POLICY ON APPLICATIONS FOR MULTIPLE SALE AND TRANSFER OF CPC
this Board resolved to revise and modify policies and guidelines
regarding the process on Applications for Sale and Transfer, more
particularly on Applications for Multiple Transfer of CPC.
1. Applications for Sale and Transfer involving more than one
vendee (multiple transfer) shall not be accepted for filing effective
July 15, 2009;2. Applications for Multiple Transfer filed prior to the
effectivity as mentioned above and pending before this Board shall be
reviewed and evaluated if the parties in between the vendor and final
vendee are likewise qualified to be holders of CPC;3. Parties in between the vendor and final vendee shall be summoned
by this Board if there were no documentary proof submitted that they
are qualified to be holders of CPC;4. In case of failure of parties in between to satisfactorily
comply with the qualifications set forth by law to be a holder of CPCs,
the application filed shall be dismissed.
Accordingly, the Receiving Section of the Technical Evaluation
Division is enjoined not to accept and entertain Application for
Multiple Sale and Transfer starting the date as above-mentioned.
All issuances inconsistent herewith are hereby superseded and amended accordingly.
This Memorandum Circular shall take effect fifteen (15) days
following its publication in a newspaper of general circulation or in
Official Gazette.
Adopted: 30 June 2009
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(SGD.) ALBERTO H. SUANSING |
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(SGD.) GERARDO A. PINILI
Board Member |
(SGD.) MARIA ELLEN DIRIGE-CABATU
Board Member |