LTFRB Memorandum Circular No. 2005-051
AMENDMENTS TO MC 2005-041, RE: PENALTY FOR LATE CONFIRMATION
(NAR) VOL. 16 NO. 4 / OCTOBER - DECEMBER 2005
[ LTFRB MEMORANDUM CIRCULAR NO. 2005-051, December 02, 2005 ]
AMENDMENTS TO MC 2005-041, RE: PENALTY FOR LATE CONFIRMATION
It has been observed by the Board after conducting an internal audit that a substantial number of grantees of Certificates of Public Convenience are filed for confirmation beyond the period as prescribed for registration. In view thereof, the penalty of P250.00 per month shall be imposed for those who belatedly file their confirmation. This Memorandum Circular supersedes any and all issuances inconsistent herewith, and shall be effective on January 1, 2006.
SO ORDERED.
Adopted: 02 Dec. 2005
(SGD.) MARIA ELENA H. BAUTISTA Chairperson
(SGD.) GERARDO A. PINILI (SGD.) MA. ELLEN DIRIGE-CABATU Board Member Board Member