SEC Memorandum Circular No. 1 (2009)
MULTI-YEAR CAPITAL AND TRUST FUND BUILD-UP
(NAR) VOL. 20 NO.1 / JANUARY – MARCH 2009
[ SEC MEMORANDUM CIRCULAR NO. 1, SERIES OF 2009, February 25, 2009 ]
MULTI-YEAR CAPITAL AND TRUST FUND BUILD-UP
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. [*] 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.