In the Matter of the Philippine Association of Local Treasurers and Assessors, Inc.

February 5, 2008 SEC EN BANC CASE NO. 12-07-0310 IN THE MATTER OF THE PHILIPPINE ASSOCIATION OF LOCAL TREASURERS AND ASSESSORS (PHALTRA), INC. (SEC REG. NO. 21023) , petitioner. LIFTING OF THE ORDER OF REVOCATION OF THE CERTIFICATE OF REGISTRATION O R D E R Petitioner THE PHILIPPINE ASSOCIATION OF LOCAL TREASURERS AND ASSESSORS (PHALTRA), INC. is a non-stock corporation registered with the Commission on July 10, 1962 to "establish and maintain firmly the unity and solidarity of its members." It has its principal office in the City of Manila, Philippines. On May 26, 2003, Petitioner's Certificate of Registration was revoked by virtue of an Order dated April 22, 2003, which was published April 25, 2003, for non-compliance with the Commission's reportorial requirements. Petitioner now prays for the lifting of the said Order of Revocation on the ground that the corporation remains active and a continuing business concern and it has to continue its existence in order to serve the best interest of its members and improve the government service and to accomplish among others the objectives of establishing and maintaining firmly the unity and solidarity of its members; to work for the realization of the policies and objectives of the Association through the wholehearted cooperation and unity of its members. As proof of its operation, Petitioner submitted the following: 1) Mayor's Permit/Business Permit for the calendar year 2007, issued on March 26, 2007 AEITDH 2) Barangay Business Clearance issued on March 9, 2007 3) Annual Income Tax Return for the Year 2006 stamped received by the Bureau of Internal Revenue. 4) 73rd Anniversary Issue of the PHALTRA FLASH REPORT dated April 18-21, 2006 5) Cover Article in the Philippines FREE PRESS issue dated February 10, 2007 chronicling the growth of the subject association 6) Computer Print Out of pictures outlining the activities of PHALTRA in line with the inauguration of its building on January 5, 2007 7) General Information Sheet (GIS) for the calendar years 2000-2003 and 2007 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. It also paid in full the penalty of Seventy One Thousand Pesos (P71,000.00), as evidenced by Official Receipt No. 0124316, which amount was assessed by the Law and Regulation Division of the Company Registration and Monitoring Department (CRMD). WHEREFORE, premises considered, the Order of the Commission dated April 22, 2003, revoking the Certificate of Registration of THE PHILIPPINE ASSOCIATION OF LOCAL TREASURERS AND ASSESSORS (PHALTRA), INC. is hereby SET ASIDE. 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. SHAcID SO ORDERED. Mandaluyong City. February 5, 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