Mr. Angelo Noel R. Flores
SEC Opinion • Securities and Exchange Commission • Opinions • Dec 27, 1989
Full text
December 27, 1989 Mr. Angelo Noel R. Flores Camalig Multi-Purpose Cooperative. Inc. D.G. Valenciano Street Camalig, Albay Sir : This refers to your letter dated November 15, 1989, inquiring on whether Camalig Multi-Purpose Cooperative, Inc., which is already registered with the Bureau of Cooperative Development, has to be registered with the Commission. In connection therewith, please be advised that under Presidential Decree No. 175, as amended, the registration, regulation and supervision of "Cooperatives" are now vested with the Bureau of Cooperatives Development under the Department of Agriculture. As such, this Commission has no more jurisdiction over the same. Accordingly, there is no need to register the above-mentioned cooperative with this Commission. llcd Very truly yours, (SGD.) FE ELOISA C. GLORIA Director Corporate and Legal Department
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