Atty. Ariel M. Los Baños
SEC Opinion • Securities and Exchange Commission • Opinions • Dec 29, 1989
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December 29, 1989 Atty. Ariel M. Los Baos 4th Floor, P.B. Gonzales Bldg. 1186 Quezon Avenue Quezon City Sir : This refers to your letter dated September 30, 1989, requesting an official certification that the Philippine Basketball Association (PBA) is not registered with the Commission and inquiring whether said association can legally operate. Per certification issued by Irenea V. Tienzo, Director, Administrative and Finance Department of this Commission. dated October 10, 1989, copy hereto attached, the records of this Commission do not show the registration of PBA, either as a corporation or as a partnership. However, the closest names to the said firm which are registered are the following: 1. Professional Basketball Players Association of the Philippines. SEC. Reg. No. 109007; 2. Philippine Amateur Basketball League, Inc. SEC Reg. No. 168026. It should be noted, however, that if a corporation is operating under a special charter, it need not register with the Commission in order to acquire a legal personality since the grantee of such a special charter draws its life not from compliance with a general law, but from the direct act of Congress ( SEC Opinion dated May 28, 1970 ). For further information, it is suggested that you communicate directly with the Games and Amusements Board regarding the existence and status of the PBA. Please be advised accordingly. Very truly yours, (SGD.) RODOLFO L. SAMARISTA Associate Commissioner
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