In re Bonds of Love Christian Ministries, Inc.

May 9, 2008 SEC EN BANC CASE NO. 10-07-0253 IN THE MATTER OF BONDS OF LOVE CHRISTIAN MINISTRIES, INC., (S.E.C. REG. NO. A1996-10255) , petitioner . FOR: SETTING ASIDE OF REVOCATION ORDER O R D E R Petitioner BONDS OF LOVE CHRISTIAN MINISTRIES, INC. is a non-stock corporation registered with the Commission on 27 November 1996 as an independent religious organization to administer its affairs, properties and temporalities. Petitioner holds office at No. 20-A Juan Luna Street, Pacita, Phase 5, San Pedro, Laguna. On 15 March 2004, petitioner's Certificate of Registration No. A1996-10255 was revoked by virtue of SEC Order dated 10 February 2004 for non-compliance with the Commission's reportorial requirement. The said order was published in a newspaper of general circulation on 14 February 2004. Petitioner seeks reconsideration of the Order revoking petitioner's registration based on the following grounds: 1. Petitioner did not receive any notice of revocation; 2. Petitioner failed to submit its reportorial requirements due to the inadvertence of the person in charge; and 3. Petitioner is still existing and operational. DaCEIc As proof of its intent to continue its operation, petitioner submitted copies of the following: 1. 2006 Annual Income Tax Return; 2. Service Contract between petitioner and MTM Cooling Services for the service and maintenance of the five (5) airconditioning units of the former for the period 20 September 2006 to 20 August 2007; and 3. Various official receipts issued by petitioner. Petitioner further alleges that it has no intention to violate the law and henceforth, commits to comply with the rules and regulations of the Commission regarding the submission of reports. As a matter of fact, petitioner already paid the penalty in the amount of TWENTY EIGHT THOUSAND TWO HUNDRED FIFTY PESOS (Php28,250.00) on 30 October 2007 as evidenced by Official Receipt No. 0109573. EASIHa WHEREFORE, petitioner's allegation of lack of notice of revocation is without merit considering that the Order of this Commission dated 10 February 2004 was published in a newspaper of general circulation on 14 February 2004. However, finding the documents submitted to support the instant petition of BONDS OF LOVE CHRISTIAN MINISTRIES, INC. to be sufficient, the Order of Revocation dated 10 February 2004 ORDER is hereby SET ASIDE. SO ORDERED. Mandaluyong City. May 9, 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