In the interest of the service, and pursuant to the 76th Staff Meeting held on 23 February 1995, the Management duly approved the suspension of the provisions of Memorandum Circular No. 95 relative to the Shiprepaires, Afloat Repairers Boat builders and Shipbreakers.

Relative thereto, only companies and/or entities seeking to renew their licenses are given a period of one (1) year within which to comply with the provisions of Memorandum Circular No. 95, failure of which shall constitute a bar to the renewal of their license in the future. Furthermore, this shall be construed as an automatic suspension of operation without prejudice to the filing of appropriate charges in the event it shall be found to have continued its operations without the requisite license.

Suspension of aforecited Memorandum Circular is inapplicable to those who shall apply for the initial issuance of license, in which case the provisions of the same govern.

This takes effect immediately.

Adopted: 28 Feb. 1995

(SGD.) PACIENCIO M. BALBON, JR.
Administrator