Mr. Edward Timothy P. Gavino

March 23, 1990 Mr. Edward Timothy P. Gavino No. 118 Matimtiman St. Sikatuna Village, Diliman Quezon City 1101 Metro Manila S i r : This refers to your letter dated February 22, 1990 requesting information on the following queries: "1. In cases of GOVERNMENT TO GOVERNMENT JOINT VENTURE PROJECTS, are there any documents, that will be submitted to the Securities and Exchange Commission for registration purposes. If yes, what are these documents?" "2. How long will it take to accomplish procedures assuming all documents have been submitted?" "3. Can the SEC assign an authorized representative to assist both parties?" "4. Can the foreign government expect full cooperation from the Philippine Securities and Exchange Commission?" Relative thereto, please be informed that this Commission has no jurisdiction over joint venture projects entered into by the Philippine government with foreign governments. Since the issue raised in your letter involves application of present state policies on foreign relations with other states, it is suggested that the matter be referred to the Office of the President who has jurisdiction over the same. Very truly yours, (SGD.) ROSARIO N. LOPEZ Chairman