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more, in money or property, shall appear in a public instrument, which must be recorded in
Failure to comply with the requirements of the preceding paragraph shall not affect the
The amount of P 3,000.00 herein provided came from SEC opinion last June 1 ,1960. its
purpose is to provide an amount which would be of value for the partners prior to registration. The
amendment of P3,000.00 to P10,000.00 herein proposed is due to the time value of money. The
value of money consistently decreases as time passes following the principle of finance concerning
interest rates. This means that the value of P 3,000.00 during 1960 is totally different with the
value P 3,000.00 today in relation to its purchasing power. The amount of P 3,000.00 today is
probably of no value compared to the P 3,000.00 during 1960 hence this proposal.
This proposal of amending the amount from P 3,000.00 to P10,000.00 follows the intent
and opinion of SEC last June 1 , 1960 to provide an amount of a value prior to making it appear
in a public instrument.
Prepared by:
JONATHAN G. PACIFICO
LLB III
Submitted to: