Work Procedures to Be Adopted in the Implementation of Executive Order No. 98

October 29, 1999 SEC MEMORANDUM CIRCULAR NO. 22-99 TO : All Concerned SUBJECT : Work Procedures to be Adopted in the Implementation of Executive O rde r No. 98 Pursuant to Executive Order No. 98, SEC Memorandum Circular No. 20, series of 1999 was issued requiring the mandatory incorporation of the Taxpayer Identification Number (TIN) in all forms, papers and documents. To implement Executive Order No. 98, the following work procedures shall be adopted: 1. From the License Control Unit/ Document Tracking Unit A copy of the following forms shall be forwarded to the BIR verifier assigned at the SEC on a daily basis: 1.1 Articles of Incorporation/Partnership for Express Lane Processing 1.2 Registration Data Sheet (RDS) and Company Data Maintenance Form for Amendments and Regular Processing 1.3 Application for Exemption of Registration of Securities 1.4 Name Relationship Data Maintenance Form 1.5 Secondary License Application Form 1.6 General Information Sheet 2. Records Division forwards other copies of documents to the Operating Department. 3. BIR verifies TIN of Incorporator/Partners/, Stockholders/Trustees. 4. Upon receipt of documents from BIR, releasing clerk of Records segregates the documents as follows: 4.1 All TIN are valid releases the Certificate of Incorporation/ Certificate of Amendment, Certificates/ Permits/ License for Secondary License are released. 4.2 TIN needs resolution Letter is given to Liaison Officer that TIN has to be resolved. Certificate of Incorporation/ Amendment is released. Certificates/ Permits/ License for Secondary License are released. 4.3 TIN is invalid Advice form letter is given to the Liaison Officer. Certificate of Incorporation/ Amendment is not released. Certificate of Incorporation/Amendment Certificates/Permits/License for Secondary License is released only upon proof that TIN is valid. 4.4 For General Information Sheet this is forwarded to the Supervision and Monitoring Department. 5. Supervision and Monitoring Department shall ensure that the following procedures are followed: 5.1 All TIN are valid Data entry of TIN 5.2 TIN needs resolution Prepare letter re: findings of BIR 5.3 TIN are invalid Advice form letter is forwarded to company. 6. For Secondary License application this is forwarded to either the Money Market Operations Department, the Brokers and Exchanges Department or the Pre-Need (AD HOC) The concerned departments shall ensure the following procedures are followed: 6.1 All TIN are valid releases the Certificate/Permit/License. Data entry of TIN. 6.2 TIN needs resolution releases the Certificate/Permit/License. Prepare letter re: findings of BIR 6.3 TIN are invalid Advice letter is forwarded to company. Certificate/Permit/License is not released. For your information and implementation. (SGD.) PERFECTO R. YASAY, JR. Chairman