Section 151Sec./Art. 151

Revocation of License. - Without prejudice to other grounds provided under special laws, the license of a foreign corporation to transact business in the Philippines may be revoked or suspended by the Commission upon any of the following grounds:

(a) Failure to file its annual report or pay any fees as required by this Code;

(b) Failure to appoint and maintain a resident agent in the Philippines as required by this Title;

(c) Failure, after change of its resident agent or address, to submit to the Commission a statement of such change as required by this Title;

(d) Failure to submit to the Commission an authenticated copy of any amendment to its articles of incorporation or bylaws or of any articles of merger or consolidation within the time prescribed by this Title;

(e) A misrepresentation of any material mater in any application, report, affidavit or other document submitted by such corporation pursuant to this Title;

(f) Failure to pay any and all taxes, imposts, assessments or penalties, if any, lawfully due to the Philippine Government or any of its agencies or political subdivisions;

(g) Transacting business in the Philippines outside of the purpose or purposes for which such corporation is authorized under its license;

(h) Transacting business in the Philippines as agent of or acting on behalf of any foreign corporation or entity not duly licensed to do business in the Philippine; or

(i) Any other ground as would render it unfit to transact business in the Philippines.