Document background
Action Minutes are essential corporate governance documents used in the Philippines to record and formalize decisions made during official corporate meetings. They serve multiple purposes: as legal evidence of corporate decisions, as a reference for implementing approved actions, and as documentation for regulatory compliance. These minutes must be prepared in accordance with the Revised Corporation Code of the Philippines and other relevant legislation, including the Securities Regulation Code for publicly listed companies. Action Minutes typically document meeting details, attendance, discussions, voting results, and resolutions, and must be certified by authorized officers. They are particularly crucial for corporate accountability, protecting both the corporation and its officers, and may be required for submission to regulatory bodies such as the Securities and Exchange Commission of the Philippines.
