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.
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