MEMORANDUM CIRCULAR NO. 2014-04
Series of 2014
TO : ALL CONCERNED
SUBJECT : AMENDMENT TO MEMORANDUM CIRCULAR NO. 2013-13, Series of 2013 RE: POLICY ON THE REQUIRED OWNERSHIP OF UNITS BY TRANSPORTATION SERVICE COOPERATIVES
DATE : 16 AUGUST 2014
Upon the request of Secretary Joseph Abaya of the Department of Transportation and Communication, Section 6 of Memorandum Circular No. 2013-12 as stated above is hereby amended to read as follows:
Sec. 6. TRANSITORY PROVISION. A newly registered cooperative and those intending to include transport services as one of its business activities, are given FIVE (5) years from the date of registration/approval of amendment, within which to comply with the minimum number of cooperatively owned units/vehicles as required above.
The prescribed period for existing transportation service cooperative to comply with the preceding Section is hereby extended to another three (3) years or until February 7, 2018.
APPROVED per CDA Board Resolution No. 526, s-2014 dated August 11, 2014. Quezon City, Philippines.
For the Board of Administrators
(Sgd) EULOGIO T. CASTILLO, Ph. D.