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(NAR) VOL. 17 NO. 1 / JANUARY - MARCH 2006
[ PDIC SUPPLEMENT TO REGULATORY ISSUANCE NO. 2005-03, March 01, 2006 ]
SUPPLEMENT TO REGULATORY ISSUANCE NO. 2005-03 PROVIDING THAT THE APPEAL FROM THE DECISIONS IN ADMINISTRATIVE CASES SHALL BE THROUGH RULE 43 OF THE 1997 REVISED RULES OF CIVIL PROCEDURE
To further carry out the provisions of Section 21 (g) of Republic Act No. 3591, as amended, this regulatory issuance approved by the PDIC Board of Directors on November 25, 2005, to supplement Regulatory Issuance No. 2005-03 otherwise known as PDIC Rules on Administrative Offenses, Fines and Procedure in Administrative Cases, is hereby adopted.
SECTION 1. Part II of Regulatory Issuance No. 2005-03 is supplemented by incorporating an additional section on the mode of appeal from decisions rendered in administrative cases, which shall read as follows:
Sec. 14. Appeal – Within the time and manner prescribed by Rule 43 of the 1997 Revised Rules of Civil Procedure, the party aggrieved by the decision of the PDIC Board of Directors in an administrative case may elevate the decision to the Court of Appeals.
SECTION 2. Section 14, 15, 16 and 17, PART II of Regulatory Issuance No. 2005-03 are hereby re-numbered as Sections 15, 16, 17 and 18, respectively.
SECTION 3. This supplemental regulatory issuance shall take effect fifteen (15) days after publication in a newspaper of general circulation.