New Fees and Charges

July 1, 1994 SEC MEMORANDUM CIRCULAR NO. 02-94 TO : All Concerned SUBJECT : New Fees and Charges As per Executive Session dated April 19, 1994, the herein attached list of new fees and charges is hereby imposed by the Commission. This takes effect July 1, 1994. For strict compliance. (SGD.) ROSARIO N. LOPEZ Chairman SECURITIES AND EXCHANGE COMMISSION New Fees and Charges ACTIVITIES AMOUNT RECORDS DIVISION Certification of corporate filing P100.00 Certification of capital structure and/or 200.00 percentage of ownership Negative certification 50.00 Certification of good standing 400.00 Service fee for borrowing of records 10.00 Service fee for borrowing of financial statements 10.00 Reservation fee 20.00 Certified true copies 10.00/document plus double spaced 2.00/page single spaced 2.00/page Microfilming 10.00/corp. plus 2.00/page SUPERVISION AND MONITORING DEPARTMENT Registration fee for stock and transfer book P100.00 Registration fee for membership 50.00 Filing fee for petition to set aside Order of Suspension for 1) Stock Corporation 400.00 2) Non-Stock Corporation 200.00 MONEY MARKET OPERATIONS DEPARTMENT I. Short-term Commercial Paper 1. Original Applications and Renewals: Not more than 1/50th of 1% based on total No change CPs Proposed to be issued (Sec. 15 (A)) Annual exemption fee for financial inter- No change mediaries with QB: P10,000.00 (Sec. 15(B)) Exemption fee for exempt issuers Annual exemption fee of under Sec. 4 (F): none (No not more than 1/50th of provision in rules) 1% based on total CPs proposed to be issued II. Long-term Commercial Paper 1. Original applications and renewals: 1/20th of 1 % based on total CPs proposed 1/20th of 1% based to be issued but not to exceed P75,000.00 on total CPs proposed to be issued Exemption fee for exempt issuers under No change Sec. 8(A): P10,000.00 (Sec. 14(B)) Exemption fee for exemption issuers Exemption fee of not under Sec. 7 (G): None (No provision more than 1/20th of in the rules) 1% based on total CPs proposed to be issued III. Bonds 1. Application for Registration: A filing fee of 1/10th of 1% based on No change total bonds proposed to be issued (Sec. VI (A) of Interim Guidelines for Registration of Bonds) 2. For issuers of bonds exempt under Sec. 6 (B) of the RSA: An exemption fee of 1/10th of 1% on the No change aggregate value of the bonds (Sec. VI(B) of the Interim Guidelines for Registration Bonds) IV. Original Application Fee for Investment Houses: 1. Head Office P1,010.00 P50,000.00 (Per Circular No. 1 series of 1986) 2. Branch Office P1,010.00 for 10,000.00 for each branch office each branch/ extension office V. Renewal Application Fee 1. Head Office - P1,010.00 10,000.00 2. Branch Office - P1,010.00 5,000.00 for each branch In the event that the provisions for the annual renewal of licenses is deleted in PD 129 annual fee of P10,000.00 is proposed to be charged for the head office while, P5,000.00 shall be charged for each branch which shall be payable on or before January 15 of each year for as long as the license to operate is in effect. P.D. 129 does not provide for payment of any fee. The IH Rules provide only for an annual fee of P200.00. The above fees presently being charged were duly adopted and approved by the Commission. VI. Filing Fee Required of New Financing Companies: 1/10 of 1% of the minimum paid-up capital 1/10 of 1% of the or capital contributions required under paid-up capital Section 2.b of the New Rules and but in no case Regulations to Implement the Provisions more than Fifty of RA 5980 (The Financing Company Thousand Pesos Act) (Sec. 7 of the New Rules) (P50,000.00)or less than that to be charged as annual fee. VII. Annual Fee for FCs: Metro Manila P15,000.00 1st Class City 7,500.00 2nd Class City & 1st Class 3,750.00 Municipality 3rd Class City & 2nd 1,500.00 Class Municipality below 4th Class City & 3rd 750.00 Class Municipality below VIII. Filing/Annual Fee required of branches of financing companies: 1/20 of 1% of the additional required capital under Sec. 5c; of the New Rules and Regulations to Implement RA 5980 (The Financing Company Act) but in no case less than P250.00, (Sec. 7 of the New Rules). IX. Branches located in: Metro Manila P1,000.00 All others 500.00 BROKERS AND EXCHANGES DEPARTMENT Registration of Securities 1/10 of 1% of maximum aggregate price at which securities are proposed to be offered +1% legal fees Price increase of Securities 1/10 of 1% of the increase in price Petition for Amendment of Registration P250.00+other fees Statement/All Applications Petition for Additional Licensing P250.00+other fees of securities/plans Listing of Securities 2,500.00+other fees Additional Listing of Securities 2,500.00+other fees Delisting of Securities 400.00+other fees Releasing of Securities 1,000.00 Petition for authority to Issue 1/10 of 1% of the Stock Option Plan offered shares subject of the plan Petition to Amend Stock Option 250.00+other fees Plan Registration of Offer of Pre-emptive 5,000.00+other fees Rights Licensing of Broker 3,000.00+other fees Renewal of License of Securities 3,000.00+other fees Broker Licensing of Dealer 2,000.00+other fees Renewal of License of Dealer 2,000.00+other fees Licensing of Securities Broker's 200.00+other fees Salesmen Licensing of Transfer Agent 3,000.00+other fees Licensing of Clearing House 3,000.00+other fees Additional fees for the privilege of doing business as a securities exchange On the first P2B or less of the 1/300 of 1% total amount of sales of securities during the preceding year On any amount over P2B but not 1/200 of 1% more than P4B of said sales On any amount over 4B 1/100 of 1% Registration of Pre-Need Plans 1/10 of 1% of the maximum aggregate price at which the plans are proposed to be sold +1% legal fees Licensing of Dealers in Pre-Need Plans 2,000.00+other fees Renewal of License of Dealers in 2,000.00+other fee Pre-Need Plans Licensing of Pre-Need Salesmen 100.00+other fees Opening/Transfer of Branches of Pre-Need Companies: a) within Metro Manila 2,000.00+other fees b) outside Metro Manila 1,000.00+other fees Licensing/Renewal of License of 3,000.00+other fees Commodity Futures(CF)Market Fee for the privilege of doing 1/100 of 1% of business as commodity futures commission collected exchange by brokers from contracts transacted in the exchange during the preceding year. Licensing of Commodity Futures 3,000.00+other fees Brokers Licensing/Renewal of License 3,000.00+other fees of CF Brokers Licensing of CF Broker's 200.00+other fees Salesmen/Traders Exam fee for CF Traders/Salesmen/ 200.00+other fees Advisors Registration of CF Pool Operator 1,500.00+other fees Commodity Trading Advisors Renewal of Registration of CF 1,500.00+other fees Pool Operator Licensing of CF Trading Advisor 1,500.00+other fees Licensing of Hedgers 2,500.00+other fees Opening of branch of CF Broker 2,000.00+other fees Petition to Amend Order Authorizing 1,000.00+other fees CF Merchants/Broker to Operate Authority to Operate An Investment 3,000.00+other fees Company Registration of Management Company 2,000.00+other fees Licensing of Mutual Fund Agent 200.00+other fees Exam fee for Mutual Fund Agents 200.00+other fees Exam fee for Broker's Salesmen 200.00+other fees Certifications 50.00+other fees SECURITIES INVESTIGATION AND CLEARING DEPARTMENT Where there is a money claim no ceiling No money claim P500.00 Service fee for legal process/ 50.00 orders issued by SICD Certifications of status/existence 50.00 of case OFFICE OF COMMISSION SECRETARY Certification P50.00 EXAMINERS AND APPRAISERS DEPARTMENT Examining and filing fee for articles of Incorporation: a) Stock corporation with par value 1/10 of 1% of the authorized capital stock plus 20% but not less than P500.00 b) Stock corporation without par value 1/10 of 1% of the authorized capital stock computed at P100.00 per share above or at aggregate assigned value of subscribed capital stock whichever is higher but not less than P500.00 Examining and filing fee for non- 200.00 stock corporation Examining and filing fee for conversion 1,000.00 from non-stock propriety to stock corporation with or without par value Examining and filing fee for amended 200.00 articles of incorporation of both stock and non-stock corporations Conversion/reclassification of shares 1,000.00 Examining and filing fee for by-laws 200.00 of both stock and non-stock corporation Examining and filing fee for amended 200.00 by-laws of both stock and non-stock corporations Dissolution of corporation 200.00 Examining and filing of certificate of increase of the capital stock of: a) corporation with par value 1/10 of 1% of the increase in capital stock or aggregate assigned value of subscribed capital stock whichever is higher but not less than P500.00 b) corporation without par value 1/10 of 1% of the increase in capital stock computed at P100.00 per share or subscribed capital stock at its assigned value whichever is higher but not less than P500.00 Examining and filing fee for P1,000.00 certificate of decrease of capital stock of a corporation Examining and filing fee for 1/10 of 1% of the total certificate of incurring creating on indebtedness but not increasing bonded indebtedness less than P500.00 Fee for merger or consolidation 1/10 of 1% of the equity of corporation of the absorbed corporations which was used as basis of the merger or consolidation CORPORATE AND LEGAL DEPARTMENT Filing fee for licensing of: a) Foreign corporations 1% of the actual inward remittance of the branch of foreign corporation converted into Philippine currency but not less than P1,000.00 b) Representative Office 1/10 of 1% of the amount actually remitted to the Philippines converted into Philippine currency but not less than P1,000.00 c) Filing fee for licensing of 2,000.00 regional headquarters of multi- national corporations d) Non-Stock foreign corporation 500.00 Filing fee for petition for amend- 500.00 ment of license Custodian fee for acceptance of de- 2,000.00 posit of securities of foreign cor- poration Filing fee for the revocation of the 500.00 license of a foreign corporation Filing fee for the appointment of a 500.00 resident agent or substitute resident agent Filing fee for the revocation of the 500.00 appointment of resident agent or substitute agent Filing fee for the filing of amended 500.00 articles of incorporation of a foreign corporation Filing fee for the filing of amended by- 500.00 laws of a foreign corporation Filing fee for the cancellation of license 500.00 of regional headquarters of multinational corporations Deed of assignment of shares of a P100.00 stockholder in a corporation Fee for petition to increase selling 1/10 of 1% of the prices of securities increase in price but not less than P1,000.00 nor more than P100,000.00 II. PARTNERSHIP Recording fee for articles of 1/10 of 1% of the partnership partnership's capital but not less than P500.00 Examining and recording fee for: a) Amended articles of partnership P500.00 b) Increase of capital of 1/10 of 1% of the partnership increase in capital but not less than P500.00 Deed of assignment of partnership 100.00 interest executed by a partner in partnership Filing fee for power of attorney 100.00 executed in favor of a partner Dissolution of partnership 200.00 III. OTHER FEES Clearance for bidding purposes 50.00 Service fee for express lane 100.00 Fee for granting a general or 1/10 of 1% of the particular exemption of securities aggregate par from registration or issue value of securities whichever is higher but not less than P500.00 Examining and filing fee for 3,000.00 quasi-reorganization Filing fee for licensing of regional 2,000.00 headquarters of multinational corporations