operation of an approved project, mutatis mutandis. Section 22. If the SEC Office has found that any special purpose juristic person fails to process the securitization under the approved project without any
not brought to the court or forwarded to the committee for settlement under Section 42 within one year from the date on which the registrar or the competent official found the commission of offense, or
-transfer of assets to the originator or the discharge of assets placed as collateral during the operation of an approved project, mutatis mutandis. Section 22. If the SEC Office has found that any special
have the status of a secured creditor under the law governing bankruptcy. Section 22. If the Office of the SEC has found that any special purpose juristic person has securitiesed the assets into
prescription if it is not brought to the court or forwarded to the committee for settlement under Section 42 within one year from the date on which the registrar or the competent official found the commission of
. If the SEC Office has found that any special purpose juristic person fails to process the securitization under the approved project without any proper reason, the SEC Office has the power to revoke the
, provided that such person does not have any of the prohibited characteristics as prescribed in Section 23. In cases where it is subsequently found that the person acting as a director, manager, or holding a
, provided that such person does not have any of the prohibited characteristics as prescribed in Section 23. In cases where it is subsequently found that the person acting as a director, manager, or holding a
information through the performance of duties in such position or capacity; (5) juristic person under the control of the persons under (1) (2) (3) or (4). Section 44. If any of the following persons is found to
subsequently found certain defect in the qualifications or prohibited characteristics of the directors or lacking of appropriateness under Section 89/3. SECTION 89/6 An executive shall have qualifications and