It has been observed by the Board after conducting an internal audit that a substantial number of grantees of Certificates of Public Convenience are filed for confirmation beyond the period as prescribed for registration. In view thereof, the penalty of P250.00 per month shall be imposed for those who belatedly file their confirmation.

This Memorandum Circular supersedes any and all issuances inconsistent herewith, and shall be effective on January 1, 2006.

SO ORDERED.

Adopted: 02 Dec. 2005

                                   

(SGD.) MARIA ELENA H. BAUTISTA
Chairperson
(SGD.) GERARDO A. PINILI	(SGD.) MA. ELLEN DIRIGE-CABATU
Board Member	Board Member