Moratorium on the Registration/Licensing of New Pre-need Plan Companies

October 13, 2000

SEC MEMORANDUM CIRCULAR NO. 03-00

TO:All Applicants Desiring to Operate a Pre-need Business
SUBJECT:Moratorium on the Registration/Licensing of New Pre-need Plan Companies

To open opportunities for small pre-need plan companies to comply with the new paid-up capital requirement of P100 million and to safeguard the interest of the planholders, the Commission has declared a moratorium on the registration/licensing of new pre-need plan companies for a period of one year from the effectivity of this circular. All applicant companies desiring to act as issuers of pre-need plans are therefore encouraged to buy out or invest as a partner in existing pre-need companies which find difficulty in complying with the increased paid-up capital of P100 million.

This circular takes effect immediately. HECaTD

EDSA, Mandaluyong City, Philippines.

(SGD.) LILIA R. BAUTISTA
Chairman
Securities and Exchange Commission

AIC Grande Tower Garnet Road
Ortigas Center, Pasig City
Metro Manila Philippines

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