MANILA, Philippines — The Securities and Exchange Commission (SEC) has drafted its guidelines on the revival of expired corporations. These corporations are those whose terms have expired prior to the enactment of Republic Act 11232, or the Revised Corporation Code of the Philippines. SEC chairperson Emilio Aquino said the revival of expired corporations would be beneficial to the country. The SEC en banc shall approve the petition and issue a certificate of revival of corporate existence. The certificate shall provide for perpetual corporate existence unless the corporation states a specific corporate term in its verified petition.

Source: Philippine Star April 09, 2019 16:02 UTC