THE Securities and Exchange Commission (SEC) extended the general information sheet (GIS) submission deadline to give corporations time to adjust to the online submission tool and as the country’s strict lockdown measures are extended.
“The adjusted deadline applies to stock corporations, which held their annual stockholders’ meetings prior and during the enrollment period for the newly launched SEC Online Submission Tool (OST),” the corporate regulator said.
The enrollment period for the online portal will run from March 15 until Dec. 15. Stock corporations are required to use the OST beginning this year, while nonstock corporations have until 2022 before they are required to enroll and use the platform.
A notice the corporate regulator issued to corporations on March 31 noted that all stock and nonstock corporations are given 90 days from the date of their annual stockholders’ meeting or annual members’ meeting to submit their GIS.
“For instance, a corporation that held its annual meeting on March 30 will have until June 28 to submit its GIS. Meanwhile, a corporation originally due to submit the report on or before March 12 will have an additional 60 days, or until May 11, to comply with the requirement,” the SEC explained.
The date of the meeting will be determined by the corporations’ board of directors or trustees, or it may follow the date stated in their by-laws.
“The adjusted deadline also covers corporations which failed to hold their annual meetings in 2020 and were initially given until January 30, 2021 to submit their GIS,” the commission said.
These corporations have until April 30 to submit copies of their GIS through the online portal for stock corporations, while nonstock corporations have the option of submitting it over-the-counter.
Over-the-counter submissions by stock corporations will be allowed only if their authorized filer encountered a problem while using the OST, which should be backed with proof of the error message.
The commission said its main office in Pasay City is operating with a skeletal workforce due to the reimposed enhanced community quarantine. The SEC Electronic Records Management Division will only accept annual reports and other documents from those with appointments.
Shortened operating hours will be implemented in the payment centers in the commission’s main and Ortigas office. Transactions will be accepted in the main office until 2:30 p.m.
SEC’s Company Registration and Monitoring Department said only the following services will be offered on-site: receiving of applications, releasing of certificates, certificate typing/printing, stamping of books, and preparation of source documents.
“The public is advised to transact business online, as the SEC will continue implementing work-from-home and other alternative work arrangements, in accordance with the guidelines issued by the Civil Service Commission,” the SEC said. — Keren Concepcion G. Valmonte