In order to harmonize Memorandum Circular No. 105 with the existing rules on the acquisition of vessels in the domestic trade, Item no. 1 of the said Circular is hereby amended to read as follows:

x x x

IV. SPECIAL REQUIREMENT

All vessels to be temporarily utilized in the domestic trade must comply with the following:

1. Must not be more than 15 years old from date of launching. This requirement shall not apply, however, to Philippine registered vessels, LPG carriers and vessels covered by Exemption Permits.

2. Must be classed by a recognized international classification society.

x x x

This Memorandum Circular shall take effect fifteen (15) days after its publication once in a newspaper of general circulation.

Adopted: 13 July 1995

(SGD.) PACIENCIO M. BALBON, JR.
Administrator