SEC MEMORANDUM CIRCULAR NO. 3, APRIL 29, 2002, April 29, 2002
APPLICATION FOR PRICE INCREASE
Application for price increase shall be filed with the following documents:
1. Petition;
2. Sworn Certification of a SEC accredited actuary following prescribed format:
a. that there are no changes in assumptions and plan benefits and with no trust fund violations; or
b. that
there are changes in actuarial assumptions for which an actuarial study
is submitted with the application and no trust fund violations;3. New Price Schedule;
4. Filing
fee equivalent to 1/10 of 1% of the difference in the increase in price
from previous price times the number of unsold plans.
If all requirements are complete, the same
shall be accepted and an Order approving the new price shall be prepared
within the day.
Such Order shall be published by the issuer once in a newspaper of general circulation.
For immediate compliance.
Adopted: 29 April 2002
(SGD.) LILIA R. BAUTISTA
Chairperson
Securities and Exchange Commission