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(NAR) VOL. 12 NO. 1 / JANUARY - MARCH 2001

[ SEC MEMORANDUM CIRCULAR NO. 02, S. 2001, March 12, 2001 ]


In compliance with Section 27 of R.A. 8792, otherwise known as the "Electronic Commerce Act", and Sec. 37 of its Implementing Rules and Regulations, all corporations with gross sales or revenue of Ten Million (P10,000,000.00) Pesos and above, are hereby directed to file four (4) copies and a diskette of the General Information Sheet (GIS) within thirty (30) days from the date of annual meeting, as specified in the by-laws and four (4) copies and a diskette of the Audited Financial Statements (F/S) duly stamped "RECEIVED" by the Bureau of Internal Revenue within 120 days (105 days for corporations whose securities are registered under the Revised Securities Act or Securities Regulation Code) after the end of the fiscal year as specified in the by-laws.  A certification that the GIS diskette contains the excat data stated in the hard copies and the F/S diskette has the basic and material data in the F/S executed, under oath by the Corporate Secretary for the former and by the Treasurer for the latter shall also be submitted.

Those corporations with lower amount of gross sales or revenue have also the option to file these reportorial requirements with diskettes.  Otherwise, they shall file six (6) hard copies of said documents.

Attached are the forms for the GIS (for stock corporation), GIS (for non-stock corporation) and F/S, as Annexes ( Text Available at Office of the National Administrative Register, U.P Law Complex) "A", "B", and "C, respectively.

All existing circulars, orders, memoranda and other related issuances inconsistent with this circular are hereby revoked or modified accordingly.

This memorandum circular shall take effect immediately

Adopted: 12 March 2001

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