In order to ensure the proper application of the provisions of Memorandum Circular No. 31-90 regarding the exemption from wharfage dues enjoyed by BOI registered enterprises, Section 2 of the subject circular is hereby amended to read as follows:

"SECTION 2.       Period of Exemption - The maximum period for the enjoyment of the above incentives for all enterprises registered under the Omnibus Investment Code of 1987 (E.O. 226) or Presidential Decree No. 1789 as amended by Batas Pambansa Blg. 391 is ten (10) years reckoned from the date of registration of the export product or start-up of operation whichever comes later unless the certificate of registration Is sooner cancelled, in which case the period of exemption will be automatically terminated effective as of the date of such cancellation.

Enterprises registered with the Board of Investments under laws prior to Batas Pambansa Blg. 391, i.e. R.A. 5186 R.A. 6135 and P.D. 1789 (prior to its amendment by Batas Pambansa Blg. 391) shall continue to enjoy the incentives indefinitely for as long as they remain so registered and commit no violation of the provisions of their law of registration, the rules and regulations thereof or the terms and conditions of their certificates of registration."

This circular amends revokes and modifies all PPA issuances inconsistent herewith.

Be guided accordingly.

Adopted: 3 Oct. 1991


(Sgd.) ROGELIO A. DAYAN
General Manager