Mr. Wigberto P. Clavecilla

September 29, 1982 Mr. Wigberto P. Clavecilla W.P. Clavecilla, Inc. 14th Floor Philcomcen Bldg., Ortigas Avenue, Pasig, M.M. Sir : This refers to your letter of 24 September, 1982 seeking exemption from the application of SEC opinion dated 1 April, 1981 to the effect that "a corporation desiring to adopt a business name or style other than its corporate name is required to state the business name in the articles of said corporation." It appears that the Bureau of Domestic Trade has denied the registration of business name or style of your client invoking the aforesaid SEC opinion; That the problem arises because your client, by the very nature of its business which is a management holding firm, cannot predict much less foresee the specific name and style and the number of divisions it will subsequently create, and that it would be impractical and cumbersome to continue amending its articles of incorporation only for the purpose of altering the business name and style everytime a new division is opened under a new business name. In view of the foregoing reasons which we find valid and justifiable, this Commission is inclined to grant your request. Please be informed also that the SEC is now subject to review by an inter-agency government committee in order to delimit the application/coverage thereof. We shall inform you that those similarly situated once we have arrived on a clear-cut policy on the matter. Very truly yours, (SGD.) ROSARIO N. LOPEZ Associate Commissioner