ONS Section 1. Title. - This shall be known as "The Securities Regulation Code" Section 2.

Declaration of
State Policy. – The State shall establish a socially conscious, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.
“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.
as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.
as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.
, free market that regulates itself

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.

“Indeed if a foreign corporation, not engaged in business in the Philippines, is not barred from
seeking redress from courts in the Philippinesredress from courts in the Philippines, a fortiori, that
same corporation cannot claim exemption from being sued in Philippine courts for acts done
against a person or persons in the Philippines.

as we have held in Western Equipment & Supply Company vs. Reyes (51 Phil., 115), does Philippine
courts for the recovery of any debt, claim or demand business in the State, such act constitutes doing
business within the meaning of statutes prescribing the conditions under which a foreign
corporation may be served with summons.