April 27, 1982
CBP MEMORANDUM
TO : All Banks
The following guidelines are hereby issued to implement the provisions of Circular No. 869 dated April 2, 1982 requiring prior Monetary Board approval of certain sales/transfers of voting stock of banks.
1. For purposes of Circular No. 869, the sale or transfer of voting stocks shall refer to sales or transfers of voting stocks which are allowed under existing laws or Central Bank rules and regulations and which have not been registered/recorded in the transfer book/stock ledger or other records of banks.
2. Banks shall submit to the Monetary Board of the Central Bank, through the appropriate supervising and examining department, not later than May 4, 1982, a list, duly certified by the corporate secretary, of all their stockholders appearing in the stock and transfer book of the bank concerned as of April 2, 1982. The list shall indicate the name of the stockholders, number and percentage of voting stocks in his name, the date when such voting stocks were registered in the name of the stockholder, and the certificate number(s)...
