Mr. B. Buckroyd
SEC Opinion • Securities and Exchange Commission • Opinions • Jul 24, 1981
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July 24, 1981 Mr. B. Buckroyd Acting Chairman Philippine Association of Multinational Companies' Regional Headquarters, Inc. 6th Flr. Salamin Bldg. Salcedo Street, Legaspi Village Makati, Metro Manila Dear Mr. Buckroyd: This refers to your letter informing this Commission of the desire of the board of directors of that association to be recognized as the sole and only registered association to represent all active regional headquarters of multinational corporations registered pursuant to P.D. 218. The right to form associations or societies for purposes not contrary to law is a basic right granted by the 1973 Constitution of the Philippines (Art. IV, Sec. 7). This right can not be abridged by withholding recognition of another association with identical purpose even with common or different members. Hence, in other regional headquarters of multinational corporations incorporate another association under a different name, this, commission can allow its registration. It is informed, however, that this Commission observes a policy protecting the name of a corporation or association priorly registered with this Office from being used by a latter registrant corporation. In order to preclude your members from joining other associations of similar nature, it is suggested that you provide it in your by-laws as a ground for disqualifying them from membership in your association. llcd We regret, therefore, that we can not grant your request. Very truly yours, (SGD.) ROSARIO N. LOPEZ Director Corporate and Legal Department
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