Hon. Jose Conrado Benitez
SEC Opinion • Securities and Exchange Commission • Opinions • Jan 4, 1982
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January 4, 1982 Hon. Jose Conrado Benitez Deputy Minister Human Settlements Development Corp. Ministry of Human Settlements Food Terminal, Inc. Administration Building Taguig, Metro-Manila P.O. Box 1242 MCC, Makati, MM Dear Dr. Benitez: This refers to your letter-query dated November 4, 1981 relative to the Kilusang Kabuhayan at Kaunlaran (KKK). It appears from your letter that the KKK National Secretariat is now in the process of effecting the immediate registration of associations, corporations and partnerships which seek technical and financial assistance under the KKK program as the initial step for the implementation of the same; that it is imperative that these aggrupations be registered in order to vest them juridical personality and avail of the program; that you request that this office deputize the KKK National Secretariat and/or the KKK Regional Action Officers to register the unregistered entities for the attainment of said purpose; and that you are willing to send your lawyers or representative to discuss the mechanics of said registration. After making a thorough and in-depth study of this sensitive matter, we have come up with two alternatives. First, the President of the Batasang Pambansa should pass a law allowing or giving exemption from the requisite legal personality to the unregistered entities participating in the KKK program. Second, if such is not legally feasible even with your intercession and for expediency, said entities have to register with this Commission in accordance with the provision of the Corporation Code of the Philippines and the implementing rules and regulations thereof. Should you choose the second of the above alternatives, we will be glad to sit down with your lawyers or representatives to discuss with them the mechanics of registration. Very truly yours, (SGD.) ROSARIO N. LOPEZ Associate Commissioner
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