In re Demokratikong Kilusang Magbubukid ng Pilipinas-Lanao, Inc.
SEC EN Banc Case No. 10-07-0248 (Order) • Securities and Exchange Commission • Commission En Banc • Jan 24, 2008
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January 24, 2008 SEC EN BANC CASE NO. 10-07-0248 IN THE MATTER OF DEMOKRATIKONG KILUSANG MAGBUBUKID NG PILIPINAS-LANAO (DKMP-LANAO) INC. (SEC Reg. No. H199700672) , petitioner . FOR : Setting Aside of the Order of Revocation of Certificate of Registration O R D E R Petitioner Demokratikong Kilusang Magbubukid ng Pilipinas-Lanao (DKMP-Lanao) Inc. is a non-stock corporation registered with the Commission on 13 November 1997 1 with the following purposes: 1. To advance and protect the economic, political and cultural interests of the farmers; 2. To raise the consciousness of the farmers; 3. To develop the cooperation among farmers through education, research and in the resolution of the problems they confront; 4. To advocate for legislation of laws that protect the farmers and other marginalized sectors of society; 5. To encourage concerned government agencies the sincere delivery of appropriate support services to farmers; 6. To forge unity, solidarity and support with other organizations, groups and sectors of society for the advancement and protection of common interests and problems ( sic );and 7. To forge unity, solidarity and support with other organizations, groups and sectors in other countries that are sympathetic and supportive to the interests of the Filipino farmers and Filipino people in general. 2 Petitioner's principal office is located in the City/Municipality of Maranding, Lala, Lanao del Norte, Philippines. 3 On 15 March 2004, Petitioner's Certificate of Registration No. H199700672 was revoked pursuant to the Order dated 10 February 2004 for non-compliance with the Commission's reportorial requirements. Said Order was published in a newspaper of general circulation on 14 February 2004. DEaCSA Petitioner now prays for the setting aside of the said Order of Revocation based on the following grounds: 1. the officers were not aware that there were reports to be submitted to the Honorable Commission; 2. the officers were not aware of such reportorial requirements by the Honorable Commission; 3. [it] has not received any Notice of Revocation from the Honorable Commission prior to the said revocation ...; 4. [it] hereby undertakes to make [r]egular Annual Report upon receipt of the Order reconsidering the revocation of its [Certificate of] [R]egistration; and 5. the council [intends] to continue its Registration with the Honorable Commission as evidenced by its submission of [reports] as proof of good faith. In support of its Petition, Petitioner submitted its 2007 General Information Sheet (GIS) and 2006 Audited Financial Statements. Petitioner also submitted, as proof of its continued operation, the following documents: a) Mayor's Permit issued on 15 October 2007 by the Office of the Municipal Mayor (Mayor Santiago L. Bontilao),Municipality of Lala, Lanao del Norte; b) Certificate of Accreditation issued on 10 October 2007 evidencing compliance by petitioner with the requirements for accreditation pursuant to the Local Government Code; and c) Mayor's Permit issued on 16 October 2007 by the Office of the Municipal Mayor (Mayor Benjie Y. Baguio),Municipality of Kapatagan. d) Copy of Executive Order No. 19, S. 2007 recognizing DKMP representative. Petitioner further alleges that it has no intention to violate the law and any SEC rules and regulations and henceforth, commits to comply with the rules and regulations of the Commission regarding the submission of reports. It has also paid in full the penalty amounting to Nine Thousand Five Hundred Pesos (Php9,500.00) as evidenced by Official Receipt No. 5480496 dated October 19, 2007. WHEREFORE, petitioner's allegation of lack of notice of revocation is without merit considering that the Order of the Commission dated 10 February 2004 revoking the Certificate of Registration of Demokratikong Kilusang Magbubukid ng Pilipinas-Lanao (DKMP-Lanao) Inc. was published in a newspaper of general circulation on 14 February 2004. However, finding the documents submitted to support the instant Petition to be sufficient, the aforesaid Order is hereby SET ASIDE. Let a copy of this Order be furnished the Company Registration and Monitoring Department (CRMD) and the Economic Research and Information Department (ERID) of this Commission for their appropriate action. EaISDC SO ORDERED. Mandaluyong City, January 24, 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. Certificate of Registration of Petitioner. 2. Articles of Incorporation of Petitioner, Second Article. 3. Articles of Incorporation of Petitioner, Third Article.
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