On January 26, 2000, the Board issued Memorandum Circular No. 2000-001 temporarily suspending the implementation of Memorandum Circular No. 99-011 dated 22 June 1999, to February 29, 2000.

Considering that the Board is still deliberating with the Insurance Commission and other affected sectors on the implementation of the said circular, the Board hereby resolved to further suspend the implementation of said Memorandum Circular until further orders.

This Memorandum Circular shall take effect immediately.

Adopted: 24 Feb. 2000

(SGD.) DANTE M. LANTIN
Chairman

(SGD.) REMEDIOS G. BELLEZA
Board Member