Please be advised that the following Board Resolution No. 95-04-75 approved by the VIDEOGRAM REGULATORY BOARD during its Regular Meeting on 24th day of April 1995 held at the Conference Room, 11th Floor Agustin I Building, Emerald Avenue, Pasig, Metro Manila was issued revising Memorandum Circular No. 07-88, to wit:

"RESOLVED, as it is hereby resolved, that Memorandum Circular No. 07-88 is revised to read as follows:

Surcharge shall be imposed on the license fees of those who renewed their licenses beyond the expiry date without being inspected by the Board's Inspection team as follows:

50%	if license is renewed within the first to the second month after expiry date;
75%	if license is renewed within the third to the sixth month after expiry date;

RESOLVED, further, that if the license is not renewed after six (6) months from expiry date, the registration shall be deemed automatically cancelled without prejudice to the imposition of a 100% surcharge for renewal and the application of other appropriate sanctions under the revised rules and regulations.

RESOLVED, finally, the a 100% surcharge shall be imposed on license fees of all video establishments who have been operating for more than one (1) month without first being registered with and licensed by the Board and those failed to renew their licenses and were inspected by the Board's Inspection team."

This shall take effect immediately.

Adopted: 29 May 1995

(SGD.) BGEN. JAVIER D. CARBONELL, AFP (RET).
Chairman and Chief Executive Officer