Freeman Cebu Business

SEC Cebu launches new digital systems

The Freeman

CEBU, Philippines — Corporations may now file amendments to their articles of incorporation (AoI) or by-laws online, as the Securities and Exchange Commission (SEC) continues to launch new digital systems that will streamline and automate its processes.

The Commission on January 15 issued SEC Memorandum Circular No. 3, Series of 2024, providing the Guidelines on the Use of the Electronic Application for Modification of Entity Data (eAMEND) Portal.

Starting February 23, applications for amendments to a corporation’s AoI and/or by-laws shall be made through the eAMEND Portal, in line with the Commission’s shift to electronic filing, mandated under Republic Act No. 11232, or the Revised Corporation Code of the Philippines.

“The eAMEND Portal is the Commission’s newest innovation that will make filing documents faster, easier, and more efficient for the transacting public,” SEC Chairperson Emilio B. Aquino said.

“As the SEC continues its digital transformation journey, we will endeavor to provide more solutions that will push the corporate sector forward in the digital world, while also reaching our targets on sustainability and good governance,” he added.

The SEC Cebu Extension Office Director, Atty. Sheara Lupango-Tamayo, vocalized her support in the Commission’s latest initiative, “We will strive for the seamless implementation of the eAMEND portal into our pre-existing processes to improve the ease of doing business within our jurisdiction.”

Applications are classified into those that will be issued a digital certificate and those to be given original certification. The first classification applies to applications for amendment of the (AoI) and/or by-laws by domestic stock and non-stock corporations.

Meanwhile, applications that will undergo regular processing shall include those for the amendment of partnership, dissolution of partnership, conversion of OPC to an ordinary stock corporation and vice versa, and increase of capital stock of an OPC via cash.

Changes in provisions regarding purposes, capitalization, and reclassification of shares of corporations, as well as other amendments to the AoI not covered in the first classification, shall likewise undergo regular processing.

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