Due to the clamor of public land transport service operators, and to eliminate superfluous transaction, this Board hereby amends Memorandum Circular 88-017, RE: REQUIREMENTS FOR PAYMENT OF ANNUAL AND SUPERVISION FEES dated July 19, 1988, AND MC 2005-005, RE: PENALTY FOR NON COMPLIANCE WITH MC NO. 88-017 dated March 1, 2005, by dispensing the submission of fleet inventories/lists of registered units annually by grantees of Certificates of Public Convenience.

All issuances inconsistent herewith are hereby superseded and amended accordingly.

This Memorandum Circular shall take effect fifteen (15) days following its publication in a newspaper of general circulation and filing of three (3) copies hereof with the UP Law Center pursuant to Presidential Memorandum Circular No. 11, dated 9 October 1992.

(SGD.) ALBERTO H. SUANSING Chairman
(SGD.) GERARDO A. PINILI Board Member	(SGD.) MA. ELLEN DIRIGE-CABATU Board Member