Mr. Nathan C. Zulueta

April 2, 1980 Mr. Nathan C. Zulueta Suite 404 R.C. Gaite Condominium 1770 Reposo St.,Makati Metro Manila Sir : In connection with your letter dated January 15, 1980, requesting information as to the present status of Film Institute of the Philippines, Inc., please be informed that the records of this Commission show that up to this date, said corporation has not submitted its Code of By-Laws required by Section 20 of Act 1459, as amended, otherwise known as the Corporation Law, which reads: "SECTION 20. Every corporation formed under this Act must within one (1) month after the filing of the articles of incorporation with the Securities and Exchange Commission, adopt a Code of By-Laws for its government and a copy thereof, duly certified to by a majority of the directors and countersigned by the Secretary of the corporation, shall be filed with the Securities and Exchange Commission who shall attached the same to the original articles of incorporation . . . ." In this connection, your attention is invited to the provisions of PD 902-A, granting new power to this Commission to revoke or suspend the registration of a corporation, partnership, association falling under the jurisdiction upon any of the grounds provided by law or upon any of the following: "xxx xxx xxx "5. Failure to file by-laws within the required period." Considering that according to the records of this Commission, your company has been in existence since October 3, 1977, your continued failure to file your by-laws with this Commission falls squarely within the intention of the aforequoted provision of the new law. Accordingly, you are granted a period of fifteen (15) days from date of your receipt hereof within which to submit to this Office three (3) copies of your duly adopted and certified by-laws, together with the filing fee of P27.00. Very truly yours, (SGD.) ROSARIO N. LOPEZ Director Corporate and Legal Department