Engr. Nel E. Atok, et al.
SEC Opinion • Securities and Exchange Commission • Opinions • Oct 28, 1992
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October 28, 1992 Engr. Nel E. Atok, et al. Chairman South East/Asian Mariners, Engineer & Navigators Assn. (SEAMEN) c/o Golden Horizon Gate B, South Blvd.,Rizal Park, Manila S i r : This refers to your letter of October 13, 1992 questioning the issuance of POEA Circular No. 73, Series of 1992 which defers indefinitely the implementation of the SEC Opinion relative to foreign participation in the management of recruitment/manning agencies rendered pursuant to the ruling of the Department of Justice RE: Opinion No. 37, Series of 1976, and provisions of Commonwealth Act No. 108, as amended by P. D. 715. We regret to inform you, that it is not within our power to question the acts of other government agencies. However, please be advised that the above-mentioned POEA Circular would not in any way affect our ruling on the matter. Thus, if you know of any corporation violating the aforementioned SEC ruling, you may file a formal complaint with our Prosecution and Enforcement Department so that the same will be properly investigated. prcd Very truly yours, (SGD.) ROSARIO N. LOPEZ Chairman
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