SEC Administrative Case No. 02-16-177 In the matter of: Grandtime Automobile Inc. Enforcement and Investor Protection Department Movant.

Republic of the Philippines Department of Finance Securities and Exchange Commission

In the Matter of:

GRANDTIME AUTOMOBILE INC.

SEC-CD0 CASE N0. 10-15-027

PROTECTION DEPARTMENT, ENFORCEMENT AND INVESTOR FOR: Cease and Desist Order Issuance of Permanent

Movant.

ORDER

Issuance Permanent Cease and Desist Order (Motion for Issuance of Permanent CDO) filed on 8 June 2016 by the Enforcement and Investor Protection Department (EIPD) of this Commission against GRANDTIME AUTOMOBILE INC. (GTA) praying that the Cease and Desist Order (CD0) issued on 26 January 2016 be declared permanent.1 Pending consideration before the Commission En Banc is a Motion for

branches, if any, of GTA.3 investment contracts, without the required registration statement which is in violation of Sections 8 and 12 of the Securities Regulation Code.2 The Commission En Banc held that the investment scheme of GTA in the offering for sale and the selling of investment contracts is present considering the existence of all four (4) President, General Manager, Corporate Secretary, Treasurer, In-House Counsel or partners; 2) post copies of the CD0 at the entrance of the main office and/or GTA finding it to be engaged in the offering for sale of securities, in the form of elements thereof. The CDO directed the EIPD to: 1) serve the same to GTA, its To recall, the Commission En Banc issued the CDO against, among others,

mother.4 The EIPD likewise stated, in the instant Motion for Issuance of Permanent proceeded to serve the CDO on Romell M. Hermida, who is one of the incorporators and directors of GTA, at his residential address and was received by the latter's On 15 March 2016, the EIPD filed its Compliance stating, among others, that it

3 CDO, pp.4,5 and 7. 4 Compliance, par. 4. 2 Republic Act No.8799 (2000). : Motion for CDO dated I June 2016.

SEC CDO Case No. 10-15-027 Page 2 of 3 In the matter of: Grandtime Automobile Inc

CDO, that it served the CDO on Incorporator/Director Romell M. Hermida and was likewise received by his mother.5

or request to lift the CDO. Thus, the EIPD prays that an order be issued making the CDO permanent.6 However, to date, the parties subject to the CDo have not filed any motion

Section 64.3 of the SRC provides the following:

"64.3. Any person against whom a cease and desist order was hearing by the Commission not later than fifteen (15) days from its issued may, within five (5)_days from receipt of the order file a formal request for a lifting thereof. Said request shall be set for filing and the resolution thereof shall be made not later than ten (10) days from the termination of the hearing. If the Commission fails to

desist order shall automatically be lifted." resolve the request within the time herein prescribed, the cease and

motion or formal request to lift the said CDO pursuant to such order and Section 64.3 of the SRC. Thus, the Commission is constrained to render the CD0 issued on 26 January 2016 as PERMANENT. In the case at bar, to date, the parties subject to the CDO failed to file a

directors, agents, representatives, conduits, assigns, AND ANY AND ALL PERSONS CLAIMING AND ACTING FOR AND IN THEIR BEHALF are, is hereby MADE and Desist Order is hereby GRANTED and the CEASE AND DESIST ORDER issued on PERMANENT. 26 January 2016 against GRANDTIME AUTOMOBILE INC., its partners, officers, WHEREFORE, premises considered, the Motion for Issuance Permanent Cease

hereby DIRECTED to: (a) serve this Order to the President, General Manager, GRANDTIME AUTOMOBILE INC.; and (b) post copies of the Order at the entrance of Corporate Secretary, Treasurer, Incorporator/Director or In-House Counsel of the main office and/or branches, if any, of GRANDTIME AUTOMOBILE INC. The Enforcement and Investor Protection Department is

Operating Departments of the Commission for their information and appropriate published in a national newspaper of general circulation and furnished to the other action. Let a copy of this Order be also posted in the Commission's website;

5 Motion for Issuance of Permanent CDO, par. 5. 6 Id., p. 2.

SEC CDO Case No. 10-15-027 In the matter of: Grandatime Automobile Inc. Page 3 of 3 K

from receipt of this Order. Commission is hereby FURTHER DIRECTED to submit a FORMAL COMPLIANCE REPORT, by way of a pleading, to the Commission En Banc WITHIN FIVE (5) DAYS The Enforcement and Investor Protection Department of the

SO ORDERED.

Mandaluyong City; 30 June 2016.

7t TERESITA J. HERBOSA Chairperson

ManueL Commissioner TO B.GAITE ANTONIETA F. IBE * Commissioner

24ww8 EPHYRO LUIS B. AMATONG Commissioner Commissioner ERBO

*On Leave