In re Buklod Pagkakaisa ng Mahihirap sa Bagong Silang, Inc.

April 16, 2008 SEC EN BANC CASE NO. 11-07-0258 IN THE MATTER OF BUKLOD PAGKAKAISA NG MAHIHIRAP SA BAGONG SILANG, INC. (SEC REG. NO. AN094-00004154), petitioner . FOR: SETTING ASIDE OF THE ORDER OF REVOCATION OF CERTIFICATE OF REGISTRATION O R D E R Petitioner Buklod Pagkakaisa ng Mahihirap sa Bagong Silang, Inc. is a non-stock corporation registered with the Commission on 28 October 1994 1 with the following purposes: IaHSCc 1. To forge closer contact, friendly relations, sympathy and understanding among members; 2. To cooperate and maintain wholesome relation with the municipal or city government and similar association for the betterment of its members; 3. To promote unity and mutual understanding among members by helping one another in all undertakings. . .; 4. To initiate, undertake, promote, develop and carry out neighborhood self-help and humanitarian projects. . .; 5. To uplift the socio-economic life of the members of the association; and 6. To acquire properties, real or personal, receive gifts, donations, bequests, legacies and donations here and abroad. 2 Petitioner's business office is at Phase 8-B Package 1-C, Lot 5, Block 3, Bagong Silang, Caloocan City. On 03 November 2003, Petitioner's Certificate of Registration No. AN094-00004154 was revoked pursuant to the Order dated 30 September 2003 for non-compliance with the Commission's reportorial requirements. Said Order was published in a newspaper of general circulation on 04 October 2003. Petitioner now prays for the setting aside of the said Order of Revocation based on the following grounds: 1. to comply with the law and be duly registered with the Commission; 2. its elected officers are very active and willing to continue its operation and functions; and 3. for the protection of its members and officers and to improve the community and environment of concerned members. In support of its Petition, Petitioner submitted its 2006 General Information Sheet (GIS) and 2006 Audited Financial Statements. Petitioner also submitted, as proof of its continued operation, copies of the following documents: TEAcCD a) 2007 Annual Income Tax Return; b) Katitikan ng Taunang Kalahatang Pulong for the "taunang halalan" held on 19 November 2005; c) Katitikan ng pulong/dayalogo held on 12 June 2005 and 30 October 2005; d) Profile of Petitioner BPMBS; e) Resolution 55 of the Board of Trustees of Petitioner dated 30 October 2005; f) Letters of BPMBS President, Ms. Susan B. Alvaro, dated 17 January 2006 and 24 January 2006 to Rep. Oscar Malapitan; g) Certificate of Accreditation (No. 2007-027) issued on 31 May 2007 by the Presidential Commission for the Urban Poor (Office of the President of the Philippines); and h) Documents such as "Office Istimate (dated 10 February 2006)", "Pathwalk Istimate (dated 10 February 2006)", sketch of the subject pathwalk and office, and pictures evidencing the activities and projects of petitioner. 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. In addition, petitioner requests that it be allowed to pay the penalty in the amount of Seven Thousand Seven Hundred Fifty Pesos (Php7,750.00), as assessed by the Company Registration and Monitoring Department, on a staggered basis by making twenty-five percent (25%) down payment and paying the balance in installments. While it is not usual for the Commission to grant such request, it may do so on equitable grounds such as in this case where Petitioner and its members have no financial means to effect full payment of the penalty. WHEREFORE, premises considered, the Order of the Commission dated 30 September 2003 revoking the Certificate of Registration of Buklod Pagkakaisa ng Mahihirap sa Bagong Silang, Inc. is hereby SET ASIDE. Petitioner is hereby directed to pay, within thirty (30) days from receipt hereof, a twenty-five percent (25%) partial payment on the total assessed penalty of Php7,750.00, or Php1,937.50, the remaining balance to be paid every fifth of the succeeding month and on the following schedule: Php1,312.50 on the first succeeding month and Php1,500.00 on the second, third and fourth succeeding months until the total amount of penalty is fully paid. Also, Petitioner is hereby directed to submit a Mayor's Permit for 2008 within thirty (30) days from date of receipt of this Order. Failure on the part of Petitioner to comply with any of the above directives shall cause the recall of the instant Order. 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. SO ORDERED. Mandaluyong City. April 16, 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. EHSTcC