Supreme Court E-Library
Information At Your Fingertips

  View printer friendly version

(NAR) VOL. 16 NO. 1 / JANUARY - MARCH 2005

[ SEC MEMORANDUM CIRCULAR NO.2, S. 2005, February 17, 2005 ]


In compliance with Section 27 of R.A. 8792 known as the "Electronic Commerce Act", Sec. 37 of its Implementing Rules and Regulations, and consistent with the thrust of the government to use ICT (ICT: Information and Communication Technology) in achieving a more efficient and more transparent governance to further improve the delivery of government services, all corporations required to submit Audited Financial Statements (AFS) 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 Regulations Code) after the end of the fiscal year as specified in the by-laws, are hereby given the option to submit online the equivalent electronic document (or soft copy) through SEC online report submission facility.

Accordingly, those who desire to avail for themselves the option offered under this Memorandum Circular shall sign the applicable Memorandum of Agreement with the SEC, and thereafter, register for online submission.

Those corporations opting to submit the AFS online who are likewise required to submit the F/S diskette (SEC Memorandum Circular No.2 s. 2001. A copy is available from the SEC Website or at the following URL,,2001/mc/SEC-Memo-02.htm) using the SEC devised F/S template (Available for downloading from the SEC Website, particularly under the "Downloads" section) shall also have an online facility for submitting the information on the F/S diskette.

This Memorandum Circular shall govern exclusively the online submission of reports of those corporations opting to go online and will not in anyway affect those corporations who prefer to submit the hard copy and the accompanying diskette(s) pursuant to applicable rules and regulations.

This memorandum circular shall take effect 15 days after publication in a newspaper of general circulation and/or posting on the SEC Website at the following URL,

Adopted: 17 Feb. 2005


© Supreme Court E-Library 2019
This website was designed and developed, and is maintained, by the E-Library Technical Staff in collaboration with the Management Information Systems Office.