SEC Circular No. 3 dated 16 February 2006 - Principal Office Address; Address of Each Incorporator, Director, Trustee or Partner

CIRCULAR LETTER NO. CL-2008-078

To:  All Banks and Non-Bank Financial Institutions

Subject:  SEC Circular No. 3 dated 16 February 2006 - Principal Office Address; Address of Each Incorporator, Director, Trustee or Partner

Quoted hereunder is the SEC Circular No. 3 dated 16 February 2006 issued by the Securities and Exchange Commission in line with the “full disclosure” requirement of existing laws.

“In line with the ‘full disclosure’ requirement of existing laws, all corporations and partnerships applying for registration with the Securities and Exchange Commission should state in their Articles of Incorporation or Articles of Partnership the (i) specific address of their principal office, which shall include, if feasible, the street number, street name, barangay, city or municipality; and (ii) specific residence address of each incorporator, stockholder, director, trustee, partner.

‘Metro Manila’ shall no longer be allowed as address of the principal office.

Additionally, all corporations are required to state in their General Information Sheet the specific residence address of each stockholder, officer, director or trustee.

Filings that do not comply with the foregoing requirements shall be considered as non-compliant with existing rules and regulations.

This circular shall take effect after publication in a newspaper of general circulation.

Mandaluyong City, Philippines 16 February 2006.

(SGD) FE B. BARIN Chairperson”

For information and guidance.

NESTOR A. ESPENILLA, JR. Deputy Governor