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(NAR) VOL. 26 NO. 3/ JULY - SEPTEMBER 2015
[ OTC Memorandum Circular No. 2015-02-003, February 12, 2015 ]
GUIDING AND REMINDING DEPOSITIONS FOR THE CIRCULATED GUIDELINES ON THE ISSUANCE OF CERTIFICATE OF GOOD STANDING (CGS) TO TRANSPORT SERVICE COOPERATIVES
Date Filed: 26 August 2015
For the appropriate guidance of all transport service cooperatives intending to secure their respective CGS starting the year 2015 and to avoid confusion/misunderstanding, this memorandum circular is issued to unify the general and supplemental conditions of Memorandum Circular No. 2014-03-004 dated 03 March 2014 and Memorandum Circular No. 2014-09-012 dated 03 September 2014 –“Guidelines and supplemental conditions on the Issuance of Certificate of Good Standing (CGS) to Transport Service Cooperatives”.
In this regard, all officers of accredited transport service cooperatives (TSCs) are hereby reminded on the additional documentary requirements and other new conditions for CGS issuances, aside from the usual, as follows:
| ARTICLE/ITEM | REFERENCE | REMARKS |
| Explanation Letter/Justification Write- up for non-renewal of CGS (1 year and above the preceding current application) | Article V (Documentary Requirements), paragraph 2 and Article IX (Basis for Non- Issuance/Withdrawal of CGS) of the MC No. 2014-03-004 dated 03 March 2014 | Explanation/justification should be complete in essence presenting all needed facts and other supporting data/information |
| Summary Report on TC Members Profile | Article V (Documentary Requirements), Item F of the MC No. 2014-03-004 dated 03 March 2014 | Should be duly and completely accomplished |
| Master Plan on the TC Compliance with the required Minimum Number of “Coop-Owned” Vehicles/Units | Required under MC No. 2014- 09-012 dated 03 September 2014 (Supplemental Guidelines to MC 2014-03- 004) as additional documentary requirements | A 3-Year Plan is required for old/existing TC starting the year 2015 and ending the year 2018 A 5-year Plan is required for new TC commencing at its CDA registration date |
| Net Loss/Deficit from the Statement of Operations covering and starting calendar/fiscal year 2014 onwards | Required under MC No. 2014- 09-012 dated 03 September 2014 (Supplemental Guidelines to MC 2014-03- 004) as additional condition or basis CGS non- issuance/withdrawal. | An appeal may be issued in this case subject to further evaluation of the same and satisfying special requirements as may be required by OTC |
The above-mentioned statements are hereby emphasized in order for all TSCs to be reminded and guided on the purposes, value, and requirements of CGS to their existence and operation.
For information and guidance of all concerned.
Chairman