Please be advised of the following Resolution No. 09-15 approved by the Videogram Regulatory Board during its Regular Meeting of 28 September 1988.

œRESOLVED, as it is hereby resolved, that a 100% surcharge shall be imposed on the license fees of all video establishments who have been operating for more than one (1) month without first being registered with and licensed by the Board and of those who failed to renew their licenses and were inspected by the Board ™s inspection team.

RESOLVED, further, that a surcharge shall be imposed on the license fees of those who renewed their licenses beyond the expiry date without being inspected by the Board ™s inspection team as follows:

20%     -           if license is renewed within two (2) months after expiry date;

30%     -           if license is renewed within the third to fourth month after expiry date;

40%     -           if license is renewed within the fifth to sixth month after expiry date;

70%     -           if license is renewed after six (6) months from expiry date.

RESOLVED, finally, that if the license is not renewed one (1) year after its expiry date, the registration shall be deemed automatically cancelled without prejudice to the application of the appropriate sanctions under existing laws. 

This memorandum shall take effect on November 1, 1988.

Please be guided accordingly.

(SGD.) EDUARDO O. CARRASCOSO

Chairman and Chief Executive Officer