Memorandum Circular No. 04
Series of 2003
FOR : All Concerned
SUBJECT : Guidelines on the Upgrading of Single Proprietorship or Partnership
Pursuant
to Sec. 9, Rule II, Part II of the New Rules and Regulations Governing
the Recruitment and Employment of Landbased Overseas Workers, and Sec.
8, Rule II, Book II of the Old POEA Rules and Regulations Governing
Overseas Employment, license holders which are single proprietorships
or partnerships may convert into a corporation for purposes of
upgrading or raising their capabilities to respond adequately to
developments/changes in the international labor market and to enable
them to better comply with their responsibilities arising from the
recruitment and deployment of workers overseas.
An agency may be upgraded from sole proprietorship/partnership into corporation upon submission of the following documents:
1.
SEC Registration and Articles of Incorporation of the newly established
corporation indicating among others the sole proprietor as the majority
stockholder;
2. Minutes of meeting on the election of officers duly received by SEC;
3.
Bio-data, pictures and valid NBI and AIRB clearances of all
partners/directors. In case of foreigners, clearance from country
of origin or copy of their valid passports;
4.
Duly notarized affidavit executed by the President supported by a board
resolution duly received by SEC to the effect that the corporation
shall assume full and complete responsibility for all liabilities and
claims which are filed or maybe filed against the agency under the
single proprietorship/partnership; and
5.
Duly notarized affidavit of undertaking executed by members of the
board of directors that they will be jointly and severally liable with
the corporation over claims arising out of employer-employee
relationship.
The
approval of the upgrading shall automatically revoke or
cancel the licenses of the single proprietorship or partnership
so upgraded.
For the guidance of all concerned.
ROSALINDA DIMAPILIS-BALDOZ
Administrator
January 16 2003
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