In re Kawayanan Neighborhood Association, Inc.

November 24, 2008 SEC EN BANC CASE NO. 05-08-0453 IN THE MATTER OF KAWAYANAN NEIGHBORHOOD ASSOCIATION, INC. SEC REGISTRATION NO. 0000147217 FOR : Setting Aside the Order of Revocation of the Certificate of Registration O R D E R Petitioner, KAWAYANAN NEIGHBORHOOD ASSOCIATION, INC., is a non-stock corporation registered with the Commission on 24 December 1987, under SEC Registration No. 0000147217, with principal office at Kawayanan Area, Marcelo, Green, Paraaque City. IaSAHC On 29 September 2003, its Certificate of Registration was revoked by the Commission, by virtue of SEC Order dated 20 August 2003, published on 28 August 2003 in the Philippine Daily Inquirer, for non-filing of reports. Petitioner now prays for the setting aside of the Order of Revocation dated 20 August 2003, on the following grounds: 1. that the remaining officers were not aware of the Commission's reportorial requirements, due to the untimely demise of the President of the Petitioner; 2. that it has no intention to violate the law and any SEC rules and regulations; 3. that it shall henceforth submit reportorial requirements religiously; and 4. that it intends to continue its registration with the Commission. In support of its Petition, Petitioner submitted the following documents: * 1. Trustees Certificate dated April 11, 2008 certifying that at the special meeting of the Board of Trustees' held on 15 March 2008, in Kawayanan Area, Brgy. Marcelo Green Paraaque City, at which a quorum was present, the resolution allowing the filing of the Petition to Set Aside Order of Revocation was approved; 2. Photocopy of Petitioner's BIR Certificate of Registration dated 4 April 2008; 3. Photocopy of a Certification dated 4 February 2008, that Petitioner is a land based association, accredited and recognized by the Urban Mission Areas Development Office, City of Paraaque; and 4. Photos from the October 14, 2006 Officers/Board meeting of the Petitioner with Officer in Charge, Ms. N. Natino and staff of the National Housing Authority, South Sector-IV Pasay City and Congressman Roilo S. Golez, District II Paraaque City. 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. aTSEcA On 9 May 2008, Petitioner paid the fine of Php11,750.00, under Official Receipt No. 0161892, for non/late filing/registration of the following, on the years indicated hereunder: Requirements Not Filed Filed Late General Information Sheet 1996-2003; 2005-2007 2004 and 2008 Financial Statements 1996-2002; 2004-2006 2003 Membership Book Registered late WHEREFORE, Petitioner's allegation that the remaining officers were not aware of the Commission's reportorial requirements, due to the untimely demise of their President 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. However, finding the submitted documents sufficient to establish Petitioner's intent to continue as a going concern entity, the Order of the Commission dated 20 August 2003, revoking the Certificate of Registration of the KAWAYANAN NEIGHBORHOOD ASSOCIATION, INC. is hereby SET ASIDE. Further, Petitioner is directed to submit its 2008 Mayor's Permit within thirty days (30) from date of receipt hereof. Failure on its part to comply with the said directive shall cause the recall of this Order. SO ORDERED. Mandaluyong City, November 24, 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 * Photocopies are faithful reproductions of the originals of the documents. EAICTS