SRA ORDER NO. 2, September 11, 2000
PAYMENT OF SRA LIENS/FEES ON OUTSTANDING QUEDANS OF THE CURRENT CROP YEAR
mills with outstanding quedans issued during the current crop year;
NOW, THEREFORE, under and by virtue of the authority vested in the
Sugar Regulatory Administration (SRA), it is hereby ordered that:
SECTION 1. SRA liens and fees reflected in sugar
quedans issued by sugar mills for any given current crop year that
remain outstanding/unsurrendered one hundred twenty (120) days from
issuance thereof, shall be paid and remitted to the SRA by the sugar
mill concerned provided that whatever amount advanced by the sugar mill
concerned for sugar liens shall be charged to the holder of said sugar
quedans with reasonable rate of interest as may be prevailing in the
banking community.SECTION 2. The remittance of the aforementioned liens and fees to the SRA shall be on a weekly basis.
SECTION 3. This Sugar Order shall take effect immediately.
SECTION 4. Provisions of Sugar Orders, Circular
Letters, and/or other rules and regulations contrary to or inconsistent
with this Sugar Order, are hereby amended, modified or revoked
accordingly.
Adopted: 11 September 2000
(SGD.) NICOLAS A. ALONSO
Administrator