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Request for Lifting of Suspension and/or Revocation

Requirements for Filing Petitions to Set Aside the Order of Revocation or Suspension


Verified petition to set aside the Order of Revocation or Suspension which shall include the following certification:

“The company through its authorized representative hereby certifies that the latest financial statements that are submitted with this Petition are accurate, compliant with applicable financial reporting framework and are supported by sufficient and valid source documents and schedules. This sworn certification extends to all the beginning balances of the accounts from previous years during which the company failed to submit audited financial statements. In relation to this, attached in the Petition is a sworn certification from the company’s external auditor”


Director’s or Trustees Certificate;


Certificate of Non-Forum Shopping signed by the corporation’s duly authorized representative designated in the Director’s/Trustees’ Certificate (Sec. 3-4, Rule 3, Part III 2016 SEC Rules of Procedure;


Latest due Audited Financial Statements with SEC and BIR received;


Latest due General Information Sheet with SEC received;


Copies of Certificate of Incorporation and latest Certificate of filing of Amended Articles or By-laws (if any) together with latest Articles of Incorporation and By-laws;


Copy of registration of stock and transfer book or membership book;


Secretary’s Certificate stating the following:



That there is no no-intra corporate dispute filed or is pending before any Court, including third party whether administrative or criminal cases;



That the corporation’s latest due Audited Financial Statements and Income Tax Returns, were received by the Commission and Bureau of Internal Revenue, respectively.


Sworn Certification by the External Auditor (SEC Memorandum Circular No. 3 series of 2014), which shall state the following:

“I, _____________, the external auditor of _________________hereby certify that the beginning balances of the company’s financial statements as of ____________are based on valid and sufficient source documents and schedules of the company, and I have conducted adequate audit procedures to attest to the correctness and accuracy of the said balances.”


Proof of ongoing operation, any of the following but not limited to:



Audited Financial Statements;



Income Tax Returns;



Receipts showing payment of Real Estate Tax;



Certification/Recognitions/Annual Conventions; or
Any similar/related documents.


Latest Mayor’s/Business Permit;


BIR Certificate of Registration; and


Compliance with SEC Memorandum Circular No. 28 series of 2020

The corporation shall simultaneously undergo monitoring and will be required to pay the corresponding fines and filling fees before its petition will be received.

 With regard to covered corporations with pending intra-corporate dispute between two (2) or more groups claiming ownership or right over the same, their petition shall only be accepted upon the finality of a court decision, resolving the same intra corporate controversy as to which group has a valid right and claim over the corporation.

 In the broader interest of justice and in order to best serve public interest the Commission may, taking into consideration the relevant circumstances, exempt a corporation whose licensed has been revoked or suspended from these Guidelines and apply such suitable, fair and reasonable procedure to improve the delivery of public service and to assist the parties in obtaining a speedy and judicious disposition of cases.