OTC Memorandum Circular No. 2015-02-003

(NAR) VOL. 26 NO. 3/ JULY - SEPTEMBER 2015

[ OTC Memorandum Circular No. 2015-02-003, February 12, 2015 ]

GUIDING AND REMINDING DEPOSITIONS FOR THE CIRCULATED GUIDELINES ON THE ISSUANCE OF CERTIFICATE OF GOOD STANDING (CGS) TO TRANSPORT SERVICE COOPERATIVES

Adopted: 12 February 2015 Date Filed: 26 August 2015 For the appropriate guidance of all transport service cooperatives intending to secure their respective CGS starting the year 2015 and to avoid confusion/misunderstanding, this memorandum circular is issued to unify the general and supplemental conditions of Memorandum Circular No. 2014-03-004 dated 03 March 2014 and Memorandum Circular No. 2014-09-012 dated 03 September 2014 –“Guidelines and supplemental conditions on the Issuance of Certificate of Good Standing (CGS) to Transport Service Cooperatives”. In this regard, all officers of accredited transport service cooperatives (TSCs) are hereby reminded on the additional documentary requirements and other new conditions for CGS issuances, aside from the usual, as follows: ARTICLE/ITEM REFERENCE REMARKS Explanation Article V (Documentary Explanation/justification Letter/Justification Write- up Requirements), paragraph 2 should be complete in essence for non-renewal of CGS (1 and Article IX (Basis for presenting all needed facts year and above the preceding Non- Issuance/Withdrawal of and other supporting current application) CGS) of the MC No. 2014- data/information 03-004 dated 03 March 2014 Summary Report on TC Article V (Documentary Should be duly and Members Profile Requirements), Item F of the completely accomplished MC No. 2014-03-004 dated 03 March 2014 Master Plan on the TC Required under MC No. A 3-Year Plan is required for Compliance with the required 2014- 09-012 dated 03 old/existing TC starting the Minimum Number of “Coop- September 2014 year 2015 and ending the year Owned” Vehicles/Units (Supplemental Guidelines to 2018 MC 2014-03- 004) as additional documentary A 5-year Plan is required for requirements new TC commencing at its CDA registration date Net Loss/Deficit from the Required under MC No. An appeal may be issued in Statement of Operations 2014- 09-012 dated 03 this case subject to further covering and starting September 2014 evaluation of the same andcalendar/fiscal year 2014 (Supplemental Guidelines to satisfying special onwards MC 2014-03- 004) as requirements as may be additional condition or basis required by OTC CGS non-issuance/withdrawal. The above-mentioned statements are hereby emphasized in order for all TSCs to be reminded and guided on the purposes, value, and requirements of CGS to their existence and operation. For information and guidance of all concerned.

(SGD) MELCHOR V. CAYABYAB Chairman