MEMORANDUM CIRCULAR NO. 2014-01
Series of 2014
SUBJECT : REGULATORY RELIEF FOR COOPERATIVES AFFECTED BY 2013 FORTUITOUS EVENTS
DATE : 22 January 2014
Pursuant to Rule 8, Section 6 of the IRR and Article 53 of RA 9520 and due to the widespread substantial damage and death in several areas brought about by Super Typhoon Yolanda, the recent 7.2 magnitude earthquake, and public disorder in Zamboanga, there is a need to provide regulatory relief to affected cooperatives.
Section 1. TITLE. This Memorandum Circular shall be known as the “Regulatory Relief for Cooperatives Affected by 2013 Fortuitous Events”.
Section 2. COVERAGE. This Circular shall cover all affected cooperatives registered with the Authority in the following areas:
CALAMITY AREAS COVERED
Typhoon Yolanda
Region 4 – Mindoro, Palawan, Marinduque
Region 5 – Masbate
Region 6 – Iloilo, Aklan, Capiz, Antique
Region 7 – Cebu, Bohol, Negros Oriental
Region 8 – Samar Provinces, Leyte, Biliran, Southern Leyte
7.2 Magnitude Earthquake
Region 7 – Bohol, Cebu, Negros Oriental
Public Disorder
Region 9 – Zamboanga City
Section 3. REGULATORY RELIEF. All affected cooperatives shall be relieved from the following:
- Submission of Mandatory Reports
- Payment of Fines and Penalties for failure to submit the required reports on time except for those incurred prior to the occurrence of the fortuitous event.
- Submission of Requirements for the Issuance of Certificate of Good Standing for Regular Purpose except payment of Certification Fee.
Section 4. REQUIREMENTS. The following are the requirements to be submitted to the Authority for the availment of Regulatory Relief and issuance of the Certificate of Good Standing:
- Letter of application for relief in the submission of regulatory requirements signed by the Chairperson and/or the General Manager of the cooperative;
- Damage Assessment Report (Form 1); and
- Board or General Assembly Resolution requesting availment of the regulatory relief.
Section 5. FILING OF APPLICATION. All application for regulatory relief shall be filed with the Authority where the affected cooperative is registered on or before April 30, 2014.
Section 6. ROLE OF EXTENSION OFFICE. The following shall be observed in the availment of regulatory relief and securing of Certificate of Good Standing:
- Upon receipt of the documentary requirements for the availment of regulatory relief endorsed by the CDS in charge, the Supervision and Examination Unit (SEU), within three (3) days, shall validate the documents.
- Recommend to the Regional Director the approval/disapproval of the application for regulatory relief.
- Issuance of letter approving/denying the application for regulatory relief to the cooperative (Form 2a or 2b) and Certificate of Good Standing.
Section7. APPLICABILITY PERIOD. The availment of the regulatory relief shall only cover the operation of the affected cooperatives for calendar year 2013.
Section 8. INFORMATION DISSEMINATION. All concerned CDA Extension Offices shall endeavour to inform and disseminate to all cooperatives concerned within their jurisdiction.
Section 9. EFFECTIVITY. This Memorandum Circular shall take effect fifteen (15) days after its publication with the Office of National Administrative Register (ONAR).
Approved per BOA Resolution No. 339, s-2014 dated January 22, 2014.
For the Board of Administrators
(Sgd) EMMANUEL M. SANTIAGUEL, Ph.D.
Chairman
RESOURCE/S:
