SEC MEMORANDUM CIRCULAR NO. 1, SERIES OF 2009, February 25, 2009
MULTI-YEAR CAPITAL AND TRUST FUND BUILD-UP
National Administrative Register February 25, 2009
The Commission, pursuant to its authority under the
Corporation Code and Securities Regulation Code, resolved in its meeting
on 12 February 2009 that pre-need companies shall be granted an
extension of time until 15 April 2009 within which to apply for a
multi-year funding scheme, known as the Multi-year Capital and Trust Fund Build-up, for the purpose of addressing the pre-need companies’ concerns on capital and trust fund deficiencies.
Corporation Code and Securities Regulation Code, resolved in its meeting
on 12 February 2009 that pre-need companies shall be granted an
extension of time until 15 April 2009 within which to apply for a
multi-year funding scheme, known as the Multi-year Capital and Trust Fund Build-up, for the purpose of addressing the pre-need companies’ concerns on capital and trust fund deficiencies.
Attached as Annex “A”[*] hereof are the revised terms and conditions under the Multi-year Capital and Trust Fund Build-up.
This Memorandum Circular shall take effect immediately.
Adopted: 25 Feb. 2009
FOR THE COMMISSION:
(SGD.) FE B. BARIN
[*] Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.