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Opinions
Year 2024
- Opinion No. 24-20
Re: Financing Company Act of 1998, as amended; Financial Leasing - Opinion No. 24-19
Re: Wholly or Partly Nationalized Activity; Anti-Dummy Law - Opinion No. 24-18
Re: Anti-Dummy Law - Opinion No. 24-17
Re: Retail Trade Liberalization Act of 2000, as amended; Exception of Single Outlet Sales; Single Outlet Defined - Opinion No. 24-16
Re: Election of a Foreign Director - Opinion No. 24-15
Re: Corporate Restructuring of a Domestic Corporation; Rice and Corn Industry; and Property Swap - Opinion No. 24-14
Re: Inspection Rights of Shareholders - Opinion No. 24-13
Re: Financing Company Act of 1998, as amended; Financial Leasing - Opinion No. 24-12
Re: Voting by Remote Communication Based on a Board Resolution - Opinion No. 24-11
Re: Annual Meeting via Remote Communication and Voting in Absentia - Opinion No. 24-10
Re: Perpetual Term of Officers - Opinion No. 24-09
Re: Doing Business in the Philippines - Opinion No. 24-08
Re: Liquidation Beyond the Three (3) Year Winding Up Period - Opinion No. 24-07
Re: Section 22 of Republic Act (R.A.) No. 11232 or the Revised Corporation Code of the Philippines (RCCP) - Opinion No. 24-06
Re: Liquidation Beyond the 3-Year Winding Up Period - Opinion No. 24-05
Re: Amendment of Primary Purpose to Include Business Process Outsourcing (BPO) Services - Opinion No. 24-04
Re: Applicability of SRC Registration Requirements to Timeshares - Opinion No. 24-03
Re: Exempt Securities under Subsection 9.1(b) of the Securities Regulation Code - Opinion No. 24-02
Re: Composition of Board of Trustees of a Condominium Corporation - Opinion No. 24-01
Re: Foreign Ownership, Control and Administration of Educational Institutions; Applicability of the Foreign Investments Negative List to Educational Institutions
Year 2023
- Opinion No. 23-18
Re: Corporate Existence Beyond the Three-Year Period Provided Under Section 139 of the Revised Corporation Code of the Philippines - Opinion No. 23-17
Re: Perpetual Corporate Term - Opinion No. 23-16
Re: Eligibility of a Foreign Investor to be Elected as Chairman of the Board in a Party Nationalized Corporation - Opinion No. 23-15
Re: Merger of a Domestic Corporation with a Foreign Corporation Licensed to do Business in the Philippines - Opinion No. 23-14
Re: Prohibition on the Retention of Surplus Profits - Opinion No. 23-13
Re: Number of Directors; Quorum to Transact Corporate Business - Opinion No. 23-12
Re: Nationality of the President of a Non-Stock Non-Profit Corporation - Opinion No. 23-11
Re: Sale of Unissued Shares at a Premium; Pre-emptive Rights - Opinion No. 23-10
Re: Retail Trade Law; Exceptions - Opinion No. 23-09
Re: Eligibility of Logistics Company to be Converted into 100% Foreign-owned Corporation - Opinion No. 23-08
Re: Lending company activity - Opinion No. 23-07
Re: Secondary License - Opinion No. 23-06
Re: Liquidation beyond the three-year period - Opinion No. 23-05
Re: Allowable activities of a Representative Office - Opinion No. 23-04
Re: Remedies for lost stock and transfer book - Opinion No. 23-03
Re: Implications of RA 11659 on a freight forwarding company engaged in domestic operations - Opinion No. 23-02
Re: Retail Trade; Sale to Industrial and Commercial Users - Opinion No. 23-01
Re: Power, Citizenship, Residency and Educational Requirements of the Board of Trustees of an Educational Institution
Year 2022
- Opinion No. 22-17
Re: Conversion of Common/Preferred Shares into Redeemable Shares - Opinion No. 22-16
Re: Authority of the President of a Holding Company to Vote in a Subsidiary - Opinion No. 22-15
Re: Election of Representatives of Corporate Unit Owners as Trustees and Officers of Condominium Corporations - Opinion No. 22-14
Re: Legality of converting a non-stock, non-profit corporation to a stock corporation - Opinion No. 22-13
Re: Additional Paid In Capital - Opinion No. 22-12
Re: Issuance of Shares of Stocks at a Premium Without Increasing the Authorized Capital Stock - Opinion No. 22-11
Re: License to Transact Business - Opinion No. 22-10
RE: Real Estate Investment Trust (REIT) - Opinion No. 22-09
Re: Election of a Foreign Director and President in a Holding Company; Election of a foreigner as a director of a subsidiary engaged in power generation activities - Opinion No. 22-08
Re: License to Transact Business in the Philippines; Philippine Branch - Opinion No. 22-07
Re: Board of Directors or Trustees of a Corporation; Residency Requirement - Opinion No. 22-06
Re: Liquidation - Opinion No. 22-05
Re: Citizenship of a Trust; Grandfather Rule - Opinion No. 22-04
Re: Corporate Name; Trade Name - Opinion No. 22-03
Re: Preferred Shares; Rural Banks - Opinion No. 22-02
Re: Quorum; Board of Trustees - Opinion No. 22-01
Re: Redemption of Preferred Shares
Year 2021
- Opinion No. 21-11
Re: Primary and Secondary Purposes - Opinion No. 21-10
Re: Redemption and retirement of Preferred Shares; Reduction of Capital Stock - Opinion No. 21-09
Re: Annual Meeting via Remote Communication in Non-stock Corporations - Opinion No. 21-08
Re: Appointment of a Foreign Director in a Corporation Engaged in a Partly Nationalized Activity - Opinion No. 21-07
Re: Engaging in Mass Media and Advertising Activities thru the Offering of Space on Assets (Moving Structures) - Opinion No. 21-06
Retail Trade Law; Water Filtration Services - Opinion No. 21-05
Re: Increase of Authorized Capital Stock; Registration of Shares of Stock to be Issued Therefor - Opinion No. 21-04
Re: Quorum in By-Laws - Opinion No. 21-03
Re: Deed of Trust and Assignment over Share of Stock - Opinion No. 21-02
Re: Nationality Rules; Public Utility or Mass Media - Opinion No. 21-01
Re: Filling-up of Vacancies in the Board of Trustees
Year 2020
- Opinion No. 20-03
Re: Power to invest Corporate Funds for any other purpose; primary and secondary purpose - Opinion No. 20-02
Re:Corporate Term under the Corporation Code - Opinion No. 20-01
Re:Publicly Listed Company
Year 2019
- Opinion No. 19-61
Re:Retail Trade Law - Opinion No. 19-60
Re:Shares Previously under Escrow, Liquidation; Condonation of Corporate Rights - Opinion No. 19-59
Re:Foreign Participation in Travel and Tour Business and Retail Trade - Opinion No. 19-58
Re:Foreign Equity Ownership - Opinion No. 19-57
Re:Wholly or Partly Nationalized Activity; Anti-Dummy Law - Opinion No. 19-56
Re:Remote Communication in Stockholder’s Meeting; Waiver of Right to Vote - Opinion No. 19-59
Re: Foreign Participation in Travel and Tour Business and Retail Trade - Opinion No. 19-55
Re: International Freight Forwarding and NVOCC; Nationality Requirement - Opinion No. 19-54
Re: Pre-Need Products as Securities - Opinion No. 19-53
Re: Foreign Real Estate Holding Company; Ownership of Condominium Unit - Opinion No. 19-52
Re: Allowable Foreign Equity in Cargo and Freight Forwarding Activities - Opinion No. 19-51
Re: Classification of Corporations; Express powers; Right of first refusal; Procedure in transferring shares of stock; Qualifications of directors; and Probative Value of the stock and transfer book - Opinion No. 19-50
Re: Condonation of Subscriptions Receivables or Cancellation of Subscriptions - Opinion No. 19-49
Re: Condominium Corporation vis-a-vis Homeowner’s Association - Opinion No. 19-48
Re: Corporate Term of Educational Institutions - Opinion No. 19-47
Re: Corporate Term of Existing Corporations under the Revised Corporation Code - Opinion No. 19-46
Re: Retail Trade; Sale as Incident to a Corporation’s Primary Purpose - Opinion No. 19-45
Re: Lending Company Activity - Opinion No. 19-44
Re: Retail Trade; Event Organizer providing catering services - Opinion No. 19-43
Re: Non-holding of Annual Membership Meeting - Opinion No. 19-42
Re: Nationality Requirement for Transport Network Company - Opinion No. 19-41
Re: Retail Trade; Prosthetics - Opinion No. 19-40
Re: Paid-Up Capital; PSE Rules - Opinion No. 19-39
Re: Online Retail; Secondary Purpose - Opinion No. 19-38
Re: Corporate Term of Corporation Sole - Opinion No. 19-37
Re: Mustering the required quorum; representation of the dormant/inactive stockholders - Opinion No. 19-36
Re: Notice and Quorum in membership meetings - Opinion No. 19-35
Re: E-Commerce mode of Retail Trade - Opinion No. 19-34
Re: Rights of a corporation under liquidation - Opinion No. 19-33
Re: Term of License to do Business of a Foreign Corporation - Opinion No. 19-32
Re: Quorum in Members’ Meetings - Opinion No. 19-31
Re: Quorum in Meetings of a Non-Stock Condominium Corporation - Opinion No. 19-30
Re: Election of representatives of a corporate unit-owner in the Board of Trustees of a Condominium Corporation - Opinion No. 19-29
Re: Wholly or Partly Nationalized Activity; Anti-Dummy Law. - Opinion No. 19-28
Re: Corporate Term of Existing Corporations under the Revised Corporation Code. - Opinion No. 19-27
Re: Foreign Ownership Limit; Foreign Investment Act. - Opinion No. 19-26
Re: Right to Lease of a Non-Stock, Non-Profit Condominium Corporation. - Opinion No. 19-25
Re: Quorum in Meetings of a Condominium Corporation. - Opinion No. 19-24
Re: Foreign ownership requirement of partly nationalized activity. - Opinion No. 19-23
Re: SEC Approval of Issuance of Cash and Stock Dividends. - Opinion No. 19-22
Re: Secondary purpose. - Opinion No. 19-21
Re: Application of the Retail Trade Liberalization Act to Clark Freeport Zone. - Opinion No. 19-20
Re: Redemption of Preferred Shares; Subscribed Capital Stock. - Opinion No. 19-19
Re: Section 23.2 of the Securities and Regulation Code. - Opinion No. 19-18
Re: Term of Existence of Condominium Corporations. - Opinion No. 19-17
Re: Board of Trustees. - Opinion No. 19-16
Re: Corporate Terms of Existing Corporations under the Revised Corporation Code. - Opinion No. 19-15
Re: Pre-emptive right. - Opinion No. 19-14
Re: Creation of APIC using value of an aircraft; Non-Scheduled Domestic Air Transport as Nationalized Business Activity. - Opinion No. 19-13
Re: Securities to be deposited by a Philippine Branch. - Opinion No. 19-12
Re: Hold-over Principle as applied to Condominium Corporations. - Opinion No. 19-11
Re: Corporate Term of Educational Institution Registered under the Corporation Law. - Opinion No. 19-10
Re: Foreigner in a partially-nationalized corporation and the Anti-Dummy Law. - Opinion No. 19-09
Re: Assignment of Shares of Stock between Husband and Wife. - Opinion No. 19-08
Re: Effective Date of Merger. - Opinion No. 19-07
Re: Citizenship and Composition of the Incorporators, Directors and Officers of a Corporation Engaged in the Practice of Architecture. - Opinion No. 19-06
Re: Remote Monitoring Company, Nationality Requirement. - Opinion No. 19-05
Re: Declaration of Cash Dividends. - Opinion No. 19-04
Re: General Financing Activities. - Opinion No. 19-03
Re: Computation of Retained Earnings Available for Dividend Declaration. - Opinion No. 19-02
Re: Definition of Foreign Nationals under RA10881. - Opinion No. 19-01
Re: Assignment of All or Substantially All of the Assets of a Corporation.
Year 2018
- Opinion No. 18-23
Re: Applicability of Anti-Dummy Law. - Opinion No. 18-22
Re: Post-Production Facility; Mass Media. - Opinion No. 18-21
Re: Mass Media, Digital Platform. - Opinion No. 18-20
Re: Application of the Control Test to Retail Companies pursuant to the Retail Trade Liberalization Act. - Opinion No. 18-19
Re: Annual Stockholders’Meeting and Election of Officers. - Opinion No. 18-18
Re: Merger of a Domestic Corporation with a Foreign Corporation Licensed To Do Business in the Philippines. - Opinion No. 18-17
Re: Applicability of SEC Memorandum Circular No. 08-13 to Investment Houses. - Opinion No. 18-16
Re: Applicability of Anti-Dummy Law on Party-Nationalized Activity. - Opinion No. 18-15
Re: Cold Storage, Cold Logistics and Distribution as Public Utility. - Opinion No. 18-14
Re: Retail Trade - Opinion No. 18-13
Re: Effectivity of Memorandum Circular No. 16, Series of 2002; Chairman as Independent Director. - Opinion No. 18-12
Re: Corporate Term of Religious Corporations. - Opinion No. 18-11
Re: Effect of Merger On An Existing License as ROHQ. - Opinion No. 18-10
Re: Retail Trade. - Opinion No. 18-09
Re: Legal Capacity of a Dissolved Corporation in Corporate Liquidation. - Opinion No. 18-08
Re: Delegation of the power to amend or repeal by-laws. - Opinion No. 18-07
Re: Qualifications of Members of the Board of Directors/Trustees. - Opinion No. 18-06
Re: Applicability of Retail Trade Liberalization Act. - Opinion No. 18-05
Re: Membership in a Condominium Corporation. - Opinion No. 18-04
Re: Foreign Equity Ownership; Travel and Tours. - Opinion No. 18-03
Re: Conversion of Stockholder’s Loan to APIC to Wipe Out Deficit. - Opinion No. 18-02
Re: Manner of Voting; Nature and Amendment of By-Laws. - Opinion No. 18-01
Re: Corporate Term of Educational Institutions Registered under the Corporation Law.
Year 2017
- Opinion No. 17-16
Re: Exemption from Retail Trade Liberalization Act, Foreign Investments Act and Anti-Dummy Law. - Opinion No. 17-15
Re: Compensation of Trustees; Acquisition of Land by a Non-Stock, Non-Profit Religious Corporation. - Opinion No. 17-14
Re: International Freight Forwarding Applicability of Anti-Dummy Law. - Opinion No. 17-13
Re: Applicability of Section 43 of the Corporation Code to Joint Venture Partnership. - Opinion No. 17-12
Re: Clarification on SEC-OGC Opinion. - Opinion No. 17-11
Re: Retail Trade; Ticketing Activity. - Opinion No. 17-10
Re: Condominium Corporation: Membership; Proxy Rules; Compensation of Directors and Officers; Hold-Over Capacity; Corporate Term. - Opinion No. 17-09
Re: Corporate Term of Condominium Corporation. - Opinion No. 17-08
Re: Revocation and Re-Registration of a Corporation. - Opinion No. 17-07
Re: Foreign Equity Limitation. - Opinion No. 17-06
Re: Equity restructuring through the increase of par value. - Opinion No. 17-05
Re: Ownership, Control, and Administration of an Online English School and Diving School. - Opinion No. 17-04
Re: Foreign Equity Restriction in Ground Handling Services. - Opinion No. 17-03
Re: Foreign Corporation; Doing business; Online Gaming.
Year 2016
- Opinion No. 16-29
Re: Election of Foreign Stockholder as President of a Renewable Energy Company. - Opinion No. 16-28
Re: Applicability of Anti-Dummy Law to Business Process Outsourcing. - Opinion No. 16-27
Re: Corporate Term of the Corporations Registered Under the Corporation Law. - Opinion No. 16-26
Re: Arrangement between bank and depositor-investor for investment and payment of securities. - Opinion No. 16-25
Re: Retail Trade. - Opinion No. 16-24
Re: Corporate Term of Educational Institutions registered under The Corporation Law. - Opinion No. 16-23
Re: Rights of a stockholder in a dissolved corporation. - Opinion No. 16-22
Re: Power of Corporations to Enter into a Partnership or Joint Venture. - Opinion No. 16-21
Re: Entities engaged in mass media and advertising. - Opinion No. 16-20
Re: Allowed activities of a Representative Office. - Opinion No. 16-19
Re: Application of Control Test to Manning Companies - Opinion No. 16-18
Re: Ownership, Control, and Administration of an Online English School. - Opinion No. 16-17
Re: Business of Leasing or Sub-leasing Advertising Spaces; Mass Media. - Opinion No. 16-16
Re: Minimum Stock Subscription and Treasury Shares. - Opinion No. 16-15
Re: Nationality of Non-Stock Corporation; Acquisition of Land by a Non-Stock Corporation. - Opinion No. 16-14
Re: Foreign Participation in a Real Estate Brokerage Company - Opinion No. 16-13
Re: Partially-Nationalized Industries and the Anti Dummy Law - Opinion No. 16-12
Re: Nationality Requirement for Non-Stock Non-Profit Corporations - Opinion No. 16-11
Re: Voting in Non-Stock Corporations - Opinion No. 16-10
Re: Retail Trade of Pest Control Chemicals, Machines, Equipment and Accessories - Opinion No. 16-09
Re: Issuance of Certificates of Stock Sold in Deliquency Sale - Opinion No. 16-08
Re: International Sea Freight Forwarding/Sub-contracting - Opinion No. 16-07
Re: Quorum; Majority - Opinion No. 16-06
Re: Retail Trade; Restaurant and Gift Shop owned by Hotel - Opinion No. 16-05
Re: Indivisibility of subscription contract; Payment of Balance of Unpaid Subscriptions; Delinquent Shares; Delinquency Sale. - Opinion No. 16-04
Re: Registration of a Corporation to Engage in the Practice of Interior Design; Qualification of Board of Directors. - Opinion No. 16-03
Re: Retail Trade Law; Exeptions - Opinion No. 16-02
Re: Anti-Dummy Law - Opinion No. 16-01
Re: Teleconferencing for Stockholder’s Meeting
Year 2015
- Opinion No. 15-15
Re: Holding Companies Deemed Domestic Market Enterprises; Subject to FINL - Opinion No. 15-14
Re: Foreign Equity Limitations on Ground Handling Services - Opinion No. 15-13
Re: Amendment of By_laws adding three (3) additional Corporate Officers designated as Presidents - Opinion No. 15-12
Re: Non-Stock Savings and Loan Association; Limitations as to the Compensation of Trustees - Opinion No. 15-11
Re: Winding-Up Period; Trustees in Liquidation - Sun Life Asset and Management Company
Re: Issuance of Securities of a Mutual Fund Company apart from its Authorized Capital Stock - Opinion No. 15-10
Re: Retail Trade - Opinion No. 15-09
Re: Liquidation of Non-Stock Corporation - Opinion No. 15-08
Re: Political Contributions by Corporations - Opinion No. 15-07
Re: Corporate Liquidation - Opinion No. 15-06
Re: Investment by a Representative Office in Stocks of a Domestic Company - Opinion No. 15-05
Re: Voting Rights of Members in a Non-Stock Corporations - Opinion No. 15-04
Re: Broker/Dealer in Proprietary Shares; Mutual Fund Distributor - Opinion No. 15-03
Re: Alternative References of Stock Ownership Other Than the STB - Opinion No. 15-02
Re: Conduct of Stockholders’ Meeting in Metro Manila - Opinion No. 15-01
Re: Whether real estate is considered “income-generating real estate” under the Real Estate Investment Trust Act of 2009 - Sun Life Asset and Management Company
Re: Issuance of Securities of a Mutual Fund Company apart from its Authorized Capital Stock
Year 2014
- Opinion No. 14-36
RE: Minimum number of Independent Directors; Articles of Incorporation - Opinion No. 14-35
RE: Remittance of Donations of a Domestic Corporation to that of a Foreign Foundation - Opinion No. 14-34
RE: Retail Trade Law; Republic Act No. 8762 - Opinion No. 14-33
RE: Forced Acquisition of Foreign-Held Shares of Stocks in an Educational Institution - Opinion No. 14-32
RE: Foreign Ownership restrictions - Opinion No. 14-31
RE: Transfers under the Special Purpose Vehicle Act - Opinion No. 14-30
RE: Certificates of Eligibility in relation to Special Purpose Vehicle Act - Opinion No. 14-29
RE: Title to Real Properties; Liquidation - Opinion No. 14-28
RE: SEC- OGC Opinion No. 10-21; Interest in Co-Ownership as Consideration for Shares of Stocks - Opinion No. 14-27
RE: Foreign Equity Limitations on Corporations Engaged in Private Construction Contracts - Opinion No. 14-26
RE: Tour Operators as Export Market Enterprises under the Foreign Investment Act - Opinion No. 14-25
RE: Non-Stock Corporations; Quorum and Voting; Voting Rights - Opinion No. 14-24
RE: Department Secretaries/Agency Heads and their Representatives as Directors in a SEC-Registered GOCC - Opinion No. 14-23
RE: Closed Corporations; Powers of the President; Right of Inspection - Opinion No. 14-22
RE: Revoked Corporations; who may be liquidators - Opinion No. 14-21
RE: Foreign Corporation; Doing Business - Opinion No. 14-20
RE: Anti-Dummy Law; Foreign Directors in an Educational Institution - Opinion No. 14-19
RE: Anti-Dummy Law in Condominium Corporations - Opinion No. 14-18
RE: Perpetual Corporate Term of Existence - Opinion No. 14-17
RE: Certificate of Ownership of Columbay Vaults - Opinion No. 14-16
RE: SEC-OGC Opinion No. 08-11 on Power of Corporations to enter into Guaranty and Suretyship Agreements - Opinion No. 14-15
RE: Foreign Equity Limitation - Opinion No. 14-14
RE: Public Offering - Opinion No. 14-13
RE: Reversal of APIC and Reinvestment as Capital or as Loan - Opinion No. 14-12
RE: Retail Trade - Opinion No. 14-11
RE: Domestic market enterprises; mass media - Opinion No. 14-10
RE: Cumulative Voting in Condominium Corporation - Opinion No. 14-09
RE: Election of Trustees; Less than the number of seats - Opinion No. 14-08
RE: Retail Trade, R.A. 8762 - Opinion No. 14-07
RE: Filling-up of Vacancies on the Board of Trustees - Opinion No. 14-06
RE: Marketing and Sale of Digital Publication Through the Internet and Mobile Technology; Advertising; Mass Media - Opinion No. 14-05
RE: Foreign Directors and Officers in a land-owning corporation - Opinion No. 14-04
RE: Qualification/Disqualification of Board of Directors; Conflict of Interest - Opinion No. 14-03
RE: Minimum public ownership of REIT; trustee of a pre-need trust fund - Opinion No. 14-02
RE: Trustee in Liquidation - Opinion No. 14-01
RE: Doing Business; Foreign Corporation Investing in a Consortium
Year 2013
- Opinion No. 13-13
Re:Proprietary Shares; Vested Rights Registration Securities - Opinion No. 13-12
Re:Application of Control Test to Manning Companies - Opinion No. 13-11
Re:Quorum; Election of Directors - Opinion No. 13-10
Re:Notice of Stockholders/Directors/Members Meeting Thru E-mail - Opinion No. 13-09
Re:Whether stockholders of a previously dissolved corporation whose shares are held in trust by another in a new corporation may be considered as individual subscribers of the latter corporation - Opinion No. 13-08
Re:Effects of Lifting the Order of Revocation - Opinion No. 13-07
Re:Retail Trade - Opinion No. 13-06
Re:Filling-up of Vacancies in the Board of Trustees; Lack of Quorum - Opinion No. 13-05
Re:Corporate Term of Educational Corporations registered under Corporation Law - Opinion No. 13-04
Re:Limit on Shareholdings of Independent Directors - Opinion No. 13-03
Re:Previously incurred indebtedness as payment for subscription of shares by way of pre-emptive rights - Opinion No. 13-02
Re:Capacity to sue or be sued by a Foreign Corporation - Opinion No. 13-01
Re:Corporate Term of Educational Corporations registered under Corporation Law
Year 2012
- Opinion No. 12-19
RE : Rules on Issuer Tender Offer/Buyback - Opinion No. 12-18
RE : Quorum and Voting Rights in a Condominium Corporation - pinion No. 12-17
RE : Registration under the Foreign Investments Act of 1991 - Opinion No. 12-16
RE : Marketing and Sale of Discount Coupons - Opinion No. 12-15
RE : Effect of Merger on the Condominium Certificate Title - Opinion No. 12-14
RE : Merger of Two Foreign Corporations - Opinion No. 12-13
RE : Citizenship of a Trust; Citizenship Requirement in Airline Company - Opinion No. 12-12
RE : Query on Transfer of Principal Office Address - Opinion No. 12-11
RE : Foreign owned corporation; Real property - Opinion No. 12-10
RE : Independent Directors; SRC Rule 38(2) - Opinion No. 12-09
RE : Non-Stock Savings and Loan Associations; Unclaimed Capital Contributions - Opinion No. 12-08
RE : Query on Validity of By-Laws - Opinion No. 12-07
RE : Foreign Corporation; Scope of license - Opinion No. 12-06
RE : Treasury Shares - Opinion No. 12-05
RE : Election of Directors by Region; Amendment of By-Laws - Opinion No. 12-04
RE : Re-domestication of a Foreign Corporation - Opinion No. 12-03
RE : Foreign ownership restriction - Opinion No. 12-02
RE : Allowable Foreign Participation in a Corporation and in the Board of Directors; Place of Incorporation Test; Control Test and Grandfather Rule - Opinion No. 12-01
RE : Delivery versus Payment (DVP) – Banco De Oro - SEC-MRD Opinion No. 01
RE : Foreign president is a real estate development corporation
Year 2011
- Opinion No. 11-49
RE : Sale of Securities; Investment Contract - Opinion No. 11-48
RE : Re-election of the Members of the Board of Directors - Opinion No. 11-47
RE : Foreign donation to domestic foundation - Opinion No. 11-46
RE : Authority to Engage in Mining Activities - Opinion No. 11-45
RE : Rights of stockholder - Opinion No. 11-44
RE : Nationality Restriction; Control Test and Grandfather Rule; Composition of the Board - Opinion No. 11-43
RE : Criminal liability of Directors - Opinion No. 11-42
RE : Determination of Nationality of a Corporation - Opinion No. 11-41
RE : Availability of Pre-emptive Rights; Ownership Restrictions in the PSE - Opinion No. 11-40
RE : Licensing of foreign corporation; Doing business; Purchase of condominium units - Opinion No. 11-39
RE : Trade name; Corporate name - Opinion No. 11-38
RE : Revoked corporations - Opinion No. 11-37
RE : Foreign equity/foreign president in mining corporation - Opinion No. 11-36
RE : Condominium Corporation - Opinion No. 11-35
RE : Membership in Condominium Corporation; Merger - Opinion No. 11-34
RE : Retail trade; Incidental to primary purpose - Opinion No. 11-33
RE : Primary purpose; secondary purpose - Opinion No. 11-32
RE : Operating Lease; R.A. No. 8556 - Opinion No. 11-31
RE : Queries on Quorum, Special Election & Financial Assistance - Opinion No. 11-30
RE : Dissolution & Liquidation - Opinion No. 11-29
RE : Rights of stockholder; Inspection of corporate records - Opinion No. 11-28
RE : Registration of increase of authorized capital stock by a “non-Philippine national” corporation - Opinion No. 11-27
RE : Restriction on Ownership by Foreigners of Equity in Domestic Market Enterprises - Opinion No. 11-26
RE : Section 42 of the Corporation Code; Control Test and Grandfather Rule; Disclosures - Opinion No. 11-25
RE : Foreign Ownership Restriction - Opinion No. 11-24
RE : Assignment of real property as consideration for stock subscription - Opinion No. 11-23
RE : Quorum - Opinion No. 11-22
RE : Condominium corporation - Opinion No. 11-20
RE : Exemption from the Filing of GIS - Opinion No. 11-19
RE : Procedure for Election of Directors - Opinion No. 11-18
RE : Corporate Investments - Opinion No. 11-17
RE : Limitation on Ownership of Shares of Stock - Opinion No. 11-16
RE : Stock and Transfer Book; Executive Committee - Opinion No. 11-15
RE : Applicability of Foreign Ownership Restriction; Holding Companies - Opinion No. 11-14
RE : Definition of ‘Gross Income’ under Sec. 126 of the Corporation Code - Opinion No. 11-13
RE : Corporate Term; Corporate Name - Opinion No. 11-12
RE : Non-stock Corporations; Purposes/Business Activities - Opinion No. 11-11
RE : Income-generating activities of Non-Stock Corporations - Opinion No. 11-10
RE : Titles of corporate officers; Board meetings through the internet; Requirement of member signature in membership book - Opinion No. 11-09
RE : Sale of stock in excess of authorized capital stock - Opinion No. 11-08
RE : Mass Media; Nationalized Activities; Alien Director - Opinion No. 11-07
RE : Requirement of Capital Subscription for Non-stock Corporations - Opinion No. 11-06
RE : Licensing of foreign corporation; Doing Business - Opinion No. 11-05
RE : Assignment of Rights Over Condotel Units - Opinion No. 11-04
RE : Corporate term; Corporations existing prior to Corporation Code; Religious corporations - Opinion No. 11-03
RE : Decrease of authorized capital stock; Foreign Investments Act - Opinion No. 11-02
RE : Proxy ballots; Required vote to confirm acts of the board - Opinion No. 11-01
RE : Public Access to Reports filed with the SEC; Registration Name - SEC-MRD Opinion No. 02
RE : Delivery versus Payment (DVP) – HSBC - SEC-MRD Opinion No. 01
RE : Delivery versus Payment (DVP) – JP Morgan Chase Bank NA
Year 2010
- Opinion No. 10-35
RE : Customs Brokerage service - Opinion No. 10-34
RE : Creation of Additional Paid in Capital - Opinion No. 10-33
RE : Securities; Exemption From Section 8 of the Securities Regulation Code - Opinion No. 10-32
RE : Used of Registered Business or Trade Name in Business Documents - Opinion No. 10-31
RE : Foreign ownership in a local mining corporation - Opinion No. 10-30
RE : Foreign Ownership Limitations on International Freight Forwarders - Opinion No. 10-29
RE : Transacting with a corporation whose charter has been revoked - Opinion No. 10-28
RE : Loan Collateral Build-up in a Lending Company; Deposit Substitute - Opinion No. 10-27
RE : Notice of Meetings, Delinquent Stockholders - Opinion No. 10-26
RE : Lending Company - Opinion No. 10-25
RE : Directors with Dual Citizenship; Qualifications of Directors and Corporate Officers - Opinion No. 10-24
RE : Acquisition of Own Shares of Stock - Opinion No. 10-23
RE : Ownership Structure of a Land-Owning Corporation - Opinion No. 10-22
RE : Setting up of Servers in the Philippines by a Foreign Corporation - Opinion No. 10-21
RE : Interest in Co-ownership as Consideration for Shares of Stock - Opinion No. 10-20
RE : Acquisition of Land by a Corporation; Dividend Distribution Mechanism; Director’s Fees - Opinion No. 10-19
RE : Scope of Globe Telecom, Inc.’s authorized retail activity - Opinion No. 10-18
RE : Capital Restructuring - Opinion No. 10-17
RE : Qualification of a Corporate Secretary; Revised Code of Corporate Governance - Opinion No. 10-16
RE : Service of Summons through the Commission - Opinion No. 10-15
RE : Delinquent Stocks, Delinquency Sale, Effect of Delinquency - Opinion No. 10-14
RE : Acquisition of Own Shares of Stock - Opinion No. 10-13
RE : Doing Business; Jewelry Auction not a retail trade business - Opinion No. 10-12
RE : Non-stock corporation; Voting by mail - Opinion No. 10-10
RE : Liquidation - Opinion No. 10-09
RE : Foreigners as Corporate Directors - Opinion No. 10-08
RE : Foreign Equity in Ship Management and Ship Manning Corporations - Opinion No. 10-07
RE : Effect of Revocation of License to Transact Business in the Philippines - Opinion No. 10-06
RE : Liquidation - Opinion No. 10-05
RE : Business Processing and Collection Center as Financing Company - Opinion No. 10-04
RE : Investment of corporate funds in corporate notes - Opinion No. 10-03
RE : Assignment of Leasehold Rights - Opinion No. 10-02
RE : Close holding corporation; Founder’s shares - Opinion No. 10-01
RE : Allowed activities for a foreign bank’s representative office in the Philippines - SEC-MRD Opinion No. 01
RE : Delivery versus Payment (DVP) – Australia and New Zealand Banking Group Ltd.
Year 2009
- Opinion No. 09-33
RE : Activities that a foreign-owned corporation may engage in - Opinion No. 09-32
RE : Increase in Foreign Equity in a Domestic Corporation engaged in online casino - Opinion No. 09-31
RE : Corporate Liquidation - Opinion No. 09-30
RE : Exemption of 100% foreign owned holding company from minimum paid-up capital requirement - Opinion No. 09-29
RE : Powers of a Corporation - Opinion No. 09-28
RE : Lending Company Regulation; Foreign equity threshold - Opinion No. 09-27
RE : Proxy: Non-eligibility for Election to the Board - Opinion No. 09-26
RE : Increase of Capital Stock and Consideration for Stock - Opinion No. 09-25
RE : Special Purpose Vehicle Act : Consideration for True Sale - Opinion No. 09-24
RE : Mass revocation orders; Powers of a Revoked Corporation - Opinion No. 09-23
RE : Foreign Equity Participation in Construction Business - Opinion No. 09-22
RE : Retail trade; R.A. No. 8762 - Opinion No. 09-21
RE : Redemption of Preferred Shares; Treasury shares - Opinion No. 09-20
RE : Corporate Powers: Ultra Vires Acts - Opinion No. 09-19
RE : Rights of a corporation under liquidation - Opinion No. 09-18
RE : Foreign Corporation: Doing Business - Opinion No. 09-17
RE : Application of Anti-Dummy Law to a Condominium Corporation - Opinion No. 09-16
RE : Secondary License - Opinion No. 09-15
RE : Nationality Requirement on Rice and/or Corn Industry - Opinion No. 09-14
RE : Freight Forwarding and Anti-Dummy Law - Opinion No. 09-13
RE : Effective Date of Merger - Opinion No. 09-12
RE : Concept of “doing business” - Opinion No. 09-11
RE : Power of a Corporation to Purchase Its Own Shares - Opinion No. 09-10
RE : Reclassification of Shares; Required Equity under the Financing Company Act - Opinion No. 09-09
RE : Control Test: Alien Acquisition of Land - Opinion No. 09-08
RE : Ownership, Control, Administration and Student Population of Educational Corporations - Opinion No. 09-07
RE : Foreign Corporation : Doing Business - Opinion No. 09-06
RE : Eligibility and Removal of Directors/Trustees - Opinion No. 09-05
RE : Regular meeting of board of directors - Opinion No. 09-04
RE : Registration of Securities - Opinion No. 09-03
RE : Anti-Dummy Law: Foreign Manager/Director - Opinion No. 09-02
RE : Composition of the Board of Directors Under the Anti-Dummy Law - Opinion No. 09-01-A
RE : Citizenship Requirement to participate in Private Recruitment - Opinion No. 09-01
RE : Allowable Investments of Trustee and Foreign Investments in Preferred Non-Voting Shares - SEC-MRD Opinion No. 06
RE : Delivery versus Payment (DVP) – Standard Chartered Bank - SEC-MRD Opinion No. 05
RE : Delivery versus Payment (DVP) – ING Bank NV - SEC-MRD Opinion No. 04
RE : Delivery versus Payment (DVP) – Metropolitan Bank & Trust Company
Year 2008
- Opinion No. 08-28
RE : Effect of acquisition of juridical personality by the component societies separate from the national organization - Opinion No. 08-27
RE : Foreign equity in Condominium Corporation - Opinion No. 08-26
RE : Merger of a Corporation Sole With a Non-Stock, Non-Profit Charitable Institution - Opinion No. 08-25
RE : Corporate Officers Not Considered Employees - Opinion No. 08-24
RE : Advertising : Interpretation of Purpose Clause - Opinion No. 08-23
RE : Foreign equity in partly Nationalized industry (60-40% Rule) - Opinion No. 08-22
RE : Prospective application of R. A. No. 9474 - Opinion No. 08-21
RE : Nationality Requirement for Domestic and International Air Commerce - Opinion No. 08-20
RE : Foreign Bank Branch Office as Trustee of an Employee Retirement Fund: Limitation on Real Estate Investment - Opinion No. 08-19
RE : Foreign investment in manufacturing and wholesale of coffee beans - Opinion No. 08-18
RE : By-Laws: Exemption from Dues and Assessment - Opinion No. 08-17
RE : Effect of re-registration of a revoked corporation - Opinion No. 08-16
RE : Unknown Stockholders; Acquisition of Shares - Opinion No. 08-15
RE : Term of Existence of Religious Society - Opinion No. 08-14
RE : Nationality requirement; financing companies - Opinion No. 08-13
RE : Financing Act : 25% limit on real estate acquisition - Opinion No. 08-12
RE : Required Number of Votes in Amendments - Opinion No. 08-11
RE : Power of the Board to Enter in Suretyship Agreements and to Issue Corporate Guarantee - Opinion No. 08-10
RE : Dividends - Opinion No. 08-09
RE : Proxy Requirements - Opinion No. 08-08
RE : Transfer of Shares; Waiver of Pre-emptive Right; Election of Board of Directors - Opinion No. 08-07
RE : “Collection of Association Dues of Condominium Corporations” - Opinion No. 08-06
RE : Application of the Retail Trade Liberalization Act to a PEZA-Registered Enterprise, and Other Matters - Opinion No. 08-05
RE : Real estate ownership by foreigners - Opinion No. 08-04
RE : Decrease of Capital Stock, Return of Capital - Opinion No. 08-03
RE : Philippine Holding Company : Philippine Landholding Company - Opinion No. 08-02
RE : Intangible Property as Consideration for Subscription of Shares - Opinion No. 08-01
RE : Dissolution and Piercing Doctrine - SEC-MRD Opinion No. 03
RE : Delivery versus Payment (DVP) – Deutsche Bank AG - SEC-MRD Opinion No. 02
RE : Delivery versus Payment (DVP) – HSBC - SEC-MRD Opinion No. 01
RE : Delivery versus Payment (DVP)
Year 2007
- Opinion No. 07-23
RE : Non-use of charter; continuous inoperation of a corporation - Opinion No. 07-22
RE : Application of the Grand-father Rule to determine nationality of a corporation organized to engaged in real estate business - Opinion No. 07-21
RE : Control Test Rule - Opinion No. 07-20
RE : Nationality requirement of public utility concessionaire - Opinion No. 07-18
RE : Consortium of San Miguel Energy - Opinion No. 07-17
RE : Control Test Rule - Opinion No. 07-16
RE : Requirement for Proxy - Opinion No. 07-15
RE : Reportorial Requirements - Opinion No. 07-14
RE : Manufacturing is not incidental to the business of selling - Opinion No. 07-13
RE : Interpretation of Section 5 of the Revised Guidelines on Foundations - Opinion No. 07-12
RE : Powers of Corporate Officers; Dissolution of corporation - Opinion No. 07-11
RE : Independent Directors - Opinion No. 07-10
RE : Creation of subsidiary corporation - Opinion No. 07-08
RE : Hold-Over Term of Directors - Opinion No. 07-07
RE : Non-Filipino Nationals as Officers; Members of non-stock corporations - Opinion No. 07-06
RE : Transfer of Shares; Documentary Requirements - Opinion No. 07-05
RE : “Philippine National” - Opinion No. 07-04
RE : Reportorial Requirements - Opinion No. 07-03
RE : Sinking fund for preferred shares with mandatory redemption features - Opinion No. 07-02
RE : Dissolution and Winding Up - Opinion No. 07-01
RE : Frequency of Regular Meetings of Board of Directors; Date of Annual Meeting
Year 2006
- Opinion No. 06-37
RE : Quorum consisting of less than majority - Opinion No. 06-36
RE : Corporate Nationality under the FIA; Reclassification of Shares of Stock; Required Equity under the Financing Company Act - Opinion No. 06-35
RE : Preferred shares; Rate of dividends; Redemption - Opinion No. 06-34
RE : Limited Practice of Profession of Foreign National - Opinion No. 06-33
RE : Expiration of Term : Ownership of a Real Property - Opinion No. 06-32
RE : Sales of industrial or commercial users or consumers not considered “retail trade” - Opinion No. 06-31
RE : Term of office of the Board of Trustees - Opinion No. 06-30
RE : Remittance Companies & the Foreign Investment Act - Opinion No. 06-29
RE : Non-stock Corporations; Use of Profits Derived by Non-stock Corporations. Special Corporations; Non-stock Educational Corporations; Required Number of Members of the Board of Trustees of Non-stock Educational Corporation - Opinion No. 06-28
RE : Voting Rights of Heirs of deceased stockholder - Opinion No. 06-27
RE : Stockholders’ Right to Financial Statement - Opinion No. 06-26
RE : Corporations created by special charter - Opinion No. 06-25
RE : SRC Rule 19 : Tender offer - Opinion No. 06-24
RE : Principal Office Address; SEC Memo Circular No. 3, series 2006 - Opinion No. 06-23
RE : “Election of the Board of Trustees” - Opinion No. 06-22
RE : Foundations are not allowed to issue securities including pre-need plans - Opinion No. 06-21
RE : Refusal to Issue Certificates of Stock; Remedies of a Successful Bidder in an Auction Sale of Shares of Stock - Opinion No. 06-20
RE : Dissolution of subsidiaries - Opinion No. 06-19
RE : Validity of provision restricting transferability of shares in close corporations - Opinion No. 06-18
RE : “Hold-over principle” - Opinion No. 06-17
RE : Conflict of interest - Opinion No. 06-16
RE : Proxy rules governing condominium corporation - Opinion No. 06-15
RE : Credit Card Receivables may be classified as “Assets” under the Securitization Act of 2004 (R.A. 9267) - Opinion No. 06-14
RE : Public Companies under SEC Memorandum Circular No. 13, series of 2003, as amended - Opinion No. 06-13
RE : Issuance of Stock Certificates for Partially Paid Subscriptions - Opinion No. 06-12
RE : Assignment to the Board of Directors of the voting rights of delinquent members of a condominium corp. - Opinion No. 06-10
RE : Unit Trust Fund as Securities - Opinion No. 06-09
RE : Requisites for Directors’/Stockholders’ Meeting - Opinion No. 06-08
RE : PSE query on classification of broker corporations/firms - Opinion No. 06-07
RE : Retail Trade : Qualification to Engage in Retail Trade - Opinion No. 06-06
RE : Sale of shares of stock of a revoked corporation - Opinion No. 06-05
RE : Amendment of a rural bank’s articles to reflect conversion of shares from preferred to common - Opinion No. 06-04
RE : Effective Date of Merger - Opinion No. 06-03
RE : Dissolution : Reckoning of Liquidation period - Opinion No. 06-02
RE : Delegation of the power to amend or repeal by-laws or adopt new by-laws - Opinion No. 06-01
RE : Dissolution and Lifting Order of Revocation; Expiration of term
Year 2005
- Opinion No. 05-23
RE : Dividends due to a dissolved corporate stockholder - Opinion No. 05-22
RE : Restrictions on Transferability of Shares - Opinion No. 05-21
RE : Exemption from Penalties - Opinion No. 05-20
RE : Officers of ROHQ - Opinion No. 05-19
RE : Hold-over and other matters - Opinion No. 05-18
RE : Foreign Corporations to engage in the business of Operating dormitories, boarding house and hotels - Opinion No. 05-17
RE : Voting requirement in Condominium Corporation - Opinion No. 05-16
RE : Voting Requirement in Condominium Corporation - Opinion No. 05-15
RE : Concurrence of Positions of Corporate Officers - Opinion No. 05-14
RE : Non-stock Corporation : Quorum in Meetings - Opinion No. 05-13
RE : Non-holding of annual meeting - Opinion No. 05-12
RE : Voting by Proxy in a Non-stock Corporation - Opinion No. 05-11
RE : Receivables as consideration for shares of stock - Opinion No. 05-10
RE : Reduction of Paid-In Equity of a Foreign Branch - Opinion No. 05-09
RE : Corporate Nationality under the Special Purpose Vehicle Act; Acquisition of Non-Performing Assets - Opinion No. 05-08
RE : Sale incidental to a company’s service is not considered “retail sale” - Opinion No. 05-07
RE : Effectivity of Amendment or Adoption of New By-laws - Opinion No. 05-06
RE : Election of a Representative of a corporate member in the Board of Trustees of a Condominium Corporation - Opinion No. 05-05
RE : Voting Rights of a Delinquent Member - Opinion No. 05-03
RE : Share issuance from original authorized capital stock; voting requirement - Opinion No. 05-02
RE : Bearer Certificates - Opinion No. 05-01
RE : Reclassification of pain-in surplus