EIGHTEENTH CONGRESS OF THE 
) 
REPUBLIC OF THE PHILIPPINES 
)
First Regular Session 
)
S.B. No.
SENATE
550
-
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(P ff'n 1 O' t ;< -i ■ 
If
•19 
JUL 16 
P2-41
RF.CEA'blJ b
INTRODUCED BY: SENATOR EMMANUEL D. PACQUIA
AN ACT
ESTABLISHING A SECURITIES AND EXCHANGE COMMISSION (SEC) OFFICE 
IN KORONADAL CITY AND APPROPRIATING FUNDS THEREFOR
EXPLANATORY NOTE
The Securities and Exchange Commission (SEC) governs the capital and corporate 
market infrastructure in the Philippines. Apart from ensuring free, fair, and competitive 
business environment, the national government regulatory agency also crafts speedy and 
systematic mechanisms to guarantee convenience in investment processes.
Region XII, otherwise known as SOCCSKSARGEN, has become a flourishing 
business hub in Southern Mindanao and neighboring provinces with the growing business 
opportunities brought by tourism and thriving local markets. South Cotabato, for instance, 
has been consistently included in the list of “most business-friendly” provinces.
With the overwhelming increase of private investors in the SOCCSKSARGEN, it is 
compelling to create a Securities and Exchange Commission office in the region to further 
encourage economic development rather than dissuade investors due to the inconvenience 
brought by the absence of a governing body that can immediately cater the business 
investors’ needs.
The SEC office shall be situated in Koronadal City, South Cotabato. being the 
provincial trading hub of the region.
In view of the foregoing, approval of this bill is earnestly sought^-.^
icS2
EMMANUEL DrfACQUIAO


EIGHTEENTTT CONGRESS OE TTIE 
) 
REPUBLIC OF THE PHILIPPINES 
)
First Regular Sessiort 
)
■■ 
•••"■IT
SENATE
INTRODUCED BY: SENATOR EMMANUEL D. PACQUIAO
ESTABLISHING A SECURITIES AND EXCHANGE COMMISSION (SEC) OFFICE 
IN KORONADAL CITY AND APPROPRIATING FUNDS THEREFOR
Be it enacted by the Senate and House of Representatives of the Philippines in Congress 
assembled:
1 
SECTION 1. Title. -  This Act shall be known as “SEC SOCCSKSARGEN OFFICE LAW.”
2 
SEC. 2. Creation. -  There shall be established a Securities and Exchange Commission (SEC)
3 
Office in Koronadal City, South Cotabato.
4
5
6 
7
SEC. 3. Organization. -  The Secretary of the Department of Finance (DOF) and of the SEC 
shall immediately include in its programs the organization of the SEC Office in Koronadal 
City, South Cotabato. The following ten (10) plantilla positions are hereby created for the initial 
operation of the SEC Office in Koronadal City, South Cotabato:
NUMBER OF 
POSITIONS
POSITION/TITLE
SALARY GRADE
1
SEC Extension Office Director
26
1
SEC Executive Assistant
13
1
SEC Clerk/Messenger
10
1
SEC Utililty/Driver
9
1
Securities Legal Counsel II
19
1
Securities Specialist II
18
1
Securities Speciali.st I
17
1
SEC Records Specialist II
13
1
SEC Support/Clerical I
10
1
SEC Computer Operator
7
8
9
10
The Department of Budget and Management (DBM) shall immediately issue a Notice 
of Organization, Staffing, and Compensation Action (NOSCA) or such similar documents 
necessary for the same purposes: Provided, That nothing in this section shall be construed as


11 
to limit the powers of the SEC under Republic Act No. 8799, or the Securities Regulation Code,
12 
to determine its own position and classification system and qualification standards.
13 
SEC. 4. Appropriations. -  The sum of ten million pesos (Php 10,000,000), in addition to SEC’s
14 
current annual budget and on top of its regular retention income as provided in the Securities
15 
Regulation Code, is hereby authorized to be appropriated to the SEC to finance the operation
16 
of the SEC Office in Koronadal City, South Cotabato for the first fiscal year after the effectivity
17 
of this Act.
18 
For each fiscal year thereafter, there is authorized to be appropriated to the SEC in the
19 
annual General Appropriations Act such additional sums as may be necessary for the continued
20 
operation and maintenance of the SEC Office in Koronadal City, South Cotabato and such
21 
other sums as may be provided by law for the salaries of its officers and employees to reflect
22 
pay rate changes made in accordance with the Securities Regulation Code.
23 
SEC. 5. Implementing Rules and Regulations. The Secretary of the DOF and the SEC shall
24 
issue the necessary rules and regulations for the effective implementation of this Act.
25 
SEC. 6. Separability Clause. -  If any section or provision of this Act shall be declared
26 
unconstitutional or invalid, the other sections or provisions not affected thereby shall continue
27 
to be in full force and effect.
28
29
30
31
32
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SEC. 7. Repealing Clause. -  All laws, decrees and orders or parts thereof inconsistent herewith 
are hereby repealed or modified accordingly.
SEC. 8 Effectivity Clause. -  This Act shall take effect fifteen (15) days after its publication in 
the Official Gazette or in at least two (2) national newspapers of general circulation.
Approved,