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An Extraordinary Lunch Meeting

By: Director Ian Alas
July 30, 2008

Another sumptuous meal at the Dusit Thani Hotel – something that we all now expect every Wednesday for our P700 peso meal… although their service time can get better…

During this week’s lunch meeting we had a joint meeting with RC Makati Southwest, a group of gentlemen and business professionals like us Makati North… I didn’t notice any table (about 4) that wasn’t in a jolly mood attitude. Was this because we left our troubles in the office to meet friends for a blissful lunch meeting? I wonder why, but I do hope all this will be the constant mood all the time…

We had guest speaker, a Rotarian from RC Paranaque South, SEC Commissioner Jesus Martinez. Commissioner Martinez put down his 16-page speech about the accomplishments of SEC and instead gave a brief history of the agency and its current responsibilities here in the Philippines.

Did you know that:

1. SEC is composed of 5 Commissioners – 1 Chairman and 4 Members.
2. SEC’s main responsibilities are to be a Policy center, a regulator, and projects what the market will be, what products to be approved.
3. Yes, SEC had the right to issue that order to Meralco during their Annual meeting.
4. The SEC order was only actually to order the Meralco management to not count the proxy votes until verified by SEC for its proper procedures. (They say it would only take a few hours to do it).
5. Yes, SEC does not anymore have any jurisdiction over Intra-corporate disputes. That’s up to the Regional Trial court to oversee.
6. Yes, the SEC is in High-Tech now. As they can meet and discuss important matters thru Teleconference.
7. No. The SEC commissioners are not all glued to their seats at their SEC office.
8. They are an active, hands-on Commissioners going here and there.
9. And No, the SEC is not a SECURITY AGENCY for Security Guards or for purchase of Fire Arms. Go to PNP.

President Klink announced the results of our general election and there were overwhelming votes for Director Vic Austria as the next President of RC Makati North. And yes, Commissioner Martinez did not have any objections to these proceedings.