Section 22Sec./Art. 22

Administrative Penalties. The STMO shall impose on any person found to have committed violations under this Act the following administrative penalties:

1. Limitation, revocation or annulment of any authorization and/or registration;

2. Imposition of fines of up to two hundred fifty thousand pesos (P250,000.00) or twice the value of the strategic good or related service under the contract or as assessed by the STMO; and

3. Upon request by the Securities and Exchange Commission and/or the Department of Trade and Industry or any other relevant agencies, order the cancellation or suspension of the registration and authorization/license to operate of the partnership, corporation, association and other juridical entity.

The imposition of the penalty shall be without prejudice to the filing of appropriate criminal charges against the persons responsible for the violation.