Please be informed that the Maritime Industry Board, in its meeting on 23 November 1992, has approved an amendment of Memorandum Circular No. 25-D as regards the Classification requirement by an internationally recognized classification society.

Henceforth, all passengers, cargo-passengers, and ferry vessels already in the existing interisland fleet previously required to be classed, but not yet classed, or vessels hereinafter acquired, either by importation or bareboat charter and so required to be classed, may be classed by an internationally recognized classification society; Provided, however, that the shipowner or operator has the option to have its/his vessel, classed by a classification society accredited/recognized by the Philippine Government through the Philippine Coast Guard.

All other provisions of Memorandum Circular No. 25-D dated July 1, 1986, insofar as not inconsistent herewith, shall remain in full force and effect.

It is understood that the foregoing provisions shall not apply to acquisition of fishing vessels and tankers which shall remain governed by existing guidelines.

This Circular shall take effect immediately after its publication once in a newspaper of general circulation in the Philippines.

Adopted: 23 Nov. 1992