(NAR) VOL. III NO. 4 / OCTOBER - DECEMBER 1992
"f. that a beneficiary who avails of a stock option must first execute the necessary waiver from being a beneficiary in another stock distribution plan under this rule and/or land distribution under Section 22 of R.A. 6657, PROVIDED, HOWEVER, THAT IN MERITORIOUS CASES, THE DAR SECRETARY MAY WAIVE SUCH REQUIREMENT SUBJECT TO THE PROVISIONS ON LAND DISTRIBUTION AND/OR CEILING MANDATED BY LAW. A breach of the foregoing constitutes a willful violation of the Act."SECTION 2. This Administrative Order shall take effect (10) days after its publication in two (2) national newspapers of general circulation.