SECURITIES REGULATION CODE
WHEREAS, Sec. 72 thereof provides among others, that the Code shall
be self-executory and that absence of rules and regulations to implement
the same shall not in any manner affect the self-executory nature of
the Code.
NOW, THEREFORE, to prevent the emergence of any regulatory gap
pending the issuance of implementing rules and regulations and to ensure
orderly transition from the Revised Securities Act to the Securities
Regulation Code, the Commission, hereby ORDERS that:
All existing rules and regulations, implementing guidelines,
memo-circulars, orders and directives of the Commission which are not
inconsistent with the new Code shall remain effective until the
Commission declares them otherwise; andAll secondary licenses issued by the Commission shall also remain
effective and valid until their expiry or until revoked or cancelled by
the Commission.
Adopted: 9 August 2000
(SGD.) LILIA R. BAUTISTA
Chairman