THE Securities and Exchange Commission has suspended the registration of the securities of two country clubs and revoked the registration of those of two others.

The commission suspended the registration of securities and permit to sell securities of Tagaytay-based Buena Vista Park and Country Club Inc. for 60 days, and for failing to meet its reportorial requirements. The company, owned by the Ledesma family, was also fined P151,000.

The same penalties were imposed on Pamplona Plantation and Country Club Inc., which is based in Dumaguete, Negros Oriental, for failing to submit its 2007 annual report and a quarterly report for 2008. The company also failed to attend a hearing to discuss its violations.

The commission also revoked the registration of securities of Waterworld Theme Park and Country Club for failing to elect an independent director as provided by its Manual of Corporate Governance.

Despite orders from the commission, the company also failed to submit its 2005 audited financial statements.

Waterworld, located in Sta. Rosa, Laguna, was also fined P1.335 million.

Villa Anna Paradise Resort and Farm Inc. also had its registration of securities revoked for failing to submit the transfer certificate title of the land on which the proposed resort and farm is located.

The commission earlier gave the company until Nov. 19 to submit the title with the required annotation of lease.

The incorporators of the resort project in Mindoro include Felicidad Dizon, August Flor and Hero Dizon. Jenniffer B. Austria