Fees; additional personnel; Commissioner's Compensation.
Section 44
SEC. 44. Fees; additional personnel; Commissioner's Compensation.— The Commission is authorized to charge and collect the following fees: For registering an investment company—One hundred pesos. If the securities of the company are likewise registered, the schedule of fees prescribed in the Securities Act shall instead be applied. For every examination of the financial condition of an investment company—One hundred pesos. The Commission is authorized to conduct such examination as often as may be necessary in the public interest or for the protection of investors. For each exemption—Thirty pesos. For every determination granting a right on privilege—thirty pesos. For each certificate of authority issued to an agent or investment solicitor—Ten pesos. For each instrument, document, or paper not required to be filed but which an interested party desires to be attached to the records of an investment company—Five pesos. Every right, privilege, exemption or registration under this Act shall be sought from the Commission in the form of a petition for which the corresponding fee herein authorized to be collected shall be paid before any action is taken thereon. The grant or denial of the petition shall be in the form of an order issued by the Commission. No denial, withdrawal or abandonement of the petition shall be a ground for the refund of the fee paid therefor. For the effective implementation and enforcement of this Act, the following additional positions in the Securities and Exchange Commission are hereby authorized to be created by the Commission: One Legal Officer at six thousand five hundred fifty-two pesos per annum. Three Legal Officers at five thousand three hundred seventy-six pesos each per annum. Five Examiners at five thousand three hundred seventy-six pesos each per annum. One Stenographer at three thousand one hundred eight pesos per annum; and Two Clerks at two thousand four hundred fifty-four pesos each per annum. Any person entering the government service who may be appointed to any of said positions shall start at the initial rate of the salary corresponding to his position, as provided under the pertinent laws, rules and regulations. The Commission shall take charge of the enforcement implementation of the provisions of this Act. The Securities and Exchange Commissioner shall receive the compensation and enjoy all the privileges of Judges of the Court of First Instance.