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Hon. Jaime C. Laya

SEC Opinion • Securities and Exchange Commission • Opinions • Feb 27, 1985

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February 27, 1985 Hon. Jaime C. Laya Ministry of Education, Culture & Sports Palacio del Governador Manila Dear Minister Laya, This relates to your letters dated February 21, 1985 and January 31, 1985, respectively, requesting the guidance of this Commission on the appropriate procedure to follow in effecting changes in the by-laws of Philippine Public School Teachers' Association (PPSTA). It appears that on May 16, 1979, L.O.I. 860 was issued by the President, directing the Minister of Education and Culture to immediately take over the management and control of the Philippine Public School Teachers' Association (PPSTA), and institute reforms therein, as well as take such other actions as may be necessary to insure the stability and continued operation of the Association. In this connection, you deem it necessary for the PPSTA to revert to its 1971 amended constitution and by-laws, incorporating therein certain provisions of the 1979 new constitution and by-laws and other amendments as specified in your PPSTA Directive No. 1985-1, paragraph 2, letters a, b, c, d, and e thereof. In the light of L.O.I. 860 granting you management and control of PPSTA, it is opined that you may so formalize such changes by consolidating all the provisions of the 1971 and 1979 amended by-laws of PPSTA in a new or amended by-laws of the Association. It is, however, advised that this Commission be furnished with a copy of the new or amended constitution and by-laws of the Association for purposes of updating the corporate record of the Association on file in this Commission. llcd Very truly yours, (SGD.) MANUEL G. ABELLO Chairman

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