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BP 178 Section 10

Amendments to the registration statement.

Section 10

SEC. 10. Amendments to the registration statement.— (a) If a registration statement is on its face incomplete or inaccurate in any material respect, the Commission may, after notice by personal service or by sending a confirmed telegraphic notice to the registrant, issue an order denying action on the registration statement until it has been amended in accordance with such order. When such statement has been amended in accordance with such order the Commission shall act on the amended registration in accordance with the procedure mentioned in Section eight hereof. (b) An amendment filed after the effective date of the registration statement, shall become effective upon its approval by the Commission. (c) If the registration statement includes any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, the Commission may, after notice by personal service or by sending a confirmed telegraphic notice and after opportunity for hearing has been granted, issue an order suspending the effectivity of the registration statement. If the statement is amended in accordance with requirements, the suspension order shall be lifted. (d) The Commission may conduct an examination in any case in order to determine whether an order should issue under subsection (c) hereof. In making such examination the Commission or any officer or officers designated by it shall have access to, and may demand the product of, any books and records of, and may administer oaths and affirmations to and examine, the issuer, underwrite, or any other person, in respect of any matter relevant b the examination, and may in its discretion, require the production of the corporate books and records, among others, its assets and liabilities and income statement of the issuer, certified to by a certified public accountant. Failure of the issuer or underwriter to cooperate, his obstruction or refusal to undergo an examination, shall be a ground for the issuance of a suspension order. (n)

Read the full instrument → · Open the chapter this section belongs to: Chapter II. —Registration of Securities →

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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