In pursuance of the Memorandum of Agreement (MQA) entered Into by and between DA/BFAR and MARINA, which. in effect, la aimed at reconciling the requirements of said Offices appertaining to acquisition of fishing vessels vis-a-vis a moratorium on the Issuance of new Commercial Fishing Boat licenses "to reduce the ever Increasing rate of depletion of our marine resources" an additional requirement for applications to Import/ bareboat charter fishing vessels is hereby prescribed, as follows:

"Prior to the evaluation/acceptance of any application for chartering or Importation of fishing vessels, MARINA shall require the submission of a clearance from the BFAR Indicating that the vessel/owner/charterer is qualified for issuance of a new Commercial Fishing Boat license (CFBL)."

MARINA Memorandum Circular No. 34 and 34-A insofar as they are not inconsistent with this Circular shall remain in full force and effect.

This Circular shall take effect fifteen (15) days after Its publication once in a newspaper of general circulation.

Adopted: 20 Jul. 1994