THE Securities and Exchange Commission (SEC) said it has processed at least 2,500 applications for company registrations while Luzon and other regions undergo enhanced community quarantine to contain the coronavirus disease 2019 pandemic.
“The SEC’s company registration system (CRS) has remained online since the Inter-Agency Task Force for the Management of Infectious Diseases implemented the month-long quarantine over Metro Manila and eventually the entire Luzon effective March 15,” it said.
“The CRS allows for the full automation and online pre-processing of the registration of corporations and partnerships, as well as licensing of foreign corporations,” it added.
From March 16 to 27, the company registration and monitoring department (CRMD) processed 2,500 applications. Of the total, 314 were promoted for the generation of the corresponding certificates of registration, 1,014 were assessed for payment, and 1,172 were required to include additional requirements.
Alongside, the CRMD processed 562 name verification appeals, of which 429 were approved and 133 were denied. Applicants whose name verification appeals were approved may now proceed with the registration process.
