Guidelines on the Issuance of Certification of Paid-Up Capital

August 18, 2016 SEC MEMORANDUM CIRCULAR NO. 13, S. 2016 TO : All Concerned SUBJECT : Guidelines on the Issuance of Certification of Paid-Up Capital The Commission En Banc, in its meeting of 11 August 2016, resolved to issue the Guidelines on the Issuance of Certification of Paid-Up Capital, as follows: 1. A certification of paid-up capital shall be issued upon request to be filed at the Company Registration and Monitoring Department (CRMD) and Extension Offices (EOs) of the Commission. 2. A certification of paid-up capital may be based on the following: a) Audited Financial Statements (AFS) as of the last fiscal year stamped received by the Bureau of Internal Revenue (BIR) and Securities and Exchange Commission (SEC); or b) Audited Interim Financial Statements duly received by the Commission; or c) Articles of Incorporation, with reference to the paid-up capital in the Treasurer's Affidavit and as certified by the Treasurer-in-Trust; or d) Latest Approved Certificate of Filing of Increase of Capital Stock, supported by a report of the Financial Analysis and Audit Division (FAAD) or Corporate and Partnership Registration Division (CPRD) of CRMD or by SEC Extension Offices. 3. The corporation shall submit the following: a) Duly accomplished request form stating the basis of certification in accordance with item no. 2; b) Audited Financial Statements as of the last fiscal year stamped received by BIR and SEC; or c) Audited Interim Financial Statements duly received by the Commission, in case there is/are payments to unpaid subscription(s) after the issuance of the AFS as of last fiscal year. d) Notarized Secretary's Certificate on No Pending Intra-Corporate Dispute; and e) Monitoring Clearance. 4. The filing fee in the amount of PhP1,000.00 shall be paid for the issuance of the certification. CAIHTE 5. This Memorandum Circular shall take effect immediately after its publication in a newspaper of general circulation. August 18, 2016, Mandaluyong City, Philippines. FOR THE COMMISSION: (SGD.) TERESITA J. HERBOSA Chairperson