SEC Cfd Memorandum Circular No. 001 (2001)

(NAR) VOL. 12 NO. 2 / JANUARY - MARCH 2001

[ SEC-CFD MEMORANDUM CIRCULAR NO. 001, March 28, 2001 ]

SCALE OF FINES

Pursuant to Republic Act No. 8799, otherwise known as the Securities Regulation Code (SRC), and its implementing Rules and Regulations, the following scale of fines shall be imposed for late filing of reports by reporting corporations enumerated in Section 17.2 thereof: Reports Basic Penalty Penalty for everyday of Delay First Offense Second Offense Third Offense Annual Reports P100,000.00 P100.00 Tender Offer P100,000.00 P150,000.00 P200,000.00P100.00 Report Proxy Statement P100,000.00 P125,000.00 P150,000.00P100.00 Information P100,000.00 P125,000.00 P150,000.00P100.00 Statement Quarterly Report P 50,000.00 P 75,000.00 P100,000.00P100.00 Current Report P 50,000.00 P 75,000.00 P100,000.00P 100.00 Statement of Beneficial Ownership Nominal P 10,000.00 P 15,000.00 P 20,000.00 P 50.00 5% P 20,000.00 P 25,000.00 P 30,000.00 P 50.00 10% P 50,000.00 P 75,00.00 P100,000.00P 50.00 Whenever applicable, the second and third offenses shall refer to subsequent violations within a 12 month period from the first offense. This memorandum circular shall take effect immediately. Adopted: 28 March 2001

(SGD.) LILIA R. BAUTISTAChairman