Amendment to R.A. No. 62 Re: Proof of Ownership of Securities
Republic Act No. 148, enacted on June 14, 1947, amends a provision of Republic Act No. 62 regarding the submission of evidence of ownership for securities by security holders. The amendment allows the Securities and Exchange Commission to grant extensions for presenting proof of ownership, with each extension lasting up to six months, and a maximum total extension period of two years from the original deadline. This law aims to provide flexibility for security holders in fulfilling ownership requirements. The Act takes effect upon its approval and was published in the Official Gazette in July 1947.
Law Information
- Reference Number
- Republic Act No. 148
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 14, 1947
REPUBLIC ACT NO. 148
AN ACT TO AMEND PARAGRAPH "C", SECTION ONE OF REPUBLIC ACT NUMBERED SIXTY-TWO
Paragraph C, section one of Republic Act Numbered Sixty-two is hereby amended to read as follows:
"C. Security holders shall submit to the issuer the evidence of their ownership of securities within the period prescribed pursuant to paragraph A of this section. Upon proper cause shown, the Securities and Exchange Commission may, in general or specific cases, grant extensions of time for the presentation of proof of ownership of securities, for periods not exceeding six months at a time, but in no case shall the total extended period exceed two years from the expiration of the original period."
SECTION 2. This Act shall take effect upon its approval.
Approved: June 14, 1947
Published in the Official Gazette, Vol. 43, No. 7, p. 2595 in July 1947
Cite This Law
Amendment to R.A. No. 62 Re: Proof of Ownership of Securities, Republic Act No. 148, Jun 14, 1947 (Philippines)
Amendment to R.A. No. 62 Re: Proof of Ownership of Securities, Republic Act No. 148 (Phil. 1947)
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- Amendment to the 2005 Implementing Rules and Regulations of R.A. No. 7459IRR of RA 7459 (Amendment) • Feb 3, 2010 • Implementing Rules and Regulations
- 2015 Implementing Rules and Regulations of the Securities Regulation CodeIRR of RA 8799 • Aug 4, 2015 • Implementing Rules and Regulations
- Letter of Implementation No. 62Letter of Implementation No. 62 • Feb 23, 1978 • Presidential Issuances
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