Category Archives: Cooperatives

Rules on Principal Office Address of Corporations and Partnerships

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The Securities and Exchange Commission (SEC) has extended the compliance period — until 30 June 2015 (per Memorandum Circular No. 1, series of 2015) — for companies and partnerships to comply with the required designation of the principal office address. We believe that it’s helpful to disseminate the information to non-clients as well, so we are summarizing the requirements below, culled from SEC Memorandum Circular No. 6 (series of 2014; full text) and SEC Memorandum Circular No. 16 (series of 2014; full text).

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Principal Office Address of Corporations and Partnerships (SEC Memorandum Circular No. 16; full text)

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[See also SEC Rules on Principal Offic Address; and Memorandum Circular No. 6, series of 2014]

Republic of the Philippines
Department of Finance
Securities and Exchange Commission
SEC Building, EDSA, Greenhills, Mandaluyong City

MEMORANDUM CIRCULAR No. 16
Series of 2014.

TO : ALL CONCERNED

SUBJECT : PRINCIPAL OFFICE ADDRESS OF CORPORATIONS
AND PARTNERSHIPS

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Amendment of the Principal Office Address (SEC Memorandum Circular No. 6; full text)

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[See also Rules on Principal Office Address; and SEC Memorandum Circular No. 16, series of 2014]

Republic of the Philippines
Department of Finance
Securities and Exchange Commission
SEC Building, EDSA, Greenhills, Mandaluyong City

Company Registration and Monitoring Department

MEMORANDUM CIRCULAR No. 6
Series of 2014

TO : ALL CONCERNED

SUBJECT : AMENDMENT OF THE PRINCIPAL OFFICE ADDRESS

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The Small Business Corporation (SB Corporation)

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The Small Business Corporation (SB Corporation), also called the Small Business Guarantee and Finance Corporation, was created under Republic Act No. 6977, as amended (also known as the “Magna Carta for Micro, Small and Medium Enterprises (MSMEs)“. The SB Corporation is charged with the primary responsibility of implementing comprehensive policies and programs to assist MSMEs in all areas, including but not limited to finance and information services, training and marketing.

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Micro, Small and Medium Enterprise Development (MSMED) Council

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The Micro, Small and Medium Enterprise Development (MSMED) Council is tasked to effectively spur the growth and development of MSMEs throughout the country, and to carry out the policy declared in Republic Act No. 6977, as amended (also known as the “Magna Carta for Micro, Small and Medium Enterprises (MSMEs)“. The Council is attached to the Department of Trade and Industry (DTI).

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Introduction to the Philippine Cooperative Code of 2008

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The law which governs cooperatives, prior to the recent enactment of Republic Act No. 9520 (“Philippine Cooperative Code of 2008“), is Republic Act No. 6938 (“Cooperative Code of the Philippines”). Here’s a basic discussion on the new law (a more extensive primer will subsequently be released, initially made available to clients).

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Cooperatives in the Philippines: An Introduction

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[Refer to the updated Introduction to the Philippine Cooperative Code of 2008, taking into consideration the enactment of the new law, Republic Act No. 9520. See also How to Register a Cooperative] A cooperative is a duly registered association of persons with a common bond of interest, who have voluntarily joined together to achieve a lawful common social or economic end, making equitable to contribution to the capital required and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principle.

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