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Mr. Victor S. Lucero, Jr.

SEC Opinion • Securities and Exchange Commission • Opinions • Nov 28, 1983

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November 28, 1983 Mr. Victor S. Lucero, Jr. Interlincs Manpower Services Club, Inc. Suite 046, Ground Floor First Cityland Condominium, Rada St. Legaspi Village, Makati Sir : This has reference to your letter dated February 9, 1983 which was endorsed by the Office of the President to this Commission on July 14, 1983 for comments and/or appropriate action. It appears that the above-named association was organized to assist its members to acquire training and technical knowledge and recommend them for employment. After two (2) years of operations, the board of directors now intends to dissolve the association due to "intrigues and machinations of people very close to higher authorities". Relative thereto, you now request for comment and recommendations. The Commission has noted the noble objectives of your Club as well as your efforts to attain the same. However, it is unfortunate that this Commission cannot render an appropriate opinion on whether or not to advise on the propriety of ending the corporate life of the association since this matter remains the internal concern of the association and falls within the power of the directors and members to decide. Very truly yours, (SGD.) GONZALO T. SANTOS, JR. Associate Commissioner

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