GTEB MEMORANDUM 90-01, February 08, 1990

[ GTEB MEMORANDUM 90-01, February 08, 1990 ]

SUPERVISED TRANSFER SCHEME FOR 1990

The following are the guidelines for the 1990 Supervised Transfer Scheme approved by the Board in its meeting of 8 January 1990. 1. The quantity to be transferred shall be limited to the first 1,000 dozen or its equivalent, in pieces of the firms’ total EQ plus 26% of its net EQ holdings.

2. The transferor shall not be eligible to apply for EA allocation within 60 days from date of transfer under the category where the transfer was made, except for firms which transferred a maximum 3% of their EQs.

3. The quantity transferred shall be restored to the transferor in the next quota year up to the extent of the quantity performaned.

4. The transferee shall be liable to pay a monetary penalty of P0.12/SME on the unperformed quantity.

5. No import license/import authorization must have been issued against the quantities to the transferred.

6. Payment of service fee of P100 per transaction.

Further, the Board in its meeting of 25 January 1990 , approved the additional guidelines on the 1990 Supervised Transfer Scheme as follows:

7. An Export Quota holder who transfers his Export Quota for two (2) consecutive years in a particular category shall have a forfeiture net of 50% of the common quantity transferred, provided that all unperformed transferred quantities shall be forfeited.

ILLUSTRATIONS: .

I

Common quantity transferred and performed

-

400 doz

Quantity to be restored to transferor in 1991 (50%)

-

200 doz.

II

Date of Transfer

Qty. Transferred And Performed

11-06-89

500 doz.

01-11-90

1,000 doz. ____________

TOTAL

1,500 doz.

Common Quantity

-

500 doz

Forfeiture(50%)

-

250 doz.

Transfer and Performance (1990)

1,000 doz.

Less: Forfeiture

250 ___________

Restoration to transferor in 1990

750 doz.

8. A transferred quantity cannot be re-transferred but can be shifted.

9. A transferred quantity may be surrendered within 30 days from the date of transfer without monetary penalty.

This Memorandum shall take effect fifteen (15) days from the date of announcement.

Please be guided accordingly.

Adopted: 8 Feb. 1990

( SGD .) Gloria M. Arroyo

Executive Director