In view of the quasi-judicial function of the Land Transportation Franchising and Regulatory Board where they cannot be given time limit in rendering decisions pertaining to franchise applications, Item No. 2 of MC 97-244 is hereby amended to read as follows, to wit:

œ2. The Vendee shall effect the transfer of ownership within thirty (30) days from date of filing of the notice except for FOR HIRE motor vehicles wherein the 30-day reglementary period shall begin only after receipt of the LTFRB decision by the owner. 

All orders, circulars, memoranda in conflict herewith are hereby deemed superseded.

This Memorandum Circular shall take effect immediately.

Adopted: 18 August 1999

(SGD.) BENJAMIN G. CALIMA
Assistant Secretary