In re Sto. Nino Urban Poor Association, Inc.

November 8, 2007 SEC EN BANC CASE NO. 07-07-0110 (SEC-Zamboanga Extension Office) IN THE MATTER OF STO. NINO URBAN POOR ASSOCIATION, INC. (SEC REG. NO. 160729) , petitioner . FOR : Lifting of Order of Revocation O R D E R Petitioner Sto. Nino Urban Poor Association, Inc. ("Petitioner") is a non-stock corporation with principal office at Sto. Nino, Zamboanga City, duly registered with the Commission on March 2, 1989 under SEC Certificate of Registration No. 160729. It was established for the following primary purposes, among others: CAHaST a. To engage and establish, manage, maintain and operate adequate livelihood facilities services for its members in accordance with the objectives of the Sto. Nino Urban Poor Association, Inc. b. To develop attitudes and harness the peoples participation in every activities towards the development of the community through self help and self reliance. c. To encourage the people to utilize local resources effectively for livelihood activities, so as to achieve better condition of life in the community. d. To collaborate with the preset government program through National Secretariat in the overall planning for the development of the community. e. To enter into, make, perform and carry out, or cancel and rescind contracts of every kind and for any lawful purposes with any persons, association, or corporation, domestic or foreign; f. To acquire loan from National and Foreign Government through any of its lending or grant Institution for the purpose of local productive enterprises; g. To acquire, purchase, own, develop, lease, mortgage, pledge, exchange, sell transfer or otherwise invest in real and personal property of every kind and description or any interest therein as may be necessary for the accomplishment of the objectives of the organization. On September 29, 2003, Petitioner's Certificate of Registration was revoked pursuant to the Order of Revocation dated August 20, 2003 for non-compliance with the Commission's reportorial requirements. Said order was published in a newspaper of general circulation on August 28, 2003. cDHAaT Petitioner now prays for the lifting of the Order of Revocation based on the following grounds: 1. the officers were not aware of the SEC reportorial requirements; and 2. petitioner is still active and has been continuously paying monthly amortizations to HLURB for the lot. In support of its Petition, Petitioner submitted the following documents: a) 2006 Annual Income Tax Return; b) 1998-2007 receipts of payment issued to petitioner by the National Home Mortgage Finance Corporation; c) 2006 General Information Sheet; and d) 2006 Income Statement. On July 2, 2007, Petitioner also paid the penalties/fines of Ten Thousand Five Hundred Pesos (Php10,500.00) as assessed by the SEC-Zamboanga Extension Office (SEC-ZEO) and evidenced by Official Receipt No. 5462132. WHEREFORE, premises considered, the Order of the Commission dated August 20, 2003 revoking the Certificate of Registration of Sto. Nino Urban Poor Assn., Inc. is hereby SET ASIDE. Petitioner is further directed to submit the photocopies of the pages of the membership book containing entries therein certified by the Secretary within ten (10) days from date of receipt of this Order. Let a copy of this Order be furnished the Company Registration and Monitoring Department (CRMD) for implementation and attachment to the corporate records of petitioner on file with the Commission. The Economic Research and Information Department (ERID) is hereby directed to delete the name of Petitioner from the List of Revoked Corporations immediately upon receipt of this Order. TcaAID SO ORDERED. Mandaluyong City. November 8, 2007. (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