Final Extension of the Period Within Which to Avail of the Amnesty on Late/Non-Submission of Reportorial Requirements With Surcharge

February 5, 1987 SEC-SMD * MEMORANDUM CIRCULAR NO. 10-87 TO : All Corporations SUBJECT : Final Extension of the Period Within Which to Avail of the Amnesty on Late/Non-Submission of Reportorial Requirements With Surcharge In view of the numerous petitions coming nationwide from the concerned corporations, the Commission during its meeting on January 29, 1987, resolved to re-extend once and for all the period for availing of the amnesty granted under Circular No. 5, up to April 30, 1987. This final extension, however, shall subject the corporation to a surcharge in addition to the compromise penalty imposed, to wit: 1. For those availing during the period from February 16 to March 15, 1987, a surcharge of 10% of the compromise penalty shall be imposed. 2. For those availing during the period from March 16 to April 15, 1987, a surcharge of 20% of the compromise penalty shall be imposed. 3. For those availing during the period from April 16 to April 30, 1987 a surcharge of 30% of the compromise penalty shall be imposed. (SGD.) JULIO A. SULIT, JR. Chairman Footnotes * Supervisory and Monitoring Department; now Company Registration and Monitoring Department