The Philippine Securities and Exchange Commission has established an optional paperless processing lane through the Electronic Application for Modification of Entity Data portal for selected amendments to articles of incorporation and bylaws. Covered changes include a corporation’s principal office address, term of existence, board size and certain fiscal-year provisions, as well as the date of annual stockholder or member meetings. Corporations may continue using applicable existing processing lanes and submitting hard copies. Authorized representatives and corporate secretaries must have credentialed Electronic SEC Universal Registration Environment accounts. Applications require signed and notarized documents and a separate notarized secretary’s certificate with undertaking. Scanned submissions will have the same legal effect as hard copies, subject to verification, random post-evaluation and inspection. The SEC may require originals, and failure to provide them within 15 calendar days of a post-audit directive may result in a PHP 20,000 penalty and/or revocation of the approved amendment. Other violations may lead to cancellation, exclusion from paperless filing, administrative sanctions or legal proceedings.

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