Considering that the Two Group System mandated by Memorandum Circular No. 2001-001 dated February 1, 2001 will start on March 1, 2001, and considering further that the blacklisting scheme is merely an interim solution to the problems besetting the Personal Passenger Accident Insurance Coverage Program of the LTFRB, Memorandum Circular No. 2001-005 is hereby set aside and rendered without any force and effect effective the start of the Two-Group on March 1, 2001.

Adopted: 28 February 2001

(SGD.) DANTE M. LANTIN Chairman
(SGD.) VIGOR D. MENDOZA II Board Member	(SGD) REMEDIOS G. BELLEZA Board Member