PRA RESOLUTION NO. 21, SERIES OF 1989, November 27, 1990
OPENING THE “UNSTRUCTURED ACCOUNT” INCENTIVE TO SMALLER INVESTOR-GROUPS OF MINIMUM 50 RETIREES EACH, INSTEAD OF 100, AND AMENDING FOR THE PURPOSE THE PERTINENT PRA RULES
National Administrative Register November 27, 1990
“RESOLVED: That the Board, pursuant to its
rule-making authority and in the interest of a more effective PRA
program opens the availment of the “unstructured account” treatment of
foreign exchange deposits to a smaller investor-group of a minimum 50
retirees, and for the purpose amends the definition of “Group” in
Paragraph k, Section 1 of Rule III of the PRA Rules and Regulations
(Implementing E.O. No. 1037), dated April 10, 1987, effective
immediately, to read as follows:
rule-making authority and in the interest of a more effective PRA
program opens the availment of the “unstructured account” treatment of
foreign exchange deposits to a smaller investor-group of a minimum 50
retirees, and for the purpose amends the definition of “Group” in
Paragraph k, Section 1 of Rule III of the PRA Rules and Regulations
(Implementing E.O. No. 1037), dated April 10, 1987, effective
immediately, to read as follows:
RULE III, Section 1 —
“k. GROUP — shall refer to [100] FIFTY
retirees or more who have satisfactorily complied with the requirements
of the PROGRAM and have qualified for participation in the PROGRAM.”“APPROVED.”
Adopted: 27 Nov. 1990
(SGD.) ROMEO T. TESTON
Corporate Secretary