New Fees for Exempt Issues Under Sec. 4(F) And Sec. 7(G) of the New Rules on Registration of Short-Term/Long-Term Commercial Papers

August 10, 1994SEC-MMOD * MEMORANDUM CIRCULAR NO. 01-94TO:All Issuers Of Exempt Commercial Papers   SUBJECT:New Fees for Exempt Issues Under Sec. 4(F) And Sec. 7(G) of the New Rules on Registration of Short-Term/Long-Term Commercial Papers Pursuant to the New Fees and Charges imposed by the Commission per SEC Memorandum Circular #2, Series of 1994 which took effect on July 1, 1994, all issuers of exempt commercial papers are now required to file an application in accordance with the prescribed forms and to pay an exemption fee, as follows:a) SHORT-TERM CPs EXEMPT UNDER SEC. 4(f):Issuers under this Section shall pay an annual fee of 1/50th of 1%, or .0002, of the amount to be issued, but in no case less than P200.00. Under this exemption, an issuer is limited to a maximum of P5,000,000.00 at any one time within 365 days from date of payment of the exemption fee. prcdb) LONG-TERM CPs EXEMPT UNDER SEC. 7(g):Issuers of commercial papers with maturities beyond 365 days shall pay an exemption fee computed at 1/20th of 1%, or .0005, of...