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Sec Cert Anti Dummy
Sec Cert Anti Dummy
SECRETARY’S CERTIFICATE
3. I hereby declare that, upon receipt of such notice from SEC, the
corporation has immediately undertaken proper corrective measures to be
compliant with the requirements of Section 2-A of the Anti-Dummy Law, by
_____________________________________________, as shown in the
corporation’s most recent General Information Sheet, submitted to SEC on
__________________________, copy of which is hereto attached as
Annex “I”;
_____________________
Corporate Secretary
NOTARY PUBLIC
Doc. No:_____;
Page No.:_____;
Book No.:_____;
Series of 2016.
ANTI-DUMMY LAW RELATED MATTERS
1
What is the coverage of the Anti-dummy Law?
.
Section 2-A of the Anti-Dummy Law prohibits the employment by any person, corporation, or
association of an alien, who shall intervene in the management, operation, administration or control
thereof, whether as officer, employee, laborer, when the exercise or enjoyment of the property or of the
franchise, privilege, or business engaged in by such person, corporation or association “is expressly
reserved by the Constitution or the law to the citizens of the Philippines” or “corporations or
associations at least 60%of the capital of which is owned by such citizens.” Hence, the Anti-Dummy
Law comes into operation if the corporation concerned is engaged in a wholly or partially nationalized
activity.