MEMORANDUM CIRCULAR NO. 2016-08
Series of 2016
SUBJECT : AMENDED SCHEDULE OF REGISTRATION FEES
DATE : October 18, 2016
The Authority hereby prescribes the following Amended Schedule of Registration Fees:
Section 1.Scope – This amended Registration Fees shall be imposed for every transaction specified in Section 4, hereof consequent to the registration of cooperatives. Legal and Research Fees (LRF) shall also be imposed / collected by the Authority in the exercise of its functions and responsibilities.
Section 2. Legal Basis – This Memorandum Circular is anchored on Section 3(j) of R.A. 6939 which states that the CDA is empowered to "Impose and collect reasonable fees and charges in connection with the registration of cooperatives”.
Section 3. Purpose –Equity requires that persons receiving or benefiting from rendered services share the cost of providing such services in order to defray the necessary expenses consequent thereto.
Section 4. Schedule of Fees – The Amended Fees are indicated below:
|A. Name Reservation (pre-registration)|
|B - Initial Registration|
|The initial registration fee to be imposed shall be 1/10 of 1% of the paid-up capital or the basic fee below whichever is higher|
|b.1 Primary Co-ops||Php 500|
|b.2 Secondary Co-ops||Php 2,000|
|b.3 Tertiary Co-ops||Php 3,000|
|b.4 Laboratory Co-ops||Php 50|
|C - Amendment|
|c.1 On specific provision/s||Php300|
|c.2 By substitution||Php300|
|c.3 On increase of capital||1/10 of 1% of the increased paid-up capital|
|D. Merger||400.00 and, apply “c.3” above in case of increase in capital|
|E. Consolidation||apply “B” above, if applicable|
|F. Division||apply “B” above, if applicable|
Section 5. Legal and Research fee (LRF)-An additional LRF fee in an amount equivalent to one percent (1%) of the fee imposed but in no case lower than ten (10) pesos shall be collected on every fee for all applications for registration and amendment, petitions and complaints imposed by the Authority in the exercise and discharge of its regulatory functions.
Section 6. Repealing Clause. All previous circulars and/or guidelines issued by the Authority which are inconsistent with this Guidelines are hereby repealed or modified accordingly.
Section 7. Effectivity. This Circular shall take effect immediately upon approval hereof by the Board of Administrators and filing with the Office of National Administrative Register (ONAR).
Approved pursuant to BOA Resolution No. 361, S-2016 dated October 18, 2016.
For the Board of Administrators
(SGD) ORLANDO R. RAVANERA