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005 – Companies with no operation but are covered under SRC Rule 68

Bulletin No.

Date

Subject Matter

Clarification/Details

005

Feb. 16, 2012

Companies with no operation but are covered under SRC Rule 68

If no operation only for one (1) year: a complete set of audited financial statements must be submitted by the company despite its non-operation

If no operation for the last two (2) years: The Income Statement need NOT be included in the audited financial statements