Mr. Matias V. Defensor

February 12, 1982 Mr. Matias V. Defensor 14 Pawoi, Quezon City Sir: This has reference to your undated letter wherein you posed the following queries, to wit; 1. Whether proxies carrying the name of the "Philippines Association of Publishers, Inc." a non-existing corporation, be accredited instead as that of the "Publishers Association of the Philippines, Inc." 2. Whether proxies must necessarily be acknowledged before a notary public. LexLib 3. The interpretation of Section 58 of the Corporation Code which requires that proxies shall be submitted before the scheduled meeting. As regards your first query, said proxies may be accredited as that of the "Publishers Association of the Philippines, Inc." provided that it can be shown that such proxies are intended for the forthcoming election of the corporation. The acceptability of said proxies shall be decided by the person, officer, body or committee authorized to decide its acceptability. With regards to the second query, it will be noted that the by-laws of the corporation does not contain any provision as to the mode of execution/securing of proxies. Hence, proxies may not be acknowledged before a notary public. The Corporation Code does not inquire that proxies be notarized. Although Section 58 of this Corporation Code does not expressly provide for the exact time as to when proxies are submitted, it could be implied from the provision that proxies be submitted at any time before the scheduled meeting, provided that sufficient time be given to determine the validity of the proxy. The determination of sufficiency of time may be left to the person, body or committee authorized to decide the acceptability of proxies. Take note that under the proposed rules and regulations implementing Section 58 of the Corporation Code, proxies must be filed at least one day before the scheduled meeting, unless otherwise provided for in the by-laws. Please be advised accordingly. Very truly yours, (SGD.) ROSARIO N. LOPEZ Associate Commissioner