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(NAR) VOL. 15 NOS. 1-2 / APRIL - JUNE 2004

[ SEC MEMORANDUM CIRCULAR NO. 9, May 20, 2004 ]

CONSOLIDATED SCHEDULE OF FEES AND CHARGES



As approved by the Commission en Banc, hereunder is the list of all the fees and charges to be imposed and collected by the Securities and Exchange Commission.

Company Registration and Monitoring Department
Application
Filing Fee
1. Articles of Partnership
1/5 of 1% of the Partnership's capital but not less than P1,000.00
2. Increase of Capital of Partnership
1/5 of 1% of the increase in capital but not less than P1,000.00
3. Amended Articles of Partnership
P1,000.00
4. Deed of Assignment of Partnership Interest
P500.00
5. Articles of Dissolution of Partnership
P500.00
6. Affidavit of Withdrawal of Partner
P500.00
7. Articles of Incorporation
        a. Stock corporation with par value

   
1/5 of 1% of the authorized capital stock or the subscription price of the subscribed capital stock whichever is higher but not less than P1,000.00
        b. Stock corporation without par value

   
1/5 of 1% of the authorized capital stock computed at P100.00 per share or the subscription price of the subscribed capital stock whichever is higher but not less than P1,000.00
        8. Articles of Incorporation of Non-stock corporation
P500.00
        9. By-Laws of both stock and non-stock corporation
P500.00
        10. Amended Articles of Incorporation of both stock and non-stock corporation
P500.00
        11. Amended Articles of Incorporation where amendment consists of extending the term corporate existence
 
1/5 of 1% of the authorized capital stockbut not less than P2,000.00
        12. Amended Articles of Incorporation Re: Conversion/Reclassification of shares
 
P2,000.00
   
        13. Amended by-laws of both stock and non- stock corporation
 
P500.00
        14. Increase of Capital Stock
 
                a. Corporation with par value

   
 
1/5% of 1% of the increase in capital stock or the subscription price of the subscribed capital stock whichever is higher but not less than P1,000.00
                b. Corporation without par value

   
 
1/5 of 1% of the increase in capital stock computed at P100.00 per share or the subs- cription price of the subscribed capital stock whichever is higher but not less than P1,000.00
                15. Decrease of Capital Stock
 
                        a. Return of Capital
 
P3,000.00
                        b. All others
 
P2,000.00
                        16. Certificate of incurring, creating, increasing bonded indebtedness
 
1/10 of 1% of the total indebtedness but not less than P500.00
                        17. Merger or consolidation of corporations
 
1/5 of 1% of the equity of the absorbed corporation/s but not less than P3,000.00
                        a. In Merger, in case of simultaneous filing of application for increase of authorized capital stock by the surviving corporation
 
Filing fee for increase in Capital Stock (refer to item 14 above) or the filing fee for Merger (refer to item 17 above) whichever is higher
                        b. In consolidation where the total equity of constituent corporations is different from the authorized capital of the consolidated corporation
 
1/5 of 1% of total equity of the constituent corporations or the filing fee for Articles of Incorporation (refer to item 7 above) whichever is higher
                        18. Valuation of Consideration for Shares of Stock
 
1/5 of 1% of the amount of shares of stock to be issued but not less than P2,000.00
                        19. Equity restructuring
 
                        a. To wipe out existing deficit
 
P3,000.00
                        b. To create additional paid-in capital
 
1/5 of 1% of the amount infused but not lessthan P1,000.00
                        20. Stock/Cash Dividend of up to P50,000,000.00 declared by the corporationwhose securities are not listed.
 
P500.00
                        21. Stock/Cash Dividend of over P50,000,000,00 declared by the corporationwhose securities are not listed.
 
P1,000.00
                        22. Property Dividend Declaration
 
1/5 of 1% of the amount declared but not lessthan P1,000.00
                        23. Application under the Foreign Investment Act (aside from the filing fee for articles of Incorporation)
 
P2,000.00
                        24. Application of Stock Foreign corporations:
 

                        a. branch office
 
1% of the actual inward remittance of the corporation converted into Philippine currencybut not less than P2,000.00
                        b. representative office
 
1/10 of 1% of the actual inward remittance ofthe corporation converted into Philippinecurrency but not less than P2,000.00
                        25. Application of Non Stock foreign corporation
 
P2,000.00
                        26. Application for Area or Regional Headquarters
 
P5,000.00

                        27. Application for Regional Operating Head- quarters or petition for Conversion of an Area or Regional Headquarters into a Regional Operating Headquarters
 
1% of the actual remittance but not less than1% of peso equivalent of $200,000 at the time of remittance

   
                        28. Petition for Amendment of License of a foreign corporation
 
P2,000.00
                        29. Cancellation of license of a foreign corporation
 
P2,000.00
                        30. Cancellation of license of Regional Headquarters of multinational corporation
 
P1,000.00
                        31. Cancellation of license of Regional Operating Headquarters of multinational corporation
 
P2,000.00
                        32. Appointment of a Resident Agent or Substi- tute Resident Agent
 
P1,000.00
                        33. Revocation of Appointment of Resident Agent or Substitute Agent
 
P1,000.00
                        34. Amended Articles of Incorporation of a Foreign Corporation
 
P1,000.00

                        35. Amended By-Laws of a Foreign Corporation
 
P1,000.00
                        36. Recording of Deed of Assignment of Shares of stock
 
P300.00
   
                        37. Petition to set aside Order of Suspension/ Revocation
 
P1,000.00
                        38. Petition for Correction in Articles of Incorporation, By-Laws or amendments thereto
 
P1,000.00
                        39. Certification on Corporate Information, recording of deed of assignment of stock
 
P300.00
                        40. Certificate of Company Status
 
P500.00
41. Certification of Paid-up capital, Outstanding capital, Percentage of Filipino stockholdings,etc.
 P400.00
42. Accreditation of appraisal Companies
 P5,000.00
43. Registration fee for Stock and Transfer Book
 P150.00
44. Registration fee for Membership Book
 P75.00
45. Name Verification/Reservation Fee
 P7P40.00 per allowed name5.00
Corporation Finance Department
Application
Filing Fee
1. Registration Statement

      (Registration of equity securities, commercial papers or debt securities, proprietary or non-proprietary shares or memberships, warrants and options)
Not more than P500 Million worth of securities:

- 0.10% of the maximum aggregate price of the securities to be offered

More than P500M but not more than P750 Million:

- P500,000 plus 0.075% of the excess over P500 Million

More than P750 Million but not more than P1 Billion:

- P687,500 plus 0.05% of the excess over P750 Million

More than P1 Billion:

- P812,500 plus 0.025% of the excess over P1 Billion

(in case of options or warrants which have no issue value: Minimum of P50,000.00 in addition to the fees which may be due on the underlying shares)
2. Voluntary Revocation of Securities under SRC Rule 13
P5,000.00
3. Amended Registration Statement in accordance with SRC Rule 14
P10,000.00

 In case of an increase in offering price: 1/10 of 1% of the amount of difference between the highest aggregate amount per old range and the total amount based on new volume or price.
4. Confirmation for exemption under Section 10.1 of the Securities Regulation Code (SRC)
1/10 of 1% of the aggregate value of the securities to be sold or issued
5. Request for exemption under Section 10.2 of the Securities Regulation Code
1/10 of 1% of the aggregate value of the securities to be sold or issued
6. Request for exemptive relief under Section 72.2 of the SRC Rule 19
P5,000.00
7. Accreditation of External Auditor (Original and Renewal)
P2,000.00
8. Accreditation of an Auditing Firm (Original and Renewal)
P5,000.00
   
9. Accreditation of Credit Rating Agency
Original application:

P50,000.00

Annual fee:

P10,000.00
1/10 of 1% of the amount of Paid-Up capital stock
11. Annual Fee (Head and Branch Office)
1/8 of 1% of the required paid-up capital stock
12. Registration as Investment Company
P5,000.00
   
13. Other Filings


     
a. Information Statement filed by the registrant (SEC Form 20-IS) P5,000.00
b. Information Statement filed by a person other than the registrant under SRC Rule 20
P2,000.00
c. Tender Offer Statement (SEC Form 19-1) and other appropriate filings under Section 21 of the SRC

   
   

     

Not more than P500 Million worth of Securities:

0.10% of the maximum aggregate price of the securities to be tendered

More than P500 Million but not more than P750 Million:

P500,000 plus 0.075% of the excess over P750 Million

More than 750 Million but not more than P1 Billion:

P687,500 plus 0.05% of the excess over P750 Million

More than P1 Billion:

P812,500 plus 0.025% of the excess over P1 Billion

d. Listing Fee
P2,500.00
e. Annual Information Statement of Exempt Commercial Paper Issuer (SEC Form 85-18-1)
 P10,000.00
f. Certification Fee
 P300.00
Non-Traditional Securities and Instruments Department
A. Registration/Licensing of Securities
Application

Filing Fee
1. New and Additional

1/10 of 1% of the maximum aggregate price at which the securities are proposed to be offered
2. Petition for Price Increase
P2,500.00
3. Petition for amendment of Registration Statement/contracts/all applicants

P2,500.00


4. Petition for release of balance
P2,500.00
5. Petition for cancellation of registration

P2,500.00
6. Petition for suspension and/or cancellation of permit to sell
P2,500.00
B. Dealer/Branch/Salesmen/General Agent
1. New

 
1.1 Dealer

 
a. Head Office

P10,000.00
 
b. Branch Office

  
1. Within Metro Manila
P5,000.00
  
2. Outside Metro Manila

P2,500.00
 
1.2 General Agent
P5,000.00
 
1.3 Salesman

 
a. Dealer
P200.00
 
b. General Agent
P200.00
2. Renewal
 
2.1 Dealer

 
a. Head Office
P5,000.00
b. Branch Office
  
1) Within Metro Manila
P2,500.00
  
2) Outside Metro Manila
P1,500.00
 
2.2 General Agent
P2,500.00
 
2.3 Salesman
 P200.00
3. Closure of Branch Office
 P1,000.00
C. Others
1. Approval of Trust Agreement
P2,500.00
2. Accreditation of Pre-Need Actuaries
P1,000.00
3. Certifications
 P300.00
4. Accreditation of Pre-Need External Auditors(Sec. 6.3 of SEC MC No. 13, series of 2003)


   
P2,000.00

     
D. Alternative Trading System (ATS)
1. Registration and licensing of the system or renewal


   

1.1 Alternative Trading System                                        P50,000.00
1.2 Semestral Transaction Fe
 
a. For first two (2) billion of the aggregate amount of the sales of securities transacted on such ATS during the preceding semester

         
     
1/300 of 1%
         
b. For the next two (2) bilion

         
     
1/200 of 1%
  
c. Onwards

         
     
1/100 of 1%
2. Application for exemption under ATS                                P5,000.00
3. Certification under ATS                                                      P300.00
Market Regulation Department
A. Registration/Licensing
Application
Filing Fee
1. Nee


   



   
1.1 Broker-Dealer



    		 
a. Head Office
 P50,000.00


    		 
b. Branch
 P10,000.00
1.2 Broker 
 1.3 Dealer
 


    		 
a. Head Offic
P25,000.00
 1.4 Salesperson
P2,000.00
 1.5 Associated Person
P3,000.00
 1.6 Investment Company Adviser
 


    		 
a. Head Office
P10,000.00
 1.7 Certified Investment Distributor/Sales- person/Certified Investment

    		2004-P945.00


    		 
Solicitor
2005-P1,420.00     
  
2006-P2,125.00
 1.8 Investment Houses/Underwriters of Securities/Government Securities Eligible Dealers


    		 


    		 
a. Head Office
P50,000.00


    		 
b. Branch
P10,000.00
 1.9 Investment Houses/Underwriters of Securities Dealing in Government Securities


    		 


    		 
a. Head Office
P50,000.00


    		 
b. Branch
P10,000.00
 

1.10 Associated Person



    		P 1,000.00
 

1.11 Transfer Agents

   

    		P10,000.00
 

1.12 Stock Exchanges



    		P50,000.00


    		 
a. Additional Fees
1/100th of 1% of the aggregate amount of sales of securities transacted during the preceding calendar year
 

1.13 Clearing Agencies and Central Depositories



    		 


    		 
a. Additional Fees
P50,000.00
2. Renewal

 

2.1 Broker-Dealer



   


    		 
a. Head Office
P20,000.00


    		 
b. Branch
P5,000.00
 

2.2 Broker



   


    		 
a. Head Office
 P10,000.00
 

2.3 Dealer



    		 


    		 
a. Head Office
P10,000.00
 

2.4 Salesperson



    		P1,000.00
 
 

2.5 Associated Person



    		P1,500.00
 

2.6 Investment Company Adviser



    		 


    		 
a. Head Office
P3,000.00
 2.7 Certified Investment Distributor/ Salesperson/Certified Investment Solicitor 2004-P650.00
 
  
   2005-P815.00
    
   2006-P1,015.00
 2.8 Investment Houses/Underwriters of Securities/Government Securities Eligible Dealers
  


    		 
a. Head Office
P20,000.00


    		 
b. Branch
P5,000.00
 2.9 Investment Houses/Underwriters of Securities Dealing in Government Securities
  


    		 
a. Head Office
P30,000.00


    		 
b. Branch
P5,000.00
 2.10 Associated Person
 P500.00
 2.11 Transfer Agents
 P3,000.00

B. Other

1. Additional Listing of PSE shares
P10,000.00
2. Listing Fee for PSE Shares
1/10 of 1% of the number of shares to be listed x placement fee
3. Certification
P300.00
Economic Research and Information Department   
A. Preparation of statistical reports, company listings and related information on SEC-registered entities   
Application
Service Charge/Fee
1. Computer usage/processing time
P2.00 per minute
2. Special program fee for institutional/transaction individual researcher
P500.00 per
3. Hard copy of documents with list containing various information such as address, industry classification, equity structure, etc.

P5.00 per page
4. Soft copy of documents with list containing various information such as address, industry classification, equity structure, etc.
 
a. CD-RW media P100.00 per piece
b. 1.44 MB floppy diskette P50.00 per piece
B. SEC Publication
1. SEC Bulletin

P150.00 per copy
Human Resource and Administrative Department
Application
Service Charge/Fees
1. Public Reference Unit Service Charge
P20.00/transaction
2. Reproduction of Documents
 
PLAIN MICROFILM COP
AUTHENTICATED COPY


   
a. Articles of Incorporation
P100.0
P150.00


b. By-Laws
P100.0
P150.00


   
c. General Information Sheet
P 25.0
P 50.00


   
d. Increase in Capital Stock
P 50.00
P100.00


   
e. Resolution
P15.00
P50.00


   
f. Secretary's Certificate
P15.0
P50.00


   
g. Board Resolution
P15.00
      P50.00


   
h. Registration Data Sheet
       
P25.00
P50.00


   
i. Deed of Assignment
P15.00
P50.00
j. Borrowing fee for hard copy (PRU paper copy not available in microfilm or CD)

    
     
     
Reproduction Cost (xerox) plus P50.00/document
3. Reproduction of documents not mentioned in item2 above

    
     
     
P5.00/page plus P20.00/corporation
4. Authentication of documents not mentioned in Item 2 above.

    
     
     
P5.00/page plus P20.00/documen

In addition to the Registration Fee, there shall be a Legal Research Fee equivalent to one percent (1%) of the Filing Fee but not less than Ten pesos (P10.00).

All other circulars, rules, orders and issuances, or parts thereof inconsistent with this Memorandum Circular are hereby repealed or modified accordingly.

Adopted: 20 May 2004


(SGD.) LILIA R. BAUTISTA
Chairperson
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