Pursuant to Board Resolution No. 01-07-05 which was passed by the VRB Board of Directors during its regular meeting held on July 24, 2001 this Resolution is hereby implemented.

I. Effective immediately, VRB Holograms issued by the agency prior to 02 June 1999 shall not be validly used on videogram titles issued with classification and commercial permit by the BOARD from 01 January 2001.

II. Violation of this circular shall have administrative sanctions:

(a) First Offense - Fine of P10,000 + P100 for each videogram

(b) Second Offense - Fine of P20,000 + P150 for each videogram and 30 day suspension of license

(c) Third Offense - Fine of P30,000 + P200 for each videogram and 60 day suspension of license

(d) Fourth Offense - Fine of P50,000 + P250 for each videogram and Cancellation of license

No administrative fine that may be imposed shall exceed P100,000

III. Any videogram found not complying with this circular shall be deemed illegal and unlicensed.

This circular shall take effect 15 days upon its publication in a newspaper of general circulation and copy furnished the U.P. Law Center.