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MEMORANDUM CIRCULAR 2016-01
Series of 2016

TO : All Concerned
SUBJECT : AMENDMENT TO MC NO. 2010-03 ON THE GUIDELINES OF THE PAYMENT OF REGISTRATION FEES
DATE : February 15, 2016                        


The following Sections of the above-mentioned Guidelines are hereby amended to read as follows:

Section 2. Definition of Terms. The following operational definition shall be applied in this guidelines.

a. Registration Fee – refers to the assessed amount required to be paid on the registration  of  amendment  of Articles of Cooperation and By-Laws of cooperatives as prescribed by the Authority.

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Section 4.  Amount and Schedule of payment

Assessed Amount Term of Payment
100,000.00 and below Full Payment upon registration
Above 100,000.01 to 200,000.00 Payable within three (3) months
Above 200,000.01 to 300,000.00 Payable within six (6) months
Above 300,000.01 to 400,000.00 Payable within nine (9) months
Above 400,000.01 to 1,000,000.00 Payable within twelve (12) months
Above 1,000,000.00 Payable within Twenty Four (24) months

Section 5.  Effectivity – This guideline shall become effective upon its approval by the Board of Administrators and fifteen (15) days after registration with the office of the National Administrative Register (ONAR).

Approved by the  CDA Board of Administrators on February 23, 2016 per BOA Resolution No. 76,s-2016.

By the Board of Administrators:

(Sgd) ORLANDO R. RAVANERA
Chairman


RESOURCE:
pdf  MC 2016-01