What is the consequence if a corporation refuses or obstructs the SEC’s exercise of its visitorial powers?
What is the consequence if a corporation refuses or obstructs the SEC’s exercise of its visitorial powers? If a corporation, without justifiable cause, refuses or obstructs the SEC’s exercise of its visitorial powers, the SEC may impose severe sanctions (SEC. 178, Revised Corporation Code of the Philippines). Specifically, the SEC may revoke the corporation’s certificate […]
