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(NAR) VOL. 7 NO. 4 / October-December 1996

[ SRA CIRCULAR LETTER NO. 4, S. 1996-1997, October 09, 1996 ]

ADDITIONAL TRUSTEE FOR THE SUGAR MARKET DEVELOPMENT FUND (SMDF)



Subsection 3-B of Circular Letter No. 15, Series of 1991-1992, dated 23 October 1991, is hereby amended, to read as follows:
“In the case of non-affiliated planters associations/cooperatives, the same shall advise in writing the mill company concerned of their choice among this CONFED, NFSP or UNIFED as their trustee, copies furnished this Office and the CONFED, NFSP or UNIFED, as  the case, may be. If any non-affiliated planters association/cooperative  fails or refuses to advise the mill  company concerned of their choice of trustee as aforesaid within thirty (30) days from date hereof, the  Sugar Regulatory Administration shall designate which of the three (3) organizations shall be the trustee  and to which the said liens be remitted.”
This Circular Letter shall take effect immediately.

Adopted: 9 Oct. 1996

(SGD.) WILSON P. GAMBOA
Administrator
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