order. SO ORDERED. Mandaluyong City. August 11, 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 * Php10,000.00 on 18 April 2007 under Official Receipt No. 0148684 and Php12,500.00 on 12 May 2008 under Official Receipt No. 0165011. aTDcAH