SEC Memorandum Circular No. 05-11
On August 4, 2011, the Securities and Exchange Commission (SEC) of the Philippines issued Memorandum Circular No. 05-11, which amended the previous SEC Memorandum Circular No. 5 from 2008. The amendment involved the removal of a requirement that subsidiaries or affiliates of foreign corporations must include the word "Philippines" or its abbreviation in their names when registering. This change was effective immediately following the resolution made by the Commission En Banc during their meeting on July 28, 2011. The circular was signed by Chairperson Teresita J. Herbosa.
Law Information
- Reference Number
- SEC Memorandum Circular No. 05-11
- Date Enacted
- Category
- Other Rules and Procedures
- Subcategory
- Business Names
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
August 4, 2011
SEC MEMORANDUM CIRCULAR NO. 05-11
The Commission En Banc in its meeting of July 28, 2011 resolved to amend SEC Memorandum Circular No. 5, Series of 2008 (Guidelines and Procedures on the Use of Corporate and Partnership Names) dated July 17, 2008 by deleting Section 8 thereof which provides:
"8. A subsidiary or affiliate of a foreign corporation that applies for the registration of all or substantially all of the name of its parent company shall use the word "Philippines" as part of its name which shall be written as "(Philippines)" or "(Phil.)" after the name."
This amendment shall take effect immediately. HCDAac
August 4, 2011
Mandaluyong City, Philippines.
(SGD.) TERESITA J. HERBOSAChairperson
Cite This Law
SEC Memorandum Circular No. 05-11, SEC Memorandum Circular No. 05-11, Aug 4, 2011 (Philippines)
SEC Memorandum Circular No. 05-11, SEC Memorandum Circular No. 05-11 (Phil. 2011)
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