DISCLOSURE OF THE ULTIMATE BENEFICIAL OWNERS OF BANK SHARES HELD IN THE NAME OF PCD NOMINEE CORPORATION
National Administrative Register April 7, 2000 [ BSP CIRCULAR NO. 238, April 19, 2000 ]
The Monetary Board, in its Resolution Nos. 254 and 580 dated
February 18 and April 7, 2000, respectively, approved the amendment of
Subsection X126.2c of the Manual of Regulations for Banks relative to
the duties of the Corporate Secretary by requiring the disclosure of the
ultimate beneficial owners of bank shares held in the name of PCD
Nominee Corporation in the quarterly report on Consolidated List of
Stockholders and Their Stockholdings effective with the report as of
December 31, 1999.
February 18 and April 7, 2000, respectively, approved the amendment of
Subsection X126.2c of the Manual of Regulations for Banks relative to
the duties of the Corporate Secretary by requiring the disclosure of the
ultimate beneficial owners of bank shares held in the name of PCD
Nominee Corporation in the quarterly report on Consolidated List of
Stockholders and Their Stockholdings effective with the report as of
December 31, 1999.
The report on Consolidated List of Stockholders and Their
Stockholdings shall be made under oath by the authorized bank
officers/signatories. A violation of any provision of this Circular
shall be subject to a penalty of P30,000.00 per day until the correct
report is submitted to Bangko Sentral.
Banks which have submitted their December 31, 1999 report shall
re-submit not later than fifteen (15) banking days from date of this
Circular said report, taking into account the above requirement.
Adopted: 19 April 2000
(SGD.) RAFAEL B. BUENAVENTURA
Governor