Amendments to Foreign Exchange Regulations

Bangko Sentral ng PiliPinas

OFFICE OF THE GOVERNOR

CIRCULAR NO. 815

Series of 2013

Subject: Amendments to Foreign Exchange Regulations

1669 dated 10 October 2013, the following provisions of the Manual of Regulations Pursuant to Monetary Board Resolution Nos. 1094 dated 4 July 2013 and

on Foreign Exchange Transactions (issued under Circular No. 645 dated 13 February 2009, as amended) are further revised as follows:

"Section 3. Peso Accounts of, and Sale of Foreign Exchange to. Non-Residents

1 Peso Accounts of Non-residents. All peso deposit accounts

operating in the Philippines, shall be funded only by the following, subject to the provisions of Appendix 1.1: of non-residents, including foreign banks, opened/maintained with AABs

a. inward remittances of convertible foreign exchange3: b peso income of non-residents from, or peso sales proceeds

of, properties in the Philippines ailowed to be owned by non-residents under existing laws; onshore peso receipts of non-residents from residents for Services rendered by the former to the latter, for which the resident would have been entitled to buy foreign exchange from AABs and AAB-forex corps for remittance to the non- resident service provider; d peso receipts of expatriates working in the Philippines with

contracts of less than one (1) year representing salary/allowance/other benefits; e. onshore peso funds of: (i) foreign students enrolled for at

Ileast one semester in the Philippines; and (ii) non-resident Filipinos; and K peso proceeds from the onshore sale by non-resident

issuers of their PSE-listed equity securities4

AABs shall continue to comply with their "Know Your Customer" policy.

Refer to equity securities of non-residents primarily listed at the PSE Refer to convertible currencies indicated in the BSP reference exchange rate bulletin

A. Mabini St., Malate 1004 Manila, Phitippines * (632) 708-7701 www.bsp.gov.ph [email protected]

2. Sale of Foreign Exchange to Non-Residents

Non-residents. Depository AABs may sell foreign exchange of up to USD60,000 per day for the balance of peso deposit accounts of non-residents referred to above that are funded by Item nos. 1(b) to 1(e) of this Section without need for prior BSP approval, subject to the submission of a duly accomplished application to purchase foreign exchange using the prescribed format (Annex A).

Peso deposits funded by item no. 1(a) must have been used onshore to fund foreign direct investment/s and/or investments in eligible portfolio instruments, which are registered with BSP or custodian banks, subject to the provisions of Chapter II (Foreign Investments) hereof and

conversion to foreign exchange; otherwise, prior BSp related applicable appendices/annexes, to allow full

approval shall be required.

b. Non-resident issuers of PSE-listed equity securities.

Depository AABs may sell the equivalent foreign exchange to non-resident issuers or their authorized representative up to the amount deposited in the peso account that are funded by Item no. 1(f) upon presentation to the AAB of the original BsP letter-authority to purchase foreign exchange and submission of a duly accomplished application to purchase foreign exchange using the prescribed format (Annex A).

Non-resident issuers or their authorized representative shall submit to the BSP, through the International Operations Department (IOD), the request to purchase foreign exchange from their depository AAB, supported by the photocopies of documents listed under item no. 7 of Appendix 1.1

All remitting depository AABs shall duly accomplish and submit to the BSP-IOD a report on such remittances using the prescribed form (Annex Y) within two (2) banking days from date of actual remittance, together with a copy each of the BSP letter-authority and the duly accomplished schedule attached thereto. The repatriation of proceeds from the onshore sale of PSE-listed equity securities and remittance of interest earned, if any, shall comply with procedures in Appendix 1.2.

G Non-resident Tourists/Balikbayan. AABs and AAB-forex corps

may sell foreign exchange to non-resident tourists or balikbayan to the extent of the amount of FX shown to have been sold for pesos by the non-residents to AABs and AAB. forex corps. Departing non-resident tourists or balikbayan

Page 2 of 4

may reconvert at airports or other ports of exit unspent pesos up to a maximum of USD10,000 or its equivalent in

rates, without showing proof of previous sale of foreign other foreign currency, calculated at prevailing exchange

exchange for pesos."

"Section 37. Registration with Custodian Banks. The following non-resident investments shall be registered with the investor's designated custodian bank, on behalf of the BSP:

1 Inward foreign investments in peso-denominated

time deposits (Item nos. 1, 2 and 3, respectively of Section 35); and government securities, PSE-listed securities issued by residents, and peso

2 Investments in PsE-listed equity securities issued by non- residents.

A custodian bank may be an AAB or OBU appointed by the foreign investor to register his investments and to hold shares and other investment instruments for and in his behalf, and to represent him in all necessary actions in connection with his investments in the Philippines.

X X x

"Section 101. Reportorial Requirements. The following reports are required to be submitted to the BSP by AABs, OBUs, and AAB-forex corps, where applicable:

Title of Report Frequency/Deadline Submission Submission Procedure

A-2 G. Custodian Banks/Remitting AABs tnvestments13 Report on Registered Portfolio documents X X X withsupporting required under transaction date Within banking days two from ( softcopy [email protected], with hard to copies IOD at of

Items C.1(a) and C.2 of Appendix 1 and Appendices 10 and 11 Appendices 1, 10 and 11. required supporting documents under

A-2 Reporton Securities Non-Residents (Annex Y), with PSE-Listed Issu ed Equity by Within two (2) banking actual remittance days from date of softcopy [email protected], with hard to copies IOD at o

supporting documents required under Appendix 1.2 X X x 1.2 required under Appendix supporting documents

The report form may be downloaded at BSP website: http://www.bsp.gov.ph/downloads/Regulations/MORFXT/MORFXT-faas.zip

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The following Appendices to the FX Manual have been added/revised:

A New

1. Appendix 1.2: Procedures for Repatriation of Proceeds from the

Onshore Sale by Non-Resident Issuers of their PSE-listed Equity Securities and Remittance of Interest Earned (Attachment 1) 2 Appendix 11.1A: Guidelines on Reporting Registered Porfolio

Investments (Attachment 2) 3. Appendix 11.1B: Portfolio investment Monitoring Systems

Manual of Instructions (Attachment 3) 4 Annex Y: Report on Transactions on PSE-Listed Equity Securities

Issued by Non-Residents (Attachment 4)

B. Revised --

5. Appendix 1: Minimum Documentary Reguirements for the Sale of

Foreign Exchange by Authorized Agent Banks (AABs)/AAB-Forex Corps for Non-Trade Purposes (Attachment 5) 6. Appendix 1.1: Minimum Documentary Requirements for Peso

Deposit Accounts of Non-residents (Attachment 6) 7 Appendix 10: Procedures and Documentary Requirements for the

Registration of Inward Foreign Investments and Other Investments (Attachment 7) 8. Appendix 11: Inward Foreign Investments and Other Investments

-Procedures for Repatriation of Capital and Remittance of Dividends/ Profits/Earnings (Attachment 8)

Repealing Clause. This Circular supersedes/amends/modifies the provisions of existing circulars, memoranda and/or other regulations that are inconsistent herewith.

either in the Official Gazette or in a newspaper of general circulation in the Philippines. Effectivity. This Circular shall take effect 15 calendar days after its publication

FOR THE MONETARY BOARD:

$mt DIWAC. Officer-In-Charge GUINIGUNDO

/8 October 2013

Page 4 of 4

"Attachment 1"

APPENDIX 1.2 (Pursuant to Circular No. 815 dated 18 October 2013)

Procedures for Repatriation of Proceeds from the Onshore Sale by Non-Resident Issuers of their PSE-listed Equity Securities and Remittance of Interest Earned1

The following procedures shall cover the repatriation of proceeds from the onshore sale of PsE-listed equity securities issued by non-residents covered by

proceeds: Sections 3.1.f and 3.2.b of the FX Manual, as well as any interest earnings on such

Repatriation of Funds

The repatriation of such sales proceeds as well as remittance of related interest

depository bank where the peso account of non-residents issuer is maintained. The same bank shall also be the foreign exchange (FX) selling bank provided the earned, if any, may be effected without prior BSP approval, but only through the

original BSP letter-authority to purchase FX is presented prior to sale of FX.

letter-authority to purchase FX for every FX sale and remittance made, and have All depository remitting AABs shall accomplish the schedule attached to the BSP

same signed by the bank's authorized officer.

bank to the non-resident's account (whether onshore or offshore). The FX purchased from depository AABs shall be directly remitted by the same

Reporting Requirements

All depository AABs shall submit to the BSP-IOD a report on such remittances using the prescribed form (Annex Y) within two (2) banking days from date of actual remittance, together with a copy each of the BSP-letter authority and the duly accomplished schedule attached thereto.

Pertains to interest earned on the peso deposit of the non-resident issuer of equity shares, funded by proceeds from the onshore sale of the non-resident's PSE-listed equity securities

"Attachment 2"

(Pursuant to Circular No. 815 dated 18 October 2013) APPENDIX 11.1A

Guidelines on Reporting Registered Portfolio Investments

electronically to the BSP-International Operations Department (IOD) the "Report on Registered Portfolio Investments" reflecting all portfolio investment transactions! All remitting authorized agent banks (AABs) shall duly accomplish and submit

Coverage

registered with custodian banks, as follows: The report shall include all transactions on portfolio investments which are

1. Foreign investments in peso-denominated government securities

PSE-listed securities issued by residents, and peso time deposits with tenor of at least 90 days as described in items 1, 2, and 3 under Section 35 of the Manual; and

2. Non-resident investments in PSE-listed equity securities issued by

non-residents.

Guidelines

The following are the guidelines for accomplishing the report:

1. All remitting AABs (whether or not they sold the foreign exchange) shall

form "Report on Registered Portfolio Investments"1. The report shall be submitted supporting documents listed under Appendices 1, 10 and 11, within two (2) banking days from transaction date. in accomplishing the report, AABs shall be guided by to the BSP-IOD in soft copy at [email protected], together with hard copy of report all transactions on registered portfolio investments using the prescribed

investments funded by inward remittances of foreign exchange, the soft copy report shall be supported by a scanned copy of the Certificate of Inward Remittance (CIR). the Manual of Instructions in Appendix 11.1B. In reporting the registration of

2. An officer of the remitting AAB with the rank of at least Assistant Vice-President or equivalent rank shall certify the veracity and accuracy of the report.

3. BSP-IOD will accept no responsibility for electronic messages/reports/ information that may be hacked or cracked, intercepted, copied or disclosed outside BSP's information system.

1 Posted at the BSP website

"Attachment 3"

(Pursuant to Circular No. 815 dated 18 October 2013) APPENDIX 11.1B Page 1 of 30

PORTFOLIO INVESTMENT

MONITORING SYSTEM

Manual of Instructions

"Attachment 3"

(Pursuant to Circular No. 815 dated 18 October 2013) APPENDIX 11.1B Page 2 of 30

Bangko Sentral ng Pilipinas - International Operations Department (BSP-IOD) Report on Registered Portfolio Investments to. be submitted to the This Manual provides the guidelines for AABs in accomplishing the Report on Registered Portfolio Investments

Deadline for Submission to BSP-IOD:

Two (2) banking days from actual remittance date IOD FORM 1b - Changes in Existing Registered Investments: IOD FORM 1a - Initial Registration: Two (2) banking days from registration date Two (2) banking days from registration date IOD FORM 1c - Repatriation:

Acronyms:

IR PDTC FX IPD IPO PSE TBIL TBOND TD BSRD BSRDLA CIR CN COP COS CP FCY FXTN GDR GS Interim Peso Deposit Initial Public Offering Treasury Bilt Global Depository Receipt Government Securities Inward Remittance Philippine Depository and Trust Corporation Philippine Stock Exchange Treasury Bond Time Deposit Bangko Sentral Registration Document Confirmation of Purchase Commercial Paper Foreign Currency Foreign Exchange FX Treasury Notes BSRD Letter Advice Certificate of Inward Remittance Convertible Note Confirmation of Sale

Contact Unit for the Report:

Queries about the report may be addressed to:

International Operations Group III International Operations Department Bangko Sentral ng Pilipinas Room 301, 5-Storey Bldg. Mabini corner P. Ocampo Sts., Manila Tel. Nos.: 708-7105: 708-7110

Lotus Notes e-mail Address: [email protected] FAX No.: 708-7485

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 3 of 30

1. INSTRUCTIONS FOR INDIVIDUAL DATA FIELDS Report on Registered Portfolio Investments

up as follows: The report shall follow the file structure attached hereto. Individual fields shall be filled

The numeric sequential order of a transaction. 1 Transaction No

2. The date when report is submitted to BSP-IOD. is standard for all date fields in the report. Field format is ccyymmdd (e.g., 03-April-2001 will be indicated as 20010403). The same format Reporting Date

3 The bank acronym used by the reporting bank for all their transactions with the BSP Reporting Bank

4. BSRD No. The pre-assigned number of the BSRD covering registered investments and under which all subsequent transactions shall be recorded. Field format shall be as foliows:

1. Foreign investments under item nos. 1-3 of Investments Annnnnn-bbbb Field format

Non-resident investments in PSE-listed equity Section 35 of the Manual of Regulations on Foreign Exchange Transactions (FX Manual) Annnnnn-bbbbNR securities issued by non-residents 3. Investment in item nos. 1 and 2 above by Annnnnn-bbbbP

non-resident issuer of peso proceeds from PSE- listed eguity securities

for "non-resident" and pertains to the BSRD of foreign' investors who invested in the custodian bank, "bbbb" is the numeric code assigned by the BSP to the custodian bank of the account(e.g., Citibank's BSRD number A007001 will be displayed as A007001-0080); "NR" stands PSE-listed equity securities issued by non-residents; and, "p" stands for "peso proceeds from onshore sale by non-resident issuers of their PSE-listed shares" and pertains to the BSRD covering investment of peso proceeds from such sale. Where, "Annnnnn" is the pre-assigned BsRD number for the foreign investor's account with

5. Transaction Code

Classify according to the following transaction codes:

A. Initial Registration

101.0 - Pertains to the registration of new accounts funded by an IR of FX.

101.1 - Pertains to the original registration of new accounts arising from IPo funded by IR of FX.

101.2 of GDRs to common shares. Pertains to the registration of new investments arising from conversion

102.0 bank. Pertains to the registration of new investments funded by sales proceeds of investments covered by BSRD issued by another custodian

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 4 of 30

Report on Registered Portfolio Investments

103.0 - Pertains to the registration of new investments funded by cash dividends accruing to investment covered by a BSRD issued by another custodian bank.

104.0 - existing BSRD issued by another custodian bank. Pertains to the registration of new investments transferred from an

104.3 Pertains to the registration of new investments transferred from a BSRD for a direct equity investment to a BSRD for a portfolio investment.

105.0 BSRD in the BSP-prescribed format. Pertains to consolidation into or replacements of old BSRD/s with new

106.0 - Pertains to the registration of new investments funded by IPDs transferred from an existing BSRD issued by another custodian bank

B. Changes in Existing Registered Investments

201.0 Registration of additional investments funded by iR of FX.

201.1 FX Registration of additional investments arising from IPO funded by IR of

201.2 Registration of additional investments arising from follow-on offerings funded by iR of FX.

202.0 - Registration of additional investments funded by sales proceeds from registered investments (reinvestment).

203.0 - Registration of additional investments funded by cash dividends accruing to registered investments.

204.0 Registration of additional investments funded by IPDs.

205.0 - Registration of stock dividends accruing to registered investments

206.0 with the same custodian bank. Registration of transfers of investments from one BSRD to another BSRD

207.0 - Registration of transfers of investments from an existing BSRD of another custodian bank to the BSRD issued by the reporting bank

208.0 Registration of stock rights funded by IR.

208.1 Registration of stock rights funded by sales proceeds from registered investments.

208.2 - Registration of stock rights funded by cash dividends accruing to registered investments.

208.3 Registration of stock rights funded by IPDs.

209.0 - Registration of stock splits.

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 5 of 30

210.0 - Registration of reverse stock splits. Report on Registered Portfolio Investments

211.0 - Peso sales proceeds of registered investments (PSE listed securities and and other peso-denominated debt instruments) deposited government securities, peso time deposits with at least 90-day maturity tc

IPD.

212.0 - Cash dividends and interest income accruing to registered investments

deposited in IPDs.

213.0 Registration of stock warrants.

213.1 - Registration of stock warrants funded by IR.

213.2 - Registration of stock warrants funded by peso saies proceeds from registered investments.

213.3 Registration of stock warrants funded by cash dividends accruing to registered investments.

213.4 Registration of stock warrants funded by IPDs.

214.0 - Registration of property dividends.

215.0 - Registration of additional investments due to conversion of GDRs to common shares.

216.0 - direct equity investment to a BSRD for a portfolio investment. Registration of additional investments transferred from BSRD for a

217.0 Roli-over of registered peso time deposits (TD)

C. Repatriation

301.0 Outward remittance of IPDs.

302.0 - Outward remittance of sales proceeds from registered investments in PSE-listed securities.

303.0 - Outward remittance of cash dividends, earnings and interest accruing to registered investments.

304.0 investments in peso time deposits. Outward remittance of peso maturity proceeds of registered

305.0 - Outward remittance of peso proceeds of registered investments in peso-denominated government securities.

306.0 - Outward remittance of peso proceeds of registered investments in other peso-denominated debt instruments.

307.0 Outward remittance of cash proceeds of property dividends.

310.0 - prior to March 15, 1973. Outward remittance of sales proceeds of foreign investments made

311.0 - Outward remittance of onshore sales proceeds of securities issued by

APPENDIX 11.1B "Attachment 3"

(Pursuant to Circular No. 815 dated 18 October 2013) Page 6 of 30

multilateral institutions in the Philippines. Report on Registered Portfolio Investments

312.0 Outward remittance of excess FX funding for portfolio investments.

D. Decrease Transactions

401.1 - Reinvestment of sales proceeds from investments in PSE-listed securities, or the issuance of a BSRDLA covering the transfer of the sales proceeds of the investment to another custodian bank.

401.2 - securities. Receipt of the BSRDLA covering the transfer from another custodian bank of sales proceeds from registered investments in PSE-listed

402.1 Issuance of a BSRDLA covering the transfer of PSE-listed shares to another custodian bank.

402.2 another custodian bank. Receipt of the BSRDLA covering the transfer of PSE-listed shares to

402.3 - BSP-prescribed form Consolidation into or replacement of old BSRD/s with new BSRD in

403.1 - Details of the mother(original) shares entitled to cash dividends, earnings and interest accruing to registered: investments, or the issuance of a BSRDLA covering the transfer of the dividends, earnings and interest to another custodian bank(for monitoring/verification purposes only).

403.2 - Receipt of the BSRDLA [which includes the details of the mother {original} shares] covering the transfer of cash dividends, earnings and interest accruing to registered investments.

404.1 - Issuance of a BSRDLA covering the: a) transfer/reinvestment of peso proceeds of registered investments in time deposits, government b) withdrawal from IPDs. securities, and other peso-denominated debt instruments; or

404.2 - Receipt of the BSRDLA covering the: a) transfer/ reinvestment of peso proceeds of registered investments in time deposits, government securities, and other peso-denominated debt instruments; or b) withdrawal from tPDs.

405.0 - Reduction in the number of shares as a result of a corporate action/event.

406.0 - Outstanding shares entitled to a bonus warrant.

407.0 Property dividend accruing to registered investments including the details of the mother (original) shares.

408.0 Interest on IPDs.

409.0 - Transfer of investment from direct equity BSRD to portfolio BSRD

"Attachment 3"

(Pursuant to Circular No. 815 dated 18 October 2013) APPENDIX 11.18 Page 7 of 30

Report on Registered Portfolio Investments

410.0 - Conversion of GDRsto common shares

413.0 - Conversion of Convertible Notes (CN) to common shares

For Registrations: The country code of the investor where the latter is operating. 6. Country Code / Country Where Remitted

For Outward Remittances: The code of the country where the funds were actually remitted. Please refer to reference libraries incorporated in the template.

7 Investment iD The alpha code/stock symbol of the security assigned by the Philippine Stock Exchange (PSE) which will be the only acceptable standard. Use standard market codes for fixed income private Securities (e.g., CP + PSE Stock Symbol of the Security -- CP-ALI). For government securities, use interim peso deposits, use IPD. applicable codes like TBIL, FXTN, TBOND. For 90-day peso bank time deposits, use TD, and for

The settlement date of the securities transaction, whether purchase or sale. 8. Settiement Date / Record Date

In the case of corporate action events (e.g., Cash Dividend, Stock Dividend, Stock Rights, etc.), entitled to participate in or avail of the corporate action event. For transfer transactions, use the date of BSRD letter advice. use the record date or ex-date of the event. The record date or the ex-date (the date wherein the security trades without its dividend) of the event determines the number of mother shares

9. CIR No. (Note: Please assign one unique CIR number for every conversion to PHP of inward

Field format is CCYY-NNNNN-BBBB where: The bank-assigned number for the CiR covering the FX inward remittance. CCYY -- is the year the CIR is issued. NNNNN -- is the series number of the CIR BBBB -- is the BSP assigned numeric bank code FX remittance received)

10. Telegraphic Transfer Reference Number Contains the bank's unique reference number for the particular FX remittance. Length should not exceed 50 characters

Conversion Date of an inward remittance isthe actual date when conversion of foreign currency 11. Conversion Date / Actual Remittance Date

Actual Remittance Date is the date when FX was outward remitted. to local currency was executed.

For registrations: The standard currency code of the original foreign currency that funded the 12. Foreign Currency Symbol

investment.

For remittances: The standard currency code of the foreign currency that was sold to the Please refer to reference libraries incorporated in the template. investor/s for repatriation of capital/remittance of earnings

13. Amount - Foreign Currency For registrations: The actual foreign currency amount in original currency that was converted to peso to fund an investment. repatriation/remittance of earnings. For remittances: The amount of FCY sold to the investor/s for capital

"Attachment 3"

(Pursuant to Circular No. 815 dated 18 October 2013) APPENDIX 11.1B Page 8 of 30

Report on Registered Portfolio Investments

14. Amount - US $Equivalent For FCY funding other than US$, the US$ equivalent of the FCY is derived by dividing The US$ equivalent of original FCY which funded the investment. the FCY's peso proceeds by the Bank's rate on conversion date. If funding was in US$, refers to the actual Us$ amount purchased against net peso proceeds of the divestments/-earnings remitted outward.

15. Converting Bank

This field is used for registration purposes only. The bank acronym of the local bank that converted the FX inward remittance for investment.

16. FX Rate

For Registration: The exchange rate used by the converting bank for conversion of FX to pesos. For Remittance: The exchange rate used to convert pesos to FX.

17. Dividend Rate / Split Ratio Used

Dividend Rate: a. Applies to both cash and stock dividend transactions. c. The rate is expressed in decimal (e.g., for stock dividends: 25% is expressed as b. This is the rate announced by the company which declared the dividends. 0.250000 and 100% is expressed as 1.000000; for cash dividends: Php0.25 per share is expressed as 0.250000). Split Ratio: a. Applies to both stock splits and reverse stock splits.

Field value is in six decimal places. c. The rate is expressed using the mother shares as the base (e.g., 1:2 split is b. This is the rate announced by the investee company. is expressed as 0.250000). expressed as 2.000000; a 1:1.5 split is expressed as 1.500000; a 1:0.25 reverse split

18. No. of Mother Shares The outstanding balance of the shares on record date that is entitled to a corporate Note: The ex-date is used as the reckoning date for entitlement computation. The action event (Cash Dividend, Stock Dividend, Stock Split, etc). seller is entitled to the dividend if the shares are sold on or after the ex-date.

19. Increase -- No. of Shares / Face Value / Maturity Value

For Non-Corporate Action Registrations: 2 The corresponding number of shares of a particular security that the investor

For Corporate Action Registrations: D Stock/Property Dividends: additionally acquired.

D the stock/property dividends. Stock Warrants: The additional number of shares earned by the investor/s' portfolio as a result of

The number of stock warrants given as a bonus to stockholders based on outstanding shareholdings. For Stock Splits: C The new balance of the security in the investor/s' portfolio as a result of the event

which is derived by multiplying the rate in Column 16 with the no. of mother shares in Column 17 of IOD Form 1b.

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 9 of 30

Report on Registered Portfolio Investments For Reverse Stock Splits: The new balance of the security in the investor/s' portfolio as a result of the event which is derived by multiplying the rate in Column 16 with the no. of mother

shares in Column 17 of iOD Form 1b. Face Value The amount of Gs/other peso-denominated debt instruments acquired.

Maturity Value The additional amount of Peso Time Deposits

20. For Stock Rights The additional number of shares acquired by the investor via exercise of stock rights or by additional subscriptions.

21. Increase -- Peso Proceeds

For registrations funded by IR, sale of security/ies and cash dividend: The amount paid for by the investor/s to acquire the investment.

For IPD to registered investments. (While awaiting repatriation, sales proceeds of duly indicate a conversion of proceeds to IPD. corresponding entry in the Decrease - Peso Proceeds (Column 18) column to The amount transferred/credited to the IPD account from sales proceeds accruing registered investments may be placed in IPD). This type of registration requires a

22. Decrease -- No. of Shares / Face Value/ Maturity Value The number of shares that have been sold by the investor/s or transferred out. The number of mother shares/base shares which will be zeroed-out as a result of a instruments that was repatriated. The maturity/pre-terminated sales value of the GS/TD/other peso-denominated debt stock split.

23. Decrease - Peso Proceeds Proceeds from sale of securities which funded the switch transaction/s.

Net cash dividends which funded the additional investments

For outward remittances -- The net peso proceeds from sale of investment/s for Interim Peso Deposits - The amount of IPD utilized to purchase additiona! investment/s, transferred to another account within a bank or to another custodian bank. repatriation or dividend income (net of applicable taxes) converted to foreign currency for remittance. Settlement amount of GS/TD/other peso-denominated debt instruments that matured or was sold and repatriated or reinvested

24. International Securities Identification Number/Certificate of Time Deposit (CTD) enterprise is registered and "nnnnBnnnn" is the internationally assigned identification number for the securities. For CTD - Number assigned by the bank for placement in peso time deposits. Field format is AAAnnnnnnnn where "AAA" is the abbreviation of the country where the

25. Registration Date format is applicable for all date fields in the report. Field format is ccyymmdd (e.g., 03-April-2001 will be indicated as 20010403). The same

26. Maturity Date

The date when GS/TD/other peso-denominated debt instruments will mature

(Pursuant to Circular No. 815 dated 18 October 2013) APPENDIX 11.1B "Attachment 3" Page 10 of 30

Report on Registered Portfolio Investments

HI. DOCUMENTATION AND REGISTRATION PROCEDURE

registration of investments and repatriation of capital/sales proceeds and cash dividend/ interest/earnings. Additional requirements as applicable are as follows: Please refer to Appendix 10 of the FX Manual for the documentary requirements for

A.Initial Registration (IOD Form 1a)

1 Investments funded by an IR (Trans. Codes 101.0 and 101.1)

a. Accomplish new BSRD form and submit the duplicate of the BSRD to BSP-IOD b Use a single line where the following details shall be indicated under the corresponding columns of the report template:

(4) Transaction Code (3) BSRD No. (5) Country Code (6) Investment ID (7) Settlement/Record Date (9) Telegraphic Transfer Ref. No. (8) CIR No (10) Conversion Date

(14) Converting Bank (13) Amount (US$ Equivalent) (18) Increase in No. of Shares/Face Value/Maturity Value (19) increase in Peso Proceeds (11) FCY Symbol (12) Amount in FCY (if original currency is not US dollar) (15) FX Rate

(22) International Securities Identification Number/Certificate of Time Deposit (23) Registration Date (24) Maturity Date

investments arising from conversion of GDRs to common shares (Trans code 1o1.2)

a. Accomplish new BSRD form and submit the duplicate of the BSRD to BSP-IOD. b. Obtain the applicable BSRDLA from another custodian bank if the transfer of peso

proceeds is used to fund the creation of the new account. If funded by tR, fill up two consecutive lines on the report as follows:

The first line should contain the following details of the common shares under the corresponding columns of the report template:

{3} BSRD No (4) Transaction Code (5) Country Code (6) Investment ID (7) Settlement/Record Date (9) Telegraphic Transfer Ref. No. (12) Amount in FCY (if original currency is not US dollar) (13) Amount (US$ Equivalent) (14) Converting Bank (8) CIR No (10) Conversion Date (11) FCY Symbol

"Attachment 3"

(Pursuant to Circular No. 815 dated 18 October 2013) APPENDIX 11.1B Page 11 of 30

(18) Increase in No. of Shares/Face Value/Maturity Value (22) International Securities Identification Number/Certificate of Time Deposit (23) Registration Date (15) FX Rate (19) Increase in Peso Proceeds Report on Registered Portfolio Investments

The second line should contain the following details of the source BSRD covering the GDR (use code 410) under the corresponding columns of the report template:

(20) Decrease in No. Of Shares/Face Value/Maturity Value (3) BSRD No. (4) Transaction Code (6) Investment ID (7) Settlement/Record Date

d. If funded by Interim Peso Deposits (IPD), fill up three consecutive lines of the report as follows:

The first line should contain the following details of the common shares under the corresponding columns of the report template: (4) Transaction Code (18) Increase in No. of Shares/Face Value/Maturity Value (23) Registration Date (5) Country Code {6} investment ID (7) Settlement/Record Date (19) Increase in Peso Proceeds (22) International Securities Identification Number/Certificate of Time Deposit (3) BSRD No.

The second line should contain the following details of the IPD that funded the report template: conversion (use code 404.1 or 404.2) under the corresponding columns of the

(6) investment ID (3) BSRD No. (4) Transaction Code (7) Settlement/Record Date (21) Decrease in Peso Proceeds

The third line should contain the following details of the source BSRD covering the GDR (use code 410) under the corresponding columns of the report template:

{4} Transaction Code (6) Investment ID (20) Decrease in No. Of Shares/Face Value/Maturity Value (3) BSRD No. (7) Settiement/Record Date

3. Investments funded by Sales Proceeds (Trans. Codes_102.0)

b. Accomplish new BSRD form and submit the duplicate of the BSRD to BSP-IOD Obtain the applicable BSRDLA from another custodian bank if the transfer of peso

proceeds or shares will fund the creation of the new account.

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 12 of 30

C Fill up two consecutive lines on the report and provide the following details under Report on Registered Portfolio Investments

the corresponiding columns of the report template:

The first line should contain the following details on the new investment under the corresponding columns of the report template:

(6) Investment ID (7) Settlement/Record Date (4) Transaction Code (5) Country Code (18) Increase in No. of Shares/Face Value/Maturity Value (24) Maturity Date (3) BSRD No (19) Increase in Peso Proceeds (22) International Securities Identification Number/Certificate of Time Deposit (23) Registration Date

The second line should contain the following details of the source BSRD covering the securities sold which funded the new investment (use code 401.1 or 401.2) under the corresponding columns of the report template:

(5) Country Code (22) International Securities Identification Number/Certificate of Time Deposit (4) Transaction Code (6) Investment ID (7) Settlement/Record Date (20) Decrease in No. Of Shares/Face Value/Maturity Value (21) Decrease in Peso Proceeds (3) BSRD No.

d If multiple sales proceeds funded the investment, replicate the second line and

provide the corresponding details for each transaction to show that total sales proceeds (Column 21) equals the investment amount (Column 19)

Investments Funded By Cash Dividends/Interest Income (Trans. Code 103.0)

b. : Accomplish new BSRD form and submit the duplicate of the BSRD to BSP-IOD Obtain the applicable BSRDLA from another custodian bank if the transfer of peso

C Fill up two consecutive lines on the report and provide the following details under proceeds is used to fund the creation of the new account

the corresponding columns of the report template.

the corresponding columns of the report template: The first line should contain the following details on the new investment under

(24) Maturity Date (4) Transaction Code {3) BSRD No (5) Country Code (6) Investment ID (7) Settlement/Record Date (19) Increase in Peso Proceeds (22) International Securities Identification Number/Certificate of Time Deposit (23) Registration Date (18) Increase in No. of Shares/Face Value/Maturity Value

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 13 of 30

Report on Registered Portfolio Investments

The second line should contain the following details of the mother shares entitled to the cash dividend/interest income (use code 403.1 or 403.2) under the corresponding columns of the report template:

(16) Dividend Rate (4) Transaction Code (7) Settlement/Record Date (3) BSRD No. (6) Investment ID

(21) Decrease in Peso Proceeds (17) No. of Mother Shares

If multiple cash dividend proceeds funded the investment, replicate the second line for each cash dividend and provide the corresponding details for each transaction amount (Column 19). to show that total cash dividend proceeds (Column 21) equals the investment

5 Registration of Transfers (Trans. Codes 104.0 104.3 and 105.0) - The codes are used

for registration of investments arising from the following transactions:

105.0 -- consolidation/replacements of old BSRDs into the new BSP-prescribed 104.0 -- transfer from one custodian bank to another 104.3 -- transfer from direct equity investment to portfolio BSRD form

b. Accomplish new BSRD form and submit the duplicate of the BSRD to BSP-IOD Obtain the applicable BSRDLA from the custodian bank which originally maintained

Fill up two consecutive lines on the report and provide the following details under the account. the corresponding columns of the report template:

The first line should contain the following details on the new investment under the corresponding columns of the report template:

(4) Transaction Code (23) Registration Date (5) Country Code (6) Investment ID (7) Settlement/Record Date (18) Increase in No. of Shares/Face Value/Maturity Value (22) International Securities Identification Number/Certificate of Time Deposit (3) BSRD No

The second line should contain the following details on the original holdings or report template: shares (use code 402.1 or 402.2) under the.corresponding columns of the

(4) Transaction Code (6) Investment ID (7) Settlement/Record Date (3) BSRD No. (20) Decrease in No. Of Shares/Face Vaiue/Maturity Value

6.Investments funded by IPD (Trans. Codes 106.0)

a. Accomplish new BSRD form and submit the duplicate of the BSRD to BSP-IOD.

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 14 of 30

b. Obtain the applicable BSRDLA if a transfer of funds from IPD is used to support the creation of the new account. Fill up two consecutive lines on the report and provide the following details in the corresponding columns of the report template: Report on Registered Portfolio Investments

The first line should contain the following details on the new investment under the corresponding columns of the report template:

(3) 8SRD No. (4) Transaction Code (6) Investment ID (18) Increase in No. of Shares/Face Value/Maturity Value (22) International Securities Identification Number/Certificate of Time Deposit (24) Maturity Date (5) Country Code (7) Settlement/Record Date (19) Increase in Peso Proceeds (23) Registration Date

The second line should contain the following details of the source BSRD covering the IPD which funded the purchase of the new investment (use code 404.1 or 404.2)

(3) BSRD No. (4) Transaction Code (6) Investment ID (7) Settlement/Record Date (21) Decrease in Peso Proceeds

d. If multiple IPDs funded the investment, replicate the second line and provide the corresponding details for each IPD transaction to show that totai IPD withdrawals

(Column 21) equals the investment amount (Column 19)

B. Changes on Existing Registered Investments (IOD-PID Form 1b)

1 Additional investments funded by an IR of FX (Trans. Code 201.0 201.1 and 201.2)

a Use a single line and provide the following details under the corresponding

columns of the report template:

(11) Amount in FCY (if original currency is not US dollar) (5) Investment ID (13) Converting Bank (4) Transaction Code (6) Settlement/Record Date (8) Telegraphic Transfer Ref. No (9) Conversion Date (12) Amount (US$ Equivalent) (3) BSRD No (7) CIR No. (10} FCY Symbol (14) FX Rate (17) Increase in No. of Shares/Face Value/Maturity Value (18) Increase in Peso Proceeds

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 15 of 30

(21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date (23) Maturity Date Report on Registered Portfolio Investments

2 Additional investments funded by sales proceeds (Trans. Code 202.0)

a. Obtain the applicable BSRDLA if a transfer of funds between custodian banks is used to fund the additional investment.

b. Fill up two consecutive lines on the report and provide the following details in the corresponding columns of the report template:

The first line should contain the following details on the additional investment under the corresponding columns of the report template:

(22) Registration Date (23) Maturity Date (3) BSRD No. (4) Transaction Code {5} Investment ID (6) Settlement/Record Date (17) Increase in No. of Shares/Face Value/Maturity Value (18) Increase in Peso Proceeds (21) International Securities Identification Number/Certificate of Time Deposit

The second line should contain the following details of the source BSRD covering the sales proceeds which funded the purchase of the additional investment (use code 401.1 or 401.2)under the corresponding columns of the report template:

(4) Transaction Code (5) Investment ID (6) Settlement/Record Date (19) Decrease in No. Of Shares/Face Value/Maturity Value (20) Decrease in Peso Proceeds (3) BSRD No.

(21) International Securities Identification Number/Certificate of Time Deposit

If multiple sales proceeds funded the investment, replicate the second line and provide the corresponding details for each sale transaction to show that total sales proceeds (Column 20) equals the investment amount (Column 18).

3.Additional investments funded by cash dividend/interest income (Trans. Code 203.0)

a. Obtain the applicable BSRDLA if a transfer of funds between custodian banks is

b. Fill up two consecutive lines on the report and provide the following details in the used to fund the additional investment.

corresponding columns of the report template:

The first line should contain the following details on the additional investment under the corresponding columns of the report template:

(4) Transaction Code (5) Investment ID (3) BSRD No

(17) Increase in No. of Shares/Face Value/Maturity Value 6) Settlement/Record Date

"Attachment 3"

{Pursuant to Circular No. 815 dated 18 October 2013) APPENDIX 11.1B Page 16 of 30

(21) International Securities Identification Number/Certificate of Time Deposit (18) Increase in Peso Proceeds (22) Registration Date (23) Maturity Date Report on Registered Portfolio Investments

The second line should contain the following details of the mother shares entitled to the cash dividend/interest income (use code 403.1 or 403.2)under the corresponding columns of the report template:

(3) BSRD No. (4) Transaction Code (5) Investment ID (6) Settlement/Record Date (15) Dividend Rate/Ratio (16) No. of Mother Shares (20) Decrease in Peso Proceeds

C If multiple cash dividend proceeds funded the investment, replicate the second line to show that total cash dividend proceeds (Column 20) equal the purchase amount for each cash dividend and provide the corresponding details for each transaction (Column 18)

4 Investments in Securities Funded by IPD (Trans. Code 204.0)

a. Obtain the applicable BSRDLA if a transfer of funds between custodian banks is

b. Fill up two consecutive lines on the report and provide the following details in the used to fund the additional investment.

corresponding columns of the report template:

The first line should contain the following details on the additional investment under the corresponding columns of the report template:

{4} Transaction Code (5) Investment ID (23) Maturity Date {3} BSRD No. (6) Settlement/Record Date (17) Increase in No. of Shares/Face Value/Maturity Value (18) Increase in Peso Proceeds (21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date

The second line should contain the following details of the source BSRD 404.1 or 404.2). covering the IPD which funded the purchase of the new investment (use code

(3) BSRD No. (4) Transaction Code (5) Investment ID (6) Settlement/Record Date (20) Decrease in Peso Proceeds

C If multiple IPDs funded the investment, replicate the second line and provide the

corresponding details for each IPD transaction to show that total IPD withdrawals (Column 20) equals the investment amount (Column 18).

"Attachment 3" APPENDIX 11.1B

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Report on Registered Portfolio Investments

5. Registration of Stock Dividends (Trans. Code 205.0)

a. Use a single line and provide the following details under the corresponding

columns of the report template:

(3) BSRD No.

(5) Investment ID (17) Increase in No. of Shares/Face Value/Maturity Value (4) Transaction Code (6) Settlement/Record Date (15) Dividend Rate/Ratio (16) No. of Mother Shares (21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date

6. Registration of Transfers (Trans. Codes 206.0._and 207.0).The codes are used when

registered portfolio are transferred from one investor to another using the same or another custodian bank.

b Obtain the applicable BSRDLA if a transfer of funds between custodian banks is Fill up two consecutive lines on the report and provide the following details in the used to fund the additional investment.

corresponding columns of the report template:

The first line should contain the following details on the additional investment under the corresponding columns of the report template:

(4) Transaction Code (3) BSRD No (5) Investment ID (6) Settlement/Record Date (17) increase in No. of Shares/Face Value/Maturity Value 21) International Securities Identification Number/Certificate of Time Deposit

(23) Maturity Date 22) Registration Date

The second line should contain the following details on the original holdings o shares (use code 402.1 or 402.2) under the corresponding columns of the report template:

(19) Decrease in No. Of Shares/Face Value/Maturity Value {4) Transaction Code ({5) Investment ID (6) Settlement/Record Date {3} BSRD No

7 Registration of Stock Rights (Trans. Codes 208.0 to 208.3)

Code 208.0 - Funded by IR

a. Use a single line and provide the following details under the corresponding

columns of the report template:

{5} Investment ID (3) BSRD No. (4) Transaction Code

"Attachment 3"

(Pursuant to Circu(ar No. 815 dated 18 October 2013) APPENDIX 11.1B Page 18 of 30

(8) Telegraphic Transfer Ref. No. (11) Amount in FCY (if original currency is not US dollar) (12) Amount (US$ Equivalent) (6) Settlement/Record Date (7) CIR No. (9) Conversion Date (13) Converting Bank (17) Increase in No. of Shares/Face Value/Maturity Value (18) Increase in Peso Proceeds (21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date {10} FCY Symbol (14) FX Rate Report on Registered Portfolio Investments

Code 208.1 - Funded by sales proceeds

D Obtain the applicable BSRDLA if a transfer of funds between custodian banks is

used to fund the additional investment. b. Fill up two consecutive lines on the report and provide the following details in the

corresponding columns of the report template:

The first line should contain the following details on the additional investment under the corresponding columns of the report template:

(4) Transaction Code (5) Investment ID {3} BSRD No.

(17) Increase in No. of Shares/Face Value/Maturity Value (18) Increase in Peso Proceeds (21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date {6) Settlement/Record Date

covering the sales proceeds which funded the purchase of the additional The second line should contain the following details of the source BSRD investment (use code 401.1 or 401.2) under the corresponding columns of the report template:

(3) BSRD No. (19) Decrease in No. Of Shares/Face Value/Maturity Value (20) Decrease in Peso Proceeds (4) Transaction Code (5) Investment ID (6) Settlement/Record Date

If multiple sales proceeds funded the investment, replicate the second line and proceeds (Column 20) equals the investment amount (Column 18). provide the corresponding details for each sale transaction to show that total sales

Code 208.2 -- funded by cash dividends/interest income

a. b Fill up two consecutive lines on the report and provide the following details in the Obtain the applicable BSRDLA if a transfer of funds between custodian banks is used to fund the additional investment.

corresponding columns of the report template:

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 19 of 30

The first line should contain the following details on the additional investment under the corresponding columns of the report template: Report on Registered Portfolio Investments

(5) Investment ID (3) BSRD No. (4) Transaction Code (6) Settlement/Record Date (17) Increase in No. of Shares/Face Value/Maturity Value {18) Increase in Peso Proceeds (21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date

The second line should contain the following details of the mother shares the corresponding columns of the report template: entitled to the cash dividends/interest income (use code 403.1 or 403.2)under

(5) Investment ID (3) BSRD No. (4) Transaction Code (6) Settlement/Record Date (15) Dividend Rate/Ratio (16) No. of Mother Shares (20) Decrease in Peso Proceeds

C. If multiple cash dividend proceeds funded the investment, replicate the second line

to show that total cash dividend proceeds (Column 20) equals the investment amount (Column 18). for each cash dividend and provide the corresponding details for each transaction

Code 208.3 - funded by IPD

a. Obtain the applicable BSRDLA if a transfer of funds between custodian banks is

b. Fill up two consecutive lines on the report and provide the following details in the used to fund the additional investment.

corresponding columns of the report template:

The first line should contain the following details on the additional investment under the corresponding columns of the report template:

(4) Transaction Code (5) Investment ID (6) Settlement/Record Date (3) BSRD No. (17) Increase in No. of Shares/Face Value/Maturity Value (18) Increase in Peso Proceeds (21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date

The second line should contain the following details of the source BSRd covering the IPD which funded the purchase of the new investment (use code 404.1 or 404.2)

(4) Transaction Code (5) Investment ID (3) BSRD No

APPENDIX 11.1B "Attachment 3"

(Pursuant to Circular No. 815 dated 18 October 2013) Page 20 of 30

(20) Decrease in Peso Proceeds (6) Settlement/Record Date Report on Registered Portfolio Investments

c. If multiple IPDs funded the investment, replicate the second line and provide the (Column 20) equals the investment amount (Column 18). corresponding details for each IPD transaction to show that total IPD withdrawals

8. Registration of Stock Splits (Trans. Code 209.0) and Reverse Stock Splits (Trans. Code

210.0

Fill up two consecutive lines on the report and provide the following details in the corresponding columns of the report template:

The first line should contain the following details of the account after the event under the corresponding columns of the report template:

(4) Transaction Code (5) Investment ID (6) Settlement/Record Date (15) Dividend Rate/Ratio (3) BSRD No.

16) No. of Mother Shares

(21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date (17) Increase in No. of Shares/Face Value/Maturity Value

The second line should contain the following details of the account to be zeroed out (use code 405).

(6) Settlement/Record Date (4) Transaction Code (5) Investment ID (19) Decrease in No. Of Shares/Face Value/Maturity Value (3) BSRD No.

9. Deposits to Interim Peso Deposits (IPD)(code 211 and 212)- An IPD account is an

account where sales/maturity/pretermination proceeds of registered investments, cash may be deposited awaiting investor's instruction on whether to repatriate or reinvest the funds. Peso conversion proceeds of FX inward remittances cannot be directly deposited to the IPD account. An IPD account is not eligible/registrable as an investment. dividends, coupon payments and interest income accruing to registered investments

Code 211.0 -- funded by sales proceeds of registered investments

2: involved) covering the cash dividend used to fund the additional investment. Obtain the applicable BSRDLA (if a transfer of funds between custodian banks is

b Fill up two consecutive lines on the report and provide the following details in the

corresponding columns of the report template:

The first line should contain the following details of the deposit to the (PD account under the corresponding columns of the report template:

(4) Transaction Code (3) BSRD No.

APPENDIX 11.1B "Attachment 3"

(Pursuant to Circular No. 815 dated 18 October 2013) Page 21 of 30

(5) Investment ID (18) Increase in Peso Proceeds (22) Registration Date (6) Settlement/Record Date Report on Registered Portfolio Investments

The second line should contain the following details of the sales proceeds deposited to the IPD account (use code 401.1 or 401.2).

(5) Investment (D (21) Internationat Securities identification Number/Certificate of Time Deposit (4) Transaction Code (6) Settlement/Record Date (19) Decrease in No. Of Shares/Face Value/Maturity Value (20) Decrease in Peso Proceeds (3) BSRD No.

Code 212.0 -- funded by cash dividends_and interest income accruing to registered investments

a. Obtain the applicable BSRDLA (if a transfer of funds between custodian banks is

involved) covering the cash dividend used to fund the additional investment.

b. Fill up two consecutive lines on the report and provide the following details in the

corresponding columns of the report template:

The first line should contain the following details of the deposit to the IPD account under the corresponding columns of the report template:

(4) Transaction Code (3) BSRD No. (5) Investment ID (6) Settlement/Record Date (22) Registration Date (18) Increase in Peso Proceeds

The second line should contain the following details of the mother shares the corresponding columns of the report template: entitled to the cash dividends/interest income (use code 403.1 or 403.2) under

(4) Transaction Code (15) Dividend Rate/Ratio (only for cash dividends) (3) BSRD No. (5) Investment ID (6) Settlement/Record Date (16) No. of Mother Shares (only for cash dividends) {20} Decrease in Peso Proceeds

10. Registration of Stock Warrants (code 213.1 to 213.4)

Code 213.1 - Funded by IR

a. Use a single line and provide the following details under the corresponding columns of the report template:

(3) BSRD No. (4) Transaction Code

APPENDIX 11.1B "Attachment 3"

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(6) Settlement/Record Date (7) CIR No. (9) Conversion Date (5) Investment ID (8) Telegraphic Transfer Ref. No. Report on Registered Portfolio Investments

(13) Converting Bank (11) Amount in FCY (if original currency is not US dollar) (12) Amount (US$ Equivalent) (10) FCY Symbol (14) FX Rate

(21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date (17) Increase in No. of Shares/Face Value/Maturity Value (18) Increase in Peso Proceeds

Code 213.2 - Funded by sales proceeds

a. Fill up two consecutive lines on the report and provide the following details in the

corresponding columns of the report template:

The first line should contain the following details on the additional investment under the corresponding columns of the report template:

(4) Transaction Code (3) BSRD No. (17) Increase in No. of Shares/Face Value/Maturity Value (21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date (5) Investment ID (6) Settlement/Record Date (18) Increase in Peso Proceeds

The second line should contain the following details of the source BSRD

investment (use code 401.1 or 401.2) under the corresponding columns of the report template: covering the sales proceeds which funded the. purchase of the additional

(4) Transaction Code (5) Investment ID (19) Decrease in No. Of Shares/Face Value/Maturity Value (20) Decrease in Peso Proceeds (3) BSRD No (6) Settlement/Record Date

b. If multiple sales proceeds funded the investment, replicate the second line and provide the corresponding details for each sale transaction to show that total sales proceeds (Column 20) equals the investment amount (Column 18).

Code 213.3 -- funded by.cash dividends/interest income

A Obtain the applicable BSRDLA (if a transfer of funds between custodian banks is

involved) covering the cash dividend used to fund the additional investment.

b Fill up two consecutive lines on the report and provide the following details in the

corresponding columns of the report template:

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 23 of 30

Report on Registered Portfolio In testments The first line should contain the following details on the additional investment under the corresponding columns of the report template:

(6) Settlement/Record Date (4) Transaction Code (5) Investment ID (17) Increase in No. of Shares/Face Value/Maturity Value (18) Increase in Peso Proceeds (21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date (3) BSRD No.

The second line should contain the following details of the mother shares entitled to the cash dividends/interest income (use code 403.1 or 403.2)under the corresponding columns of the report template:

(5) Investment iD (3) BSRD No (4) Transaction Code (6) Settlement/Record Date (15) Dividend Rate/Ratio (16) No. of Mother Shares (20) Decrease in Peso Proceeds

C. if multiple cash dividend proceeds funded the investment, replicate the second line

for each cash dividend and provide the corresponding details for each transaction to show that total cash dividend proceeds (Column 20) equals the investment amount (Column 18).

Code 213.4 -funded by IPD

a Obtain the applicable BSRDLA (if a transfer of funds between custodian banks is

involved) covering the IPD used to fund the additional investment.

b. Fill up two consecutive lines on the report and provide the following details in the

corresponding columns of the report template:

The first line should contain the following details on the additional investment under the corresponding columns of the report template:

(3) BSRD No. (4) Transaction Code (5) Investment ID (6) Settlement/Record Date (17) Increase in No. of Shares/Face Value/Maturity Value (18) Increase in Peso Proceeds (21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date

The second line should contain the following details of the source BSRD 404.1 or 404.2). covering the IPD which funded the purchase of the new investment (use code

(4) Transaction Code (5) Investment ID {3} BSRD No

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 24 of 30

(6) Settlement/Record Date (20) Decrease in Peso Proceeds Report on Registered Portfolio Investments

C If multipie IPDs funded the investment, replicate the second line and provide the

corresponding details for each IPD transaction to show that total IPD withdrawals (Column 20) equals the investment amount (Column 18).

11. Registration of Property Dividends (code 214)

a. Fill up two consecutive lines on the report and provide the following details in the

corresponding columns of the report template:

The first line should contain the following details on the property dividend. under the corresponding columns of the report template:

(4) Transaction Code (5) Investment ID {3} BSRD No. (6) Settlement/Record Date (17) Increase in No. of Shares/Face Value/Maturity Value (21) International Securities Identification Number/Certificate of Time Deposit (22) Registration Date

The second line should contain the following details of the shares entitled to the property dividends (use code 407) under the corresponding columns of the report template:

(3) BSRD No. (4) Transaction Code (5) Investment ID (15) Dividend Rate/Ratio (19) Decrease in No. Of Shares/Face Value/Maturity Value (6) Settlement/Record Date (16) No. of Mother Shares

12. Registration_ of investments arising from conversion._of GDRs to common shares (Trans code 215)

Obtain the applicable BSRDLA from another custodian bank if the transfer of peso proceeds or shares is used to fund the creation of the new account.

b. If funded by IR, fill up two consecutive lines on the report as follows:

The first line should contain the following details of the common shares under the corresponding columns of the report template:

(4) Transaction Code (6) Settlement/Record Date (8) Telegraphic Transfer Ref. No. (10) FCY Symbol (11) Amount in FCY (if original currency is not US dollar) (5) Investment ID (7} CIR No. (12) Amount (US$ Equivalent) (3) BSRD No. (9) Conversion Date

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 25 of 30

(17) Increase in No. of Shares/Face Value/Maturity Value (18) Increase in Peso Proceeds {(13) Converting Bank {14) FX Rate (21) International Securities Identification Number/Certificate of Time Deposit Report on Registered Portfolio Investments

(22) Registration Date

The second line should contain the following details of the source BSRD covering the GDR (use code 410) under the corresponding columns of the report template:

(3) BSRD No. (4) Transaction Code (6) Investment ID (7) Settlement/Record Date (20) Decrease in No. Of Shares/Face Value/Maturity Value

C. If funded by Interim Peso Deposits (IPD), fill up three consecutive lines on the

report.

the corresponding columns of the report template: The first line should contain the following details of the common shares under

(4) Transaction Code (5) Investment ID (6) Settlement/Record Date (18) Increase in Peso Proceeds (3) BSRD No. (17) Increase in No. of Shares/Face Value/Maturity Value

(22) Registration Date (21) international Securities Identification Number/Certificate of Time Deposit

The second line should contain the following details of the IPD that funded the conversion (use code 404.1 or 404.2) under the corresponding columns of the report template:

(5) Investment ID (4) Transaction Code (6) Settlement/Record Date (20) Decrease in Peso Proceeds (3) BSRD No.

The third line should contain the following details of the source BSRD covering the GDR (use code 410) under the corresponding columns of the report template:

(3) BSRD No. (4) Transaction Code (5) investment ID (6) Settiement/Record Date (19) Decrease in No. Of Shares/Face Value/Maturity Value

APPENDIX 11.1B "Attachment 3"

(Pursuant to Circular No. 815 dated 18 October 2013) Page 26 of 30

13. Registration of investments previously covered by_a BSRD for a direct equity investment transferred to an existing BSRD for portfolio investments (code 216.0) Report on Registered Portfolio Investments

a Obtain the applicable BSRDLA from another custodian bank if the transfer of shares is used to fund the creation of the new account.

b Fill up two consecutive lines on the report and provide the following details in the

corresponding columns of the report template:

The first line should contain the following details on the BSRD that received the transferred shares under the corresponding columns of the report template:

(17) Increase in No. Shares/Face Value/Maturity Value (21) International Securities Identification Number/Certificate of Time Deposit (4) Transaction Code (5) investment ID (6) Settlement/Record Date (22) Registration Date (3) BSRD No.

The second line should contain the following details of the shares originally columns of the report template: registered as direct equity investment (use code 409)under the corresponding

(19) Decrease in No. Shares/Face Value/Maturity Value (3) BSRD No (4) Transaction Code (20) Decrease in Peso Proceeds (5) Investment ID (6) Settlement/Record Date

14. Registration of roll-over (maturity value) of peso time deposits (TD) covered by BSRD (including interest earned accruing from the TD) Code 217

Fill up two consecutive lines on the report and provide the following details in the corresponding columns of the report template:

The first line should contain the following details on the BSRD for the roll-over amount of time deposits:

(17) Increase in No. of Shares/Face Value/Maturity value (18) Increase in Peso Proceeds (settlement amount) (21) International Securities Identification Number/Certificate of Time Deposit (23) Maturity Date (3) BSRD No. (4) Transaction Code (5) Investment ID (6) Settlement/Record Date (22) Registration Date

The second line should contain the following details of the matured time deposits (use code 404.1 or 404.2).

(5) Investment ID (4) Transaction Code (3) BSRD No.

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 27 of 30

(6) Settlement/Record Date (19) Decrease in No. Of Shares/Face Value/Maturity Value (2o) Decrease in Peso Proceeds Report on Registered Portfolio Investments

(21) International Securities Identification Number/Certificate of Time Deposit

C. Repatriation (IOD-PID Form 1c)

1 Outward remittance of IPD (Trans. Code 301.0)

a. Use a single line and provide the following details under the corresponding columns of the report template:

(16) Decrease in Peso Proceeds (4) Transaction Code (5) Country where remitted {6} Investment ID (7) Settlement/Record Date (8) Actual Remittance Date (10) Amount in FCY (if currency repatriated is not US dollar) (11) Amount (US$Equivalent) {12) FX Rate {3} BSRD No. {9} FCY Symbol

2 Outward remittance of sales proceeds from registered investments in PSE-listed securities

(Trans. Code 302.0)

a. Use a single line and provide the following details under the corresponding columns of

the report template:

(4) Transaction Code (6) Investment ID (7) Settlement/Record Date (5) Country where remitted (8) Actual Remittance Date (9) FCY Symbol (11) Amount (US$ Equivalent) (12) FX Rate (15) Decrease in No. of Shares/Face Value/Maturity Vatue (16) Decrease in Peso Proceeds (3) BSRD No (10) Amount in FCY (if currency repatriated is not US dollar)

(17)International Securities Identification Number/Certificate of Time Deposit

3 Outward remittance of cash dividends/earnings/interest accruing to registered investments

(Trans. Code 303.0)

a Use a single line and provide the following details under in the corresponding columns

of the report template:

(4) Transaction Code (5) Country where remitted (6) Investment ID (7) Settlement/Record Date (3) BSRD No. {8} Actual Remittance Date {9} FCY SymboI

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 28 of 30

(10) Amount in FCY (if currency repatriated is not US dollar) (11) Amount (US$ Equivalent) (12) FX Rate Report on Registered Portfolio Investments

(14) No. of Mother Shares (13) Dividend Rate (16) Decrease in Peso Proceeds

4 Outward remittance of peso_maturity proceeds of registered_investments in peso time

deposits (Trans. Code 304.0)

D Use a single line and provide the following details under the corresponding columns of

the report template:

(11) Amount (US$ Equivalent) (17) International Securities Identification Number/Certificate of Time Deposit (4) Transaction Code (6) Investment ID (7) Settlement/Record Date (8) Actual Remittance Date (10) Amount in FCY (if currency repatriated is not US dollar) (15) Decrease in No. of Shares/Face Value/Maturity Value (16) Decrease in Peso Proceeds {3} BSRD No. (5) Country where remitted {9} FCY Symbo1 (12) FX Rate

5 Outward remittance of Peso Proceedsof registered investments in peso-denominated Government Securities (Trans. Code 305.0)

a. ' Use a single line and provide the following details under the corresponding columns of the report template:

(10) Amount in FCY (if currency repatriated is not US dollar) (4) Transaction Code (5) Country where remitted {6} investment ID (7) Settlement/Record Date (11) Amount (US$ Equivalent) (3} BSRD No. (8) Actual Remittance Date (9} FCY Symbo1 (12) FX Rate (15) Decrease in No. of Shares/Face Value/Maturity Value (16) Decrease in Peso Proceeds (17) International Securities Identification Number/Certificate of Time Deposit

6 Outward remittance of peso proceeds of registered investments in other peso-denominated

debt instruments (Trans. Code 306)

a. Use a single line and provide the following details under the corresponding columns of

the report template:

{6} Investment ID (5) Country where remitted (3) BSRD No. (4) Transaction Code

"Attachment 3"

(Pursuant to Circular No. 815 dated 18 October 2013) APPENDIX 11.1B Page 29 of 30

(17) International Securities Identification Number/Certificate of Time Deposit (10) Amount in FCY (if currency repatriated is not US dollar) (11) Amount (US$ Equivalent) (7) Settlement/Record Date (8) Actual Remittance Date (15) Decrease in No. of Shares/Face Value/Maturity Value (16) Decrease in Peso Proceeds {9} FCY Symbol (12) FX Rate Report on Registered Portfolio Investments

Outward remittance of cash proceeds of property dividends (Trans Code 307)

Use a single line and provide the following details under the corresponding columns of the report template:

(6) Investment ID (3) BSRD No. (4) Transaction Code (5) Country where remitted (7) Settlement/Record Date (8) Actual Remittance Date

(10) Amount in FCY (if currency repatriated is not US dollar) (11) Amount (US$ Equivalent) (15) Decrease in No. of Shares/Face Value/Maturity Value (9) FCY Symbo (12) FX Rate

(17) International Securities Identification Number/Certificate of Time Deposit (16) Decrease in.Peso Proceeds

8 Outward remittance of sales proceeds of foreign investments made prior to 15 March 1973

(Trans. Code 310.0)

a. Use a single line and provide the following details under the corresponding columns of the report template:

(5) Country where remitted (6) Investment ID (7) Settlement/Record Date (4) Transaction Code {9} FCY Svmbol (3} BSRD No (8) Actual Remittance Date

(17) International Securities Identification Number/Certificate of Time Deposit (11) Amount (US$ Equivalent) (15) Decrease in No. of Shares/Face Value/Maturity Value (10) Amount in FCY (if currency repatriated is not US dollar) (16) Decrease in Peso Proceeds (12} FX Rate

9 Qutward remittance of onshore sales proceeds._of securities issued by multilateral

institutions (Trans. Code 311.0)

a. Use a single line and provide the following details under the corresponding columns of the report template:

"Attachment 3" APPENDIX 11.1B

(Pursuant to Circular No. 815 dated 18 October 2013) Page 30 of 30

(7) Settlement/Record Date (15) Decrease in No. of Shares/Face Value/Maturity Value (4) Transaction Code (5) Country where remitted (6) Investment ID (8) Actual Remittance Date (10) Amount in FCY (if currency repatriated is not US dollar) (11) Amount (US$ Equivalent) (9) FCY Symbol (12) FX Rate (3) BSRD No. Report on Registered Portfolio Investments

(16) Decrease in Peso Proceeds (17) International Securities Identification Number/Certificate of Time Deposit

10. Outward remittance of excess FX funding for portfolio investments (Trans. Code 312.0)

a. Use a single line and provide the following details under the corresponding columns of the report template:

{4} Transaction Code (6) Investment ID (3) BSRD No. (indicate the CIR Number of the excess funding) (5) Country where remitted (7) Settlement/Record Date (8) Actual Remittance Date (10) Amount in FCY (if currency repatriated is not US dollar) (9} FCY Symbof (11) Amount (US$ Equivalent) (12) FX Rate (16) Decrease in Peso Proceeds

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"Attachment 5"

APPENDIX 1

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and amended by Circular No. 698 dated 05 November 2010, Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 1 of 9

by Authorized Agent Banks (AABs)/AAB-Forex Corps for Non-Trade Purposes Minimum Documentary Requirements* for the Sale of Foreign Exchange (FX)

A. Sale of FX for Non-trade Current Account Purposes under Section 2 of the Manual of Regulations

on FX Transactions (FX Manual)

Foreign travel funds Purposes Applicant's passport and ticket (All originals except as indicated) Documents Required

Educational expenses/student maintenance abroad Photocopy of proof of enrolment with, or billing statement from, school abroad

Correspondence studies Photocopy of proof of enrolment with, or billing statement from, school abroad

4. Medical expenses Photocopy of billing statement (for services rendered/ doctor/hospital abroad indicating cost estimate (for the treatment/service to be administered/ rendered) expenses incurred abroad) or certification issued by

5 Emigrants' assets (including a. Photocopies of:

inheritance, legacies, and income from properties) ii. Notarized Deed of Sale of assets in the Philippines iii. Proof of income received from properties in the i. Emigrant's visa or proof of residence abroad; (e.g., real estate, vehicies, machineries/ equipment, etc.); and Philippines

b. In the absence of the emigrant, a notarized Special Power of Attorney (SPA) for emigrant's representative/ agent. If SPA was executed abroad, original of SPA authenticated by Philippine consulate abroad.

6. Salary/bonus/dividend/other benefits a. Employment contract/Certification of employer showing

savings) of foreign nationals (including peso b. ACR I-Card and DOLE Alien Employment Permit of the 2 Applicant's notarized certification that the FX remitted is. had been paid in FX or in pesos; if in FX, proof that the FX amount of compensation paid to the foreign national during the validity of the contract, stating whether same Was previously sold for pesos to AABs; foreign national;

a) All purchases of FX must companied by duly accomplished application to purchase FX using the

1 This includes FX purchases for downpayments and progress billings for non-trade services to be b) It is understood that when a bank certification regarding its client's deposit account is required, the be serviced with FX purchased from the banking system. Exceptions to this rule are: travel funds, medical expenses abroad not yet incurred, and sales proceeds of emigrant's domestic assets if emigrant rendered/rendered by non-residents, where applicable. account (whether offshore or onshore); or (b) resident creditor bank, whose FCDU loans are eligible to is still in the country. All FX purchases for non-trade transactions shall be directly remitted to the: (a) intended beneficiary's owner of the account should have executed a notarized waiver of secrecy of its deposit. prescribed format (Annex A).

"Attachment 5"

APPEND!X 1

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and amended by Circular No. 698 dated 05 November 2010, Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 2 of 9

net of local expenses incurred and/or previous transfers

d. If amount to be remitted comes from sources other than salaries/compensation, abroad; and information regarding the

sources supported by appropriate documents should be submitted.

T Foreign nationals' income taxes due to a ACR-I Card and DOLE Alien Employment Permit; and

foreign governments b. Photocopy of income tax return covering the income tax payment sought to be remitted.

8. Sales proceeds of foreign nationals' domestic assets b a Photocopy of proof of sale of asset/s indicating ACR I-Card; and currency of payment

9 Producers' share in movie revenue/TV a Statement of remittable share rental or rental; and

film rentals b. Photocopy of contract/agreement

10. Export commissions due to foreign agents a b Photocopy of contract/agreement Billing statement from non-resident agent; and

11. Freight charges on exports/imports J b. Photocopy of contract/agreement Billing statement; and

12. Charters and leases of vessels/aircrafts a b Billing statement from non-resident lessor/owner of Photocopy of contract/agreement vessel/aircraft; and

13. Leases of equipment and other capital a Billing statement from non-resident lessor and/or

goods owned and/or teased by non-resident entities to residents b C Photocopy of contract/agreement; and Shipping documents owner of the equipment and other capital goods;

14. Port disbursements abroad for aircraft chartered by domestic operators and and vessels of Philippine registry or b a Billing statement; and Photocopy of contract/agreement

salvage fees

15. Satellite and other Telecommunication a Billing statement; and

services b Photocopy of contract/agreement

16. Other services provided by non-residents (such as advertising. information technology, etc.) underwriting including brokers' fees for initial public offering involving Philippine shares, consultancy. a b. For underwriting fees/commissions/related expenses: a Billing statement; and Photocopy of contract/agreement Copy of the international underwriting agreement or

b. similar agreement/contract which shows the fees/ Detailed computation of the amount subject for remittance certified by the authorized officer of the commissions and related expenses and offer price;

C. Proof of listing of the IPO shares in the PSE issuer; and

"Attachment 5"

APPENDIX 1

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and amended by Circular No. 698 dated 05 November 2010, Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013 Page 3 of 9

For Foreign Broker's Commission

a Certified true copy of the covering purchase invoice or

b. sales invoice, as the case may be, reflecting the commission due the foreign broker/dealer client; and the foreign broker/dealer client for each purchase Detailed computation/allocation of the commission due transaction

17. Share in Head Office Expenses (including reimbursements) a b Audited schedule/s of allocation of expenses for the BSRD for the assigned capital in the branch;

period/s covered; C. d Head Office expenses remains unpaid and outstanding: Audited financial statements of the Philippine branch Certification from the Head Office that the share in and

18. Insurance/reinsurance premium due to foreign insurance companies Billings/invoices of insurance companies/ brokers abroad

19. Claims against domestic insurance companies by brokers abroad Billings/invoices from foreign insurer/ reinsurer

20. Net Peso revenues of foreign airlines/shipping companies a b. Statement of Net Peso Revenues (Peso revenues less expenses) certified by authorized officer of airline/ Photocopy of contract/agreement shipping company; and

21. Royalty / copyright / franchise / patent/ licensing Fees A b. Photocopy of contract/agreement. Statement/computation franchise/patent/licensing fee; and of the royalty/copyright/

22. Net Peso Revenues of Statement of net peso revenues" (Peso revenues"less

embassies/consulates of foreign countries expenses) certified by the Embassy's/Consulate's authorized officer

23. FX obligations of Philippine credit card companies to international credit card companies/non-resident merchants Summary billings

24. Refund of unused foreign grant/aid by from non-residents funded by inward remittance of FX that was converted to a b Request from grantor for the refund of the unused Copy of the contract/agreement covering the foreign grant/aid;

Pesos through AABs C amount of grant/aid; and Bank certification on:

I Inward remittance of the foreign grant/aid and its Balance of the PHP account from which the conversion to Philippine pesos; and

Philippine peso to be converted shall be debited

25. Refund of unused proceeds that were funded by inward remittance of FX that was converted to foreign loan a b. Copy of the contract/agreement covering the foreign Request from creditor for the refund of the unused Ioan;

Pesos through AABs C foreign loan proceeds; and Bank certification on inward remittance of the FX loan

"Attachment 5"

APPENDIXE

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and amended by Circular No. 698 dated 05 November 2010, Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 4 of 9

proceeds and conversion to Philippine pesos

26. Settlement by Philippine Deposit Certification by PDIC on the amount of deposit liabilities to Insurance Corporation (PDIC) of FCDU deposit claims: be paid to resident and non-resident depositors

B Sale of FX for Servicing Foreign/Foreign Currency Loans including Prepayments by Private Sector

covered by Sections 22 to 31 of the FX Manual

Purpose (All originals except as indicated) 34 Documents Required

Loan Payments

Medium/Long-term (MLT) foreign/foreign currency loans (with original maturities of over 1 year)

a. Regular amortization/payment 1.a. BSP registration letter and accompanying Schedule

RA-2 (PartI: Schedule of Payments on

Part II- Details of FX/Hedging Transactions for BSP-Registered Foreign/FCDU Loans); and BSP-Registered Foreign/FCDU Loans and

1.b. Copy of billing statement from creditor.

Amounts that may be purchased shall be limited to

in the registration letter. Purchase and remittance maturing amounts on scheduled due dates indicated

of FX shall coincide with the due dates of the obligations to be serviced, unless otherwise explicitly allowed by the BSP.

or:

2.a. BSP letter-authority for the borrower to purchase FX to service specific loan account/s and where Purchases from the Banking System"; and applicable, the "Schedule of Foreign Exchange

2.b. Copy of billing statement from creditor.

Amounts that may be purchased shall be limited to the unutilized balance of the letter authority Remittance of FX purchased shall coincide with the

otherwise explicitly allowed by the BSP. due dates of the obligations to be serviced, uniess

All original documents shall be stamped "FX-SOLD" indicating the date and amount of FX sold, and For the settlement by PDIC of FCDU deposit claims, supporting documents must be presented regardless of amount. Both resident and non-resident claims may be serviced. whether on spot or forward basis and signed by the seller's authorized signatory.

"Attachment 5"

APPENDIX 1

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and amended by Circular No. 698 dated 05 November 2010, Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 0ctober 2013 Page 5 of 9

b. Prepayments of foreign/foreign 1.a BSP registration letter and accompanying Schedule

guaranteed currency loans of the private Sector that are not publicly- BSP-Registered Foreign/FCDU Loans and Part II- RA-2 Details (Part of I:Schedule FX/Hedging Of Transactions Payments or fo

BSP-Registered Foreign/FCDU Loans; and

1.b Original BSP letter acknowledging borrower's notice of prepayment receipt of the

2. Short-term foreign/foreign currency 1.a. BSP approval or registration letter showing loan

toans (with original maturity of up to 1 year) terms and borrower's receiving copy of its report on short-term loans as submitted to BSP's International

A Loans from offshore creditors Operations Department (IOD); and

(banks and non-banks) 1.b. Copy of billing statement from creditor.

Purchase and remittance of FX shall coincide with unless otherwise explicitly allowed by the BSP Amounts that may be purchased shall be limited to: (a) amounts/rates indicated in the BSP approval or the loan indicated in the report, whichever is lower. the due dates of the obligations to be serviced, registration letter; or (b) the outstanding balance of

b. Loans from FCDUs/OBUs For loans requiring BSP approval/registration:

1.a. BSP approval or registration letter showing loan

terms;

1.b. outstanding; and Certification from the lending bank on the amount

1.C. Copy of billing statement from creditor.

(a) amounts/rates indicated in the BSP approval or shall coincide with the due dates of the obligations to be serviced, unless otherwise explicitly allowed by registration letter; or (b) the outstanding balance of the loan indicated in the bank certification, whichever is lower. Purchase and remittance of FX the BSP. Amounts that may be purchased shall be limited to:

For loans not requiring BSP approval/individual registration

2.a. Head of the lending bank's Loans Department: Promissory Note (PN) certified as true copy by the

2.b. Certification from the lending bank:

On the principal amount still outstanding:

4 Individual registration means a BSP registration document is required

"Attachment 5"

APPENDIX 1

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and amended by Circular No. 698 dated 05 November 2010, Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 6 of 9

iv. On the date when the loan account was reported ji. That the loan is eligible for servicing with FX to be iii. That the loan was used to finance trade transactions (as well as pre-export costs in the with existing regulations; to the appropriate BSP department/office under purchased from the AABs/AAB-forex corps in line case of FCDU loans to exporters) of the borrower; and the prescribed forms. (This may be dispensed with for new loans which may not have been reported yet to BSP as of date of application to purchase FX.

2.c. Copy of billing statement from creditor.

PN, whichever is lower. Purchase and remittance of explicitly allowed by the BSP. Amounts that may be purchased shall be limited to amounts/rates indicated in the bank certification or FX shall coincide with the due dates of the obligations to be serviced, unlessotherwise

Payments related to Guarantees and Similar arrangements (including Risk Take Over arrangements)

1. Paymentsby resident under the guarantee guarantor a foreign currency obligation; and (ii) creditor's call on the For Sections 30.1 and 30.3: (i) BSP approval of the foreign/ guarantees requiring BSP approval under

guarantee

b. For guarantees not requiring BSP approval and registration under Section 30.2(a): (i) copy of the (ii) creditor's call on the guarantee required report stamped as received by the BSP; and

2. Payments by the original resident a. BSP approval of the resulting foreign/foreign currency

obligor to the AAB/foreign guarantor arising from the call on the guarantee b Billing statement from the AAB/foreign guarantor. obligation; and

"Attachment 5"

APPENDIX 1

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and amended by Circular No. 698 dated 05 November 2010, Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 7 of 9

3. For guarantees and similar arrangements [including FX liabilities Risk arising Take from Over I a. b BSP approval of the resulting foreign/foreign currency obligation; Copies of:

Arrangements (RTO)] that do involve foreign/FCDU loans not d Proof/notice of original obligor's default and creditor's ii. Standby Letter of Credit (SLC) or guarantee Billing statement from the non-resident or local bank call on the guarantee; and Agreements/contracts covered by the guarantee/ similar arrangement; contract/agreement for the guarantee;

guarantor

4. Regular fees related to Build-Operate- d BSP Registration Document

Transfer (BOT) and similar financing b Copy of the covering agreements/contracts schemes with transfer provisions Billing statement from the private sector project company/proponent

C. Sale of FX for Servicing Foreign Investments, Investments by Residents, and Related Transactions

covered by Sections 32 to 44 of the FX Manual

Purposes (All originals except as indicated) Documents Required

Foreign Investments

I Capital Repatriation for:

Portfolio Investments in:

both residents and non-residentst PSE-listed securities issued bv bank and any of the following: BSRD or BSRD Letter-Advice from the registering custodian

b. a Electronically-generated copy of the broker's invoice; or Photocopy of the original broker's invoice; or

C Systems-generated copy of the broker's invoice

Documents under items a to c shall contain the settlement amount, number of shares, investment identity, and settlement date for the transactions covered.

I Peso- Government Securities BSRD or BSRD Letter-Advice from the registering custodian

bank and photocopy of Confirmation of Purchase for Peso Government Securities

iii. 90-day time deposits BSRD or BSRD Letter-Advice from the registering custodian bank and photocopy of Matured Certificate of Deposits for

5 All original documents shall be stamped "FX-SOLD", indicating the date and amount of FX sold, and For securities issued by non-residents, these refer only to equity securities, whether primarily listed at, whether on spot or forward basis and signed by the seller's authorized signatory.

or uplifted from international exchanges to, the PSE.

"Attachment 5"

APPENDIX 1

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and amended by Circular No. 698 dated 05 November 2010, Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 8 of 9

90-day time deposits

iv. Other peso-denominated debt securities issued onshore by private resident firms BSRD and photocopy of matured security, or proof of sale, or equivalent document covering the debt securities

b. Foreign Direct Equity Investments a b. BSRD: Photocopy of Proof of Sale or .relevant documents

funds/assets such as statement of net assets in showing the amount to be repatriated; in case of dissolution/capital reduction, proof of distribution of

C Photocopy of Clearance from appropriate department liquidation;

d banks), or from the Insurance Commission (for insurance companies), from the Department of Energy gas/geothermal companies); Detailed computation of the amount applied for in the of the BSP-Supervision and Examination Sector (for or from the National Power Corporation (for oil/natural

e. Photocopy of pertinent audited financial statements; attached format (Annex N) prepared by the selling stockholder's representative;

L SEC clearance in case of dissolution, if applicable. and

2 Remittance of Dividends/ Earnings/Interests Profits/ a b. BSRD or BSRD Letter-Advice; Photocopy of PSE-cash dividends notice and Phil.

C. d Resolution covering the dividend declaration; Central Depository (PCD) printout of cash dividend payment or computation of interest earned issued by MMI issuer or bank; Photocopy of secretary's sworn statement on the Board Photocopy of latest audited financial statements or

e. interim financial statements of the investee firm foreign equity investments): covering the dividend declaration period (for direct For direct foreign equity investments, photocopy of

clearance pertaining to the investee firm from BSP-Supervision and Examination Sector (for non-PSE listed banks), Insurance Commission (for insurance Power Corporation (for oil/natural gas/geothermal Detailed computation of the amount applied for using the prescribed format (Annex N). companies), Department of Energy or from the National companies); and

3 Outward remittance in equivalent FX a. of: (a) excess .pesos funded with inward remittance of foreign exchange b foreign exchange and conversion to pesos; Certified true copy of certificate of inward remittance of Original BSRD showing utilization not less than

foreign exchange inwardly remitted BSP-registered computed as follows: peso proceeds of less the peso amount actually used for investment/s; plus 50 percent of total peso proceeds, net of charges, if any In case of investments registered by custodian banks, an registered investment may substitute for the BSRD; original bank certification indicating details of the

"Attachment 5"

APPENDIX 1

(As clarified by Circular Letter No. Cl-2010-009 dated 5 February 2010, and amended by Circular No. 698 dated 05 November 2010, Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 9 of 9

(b) interest earned on the excess C Swiftmessage/letter" request fromnon-resident pesos, if any investor for return of excess funds;

d account, certification from the depository/custodian peso funds for outward remittance. For remittance of interest earned from the peso cash bank on the amount of interest pertaining to the excess

4 Investments by Philippine residents A certification by the resident investor on the

under Section 44 of the FX Manual a Outward investments by residents in: b Original BSP letter-approval for the purchase of FX from cumulative FX purchases from AABs and AAB-forex Section 44 of the FX Manual; corps within the calendar year for all investments under

ii. Offshore Debt and equity securities residents, including depositary issued receipts offshore foreign by currency non- C 2 (IC) for investments of insurance companies; Photocopy of swift payment order instruction from the AABs and AAB-forex corps for all investments under Section 44 of the FX Manual, in excess of the USD60 miltion limit; Photocopy of clearance from the Insurance Commission

ii. Foreign currency-denominated denominated Mutual and Unit Investment Funds(UITFs) intercompany loans Funds Trust to the broker/trader (for instruments purchased offshore); or Proof of purchase of the debt securities by the resident client, namely: copy of the deal ticket, bank's counterparty/broker/trader indicating the name of payee and type/kind of investment authenticated by

b ii. Instruments Hi. Equity securities issued. iv. Investments in real property Other investments by residents: Bonds/notes of the Republic of notes requiring settlement in sale/trading operating in the Philippines, namely: (i) bond/notes under item (a) hereof; and (ii) debt securities non-residents and payable in an original tenor of at least one condominium units the Philippines Philippine resident peso-denominated foreign currency foreign currency subsidiaries of residents with (1) year abroad, issued offshore offshore, parent issued by held companies/ or inctuding including entities bonds/ other banks for by by e Photocopy of any of the following as applicable: (i) investment proposal or agreement/subscription agreement or equivalent signed document, with an original tenor of at least one (1) year/Contract to Sell covering a sale of real property abroad; or photocopy of purchase instruments (such as investments in debt and Funds and UITFs) indicating intent to purchase the securities and other details of the transaction (for instruments held for saie/trading by banks); and agreement/Deed of Sale or Assignment of the Investments/bond or. stock offering/signed investor's order/letter to broker/trader/bank to equity securities, as well as depositary receipts, Mutual confirmation of sale, client's letter of instructions loan

residents and listed abroad

"Attachment 6"

(Pursuant to Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) APPENDIX 1.1

Minimum Documentary Requirements for Peso Deposit Accounts of Non-residents'

1. 2. Inward "remittance of convertible foreign "I Peso income of non-residents from, or peso exchange sales proceeds Source of Funds of,propertiesin the a) Photocopy of contract/agreement or equivalent "a) Certificate of inward remittance (CIR) of foreign exchange and conversion to pesos using the prescribed form under Appendix 1 documents showing the source of pesos Documents

Philippines 3. Peso income of non-residents from, or peso sales proceeds of, properties in the Philippines falling under Sections 34 and 35 a) Photocopy of contract/agreement or equivalent b) Photocopy documents showing the source of pesos of Bangko Sentral Registration

of the Manual Document 4. 5. Onshore peso receipts of non-residents Peso from residents for services rendered by the working in the Philippines for less than former to the latter receipts of expatriates a) Photocopy of contract/agreement or equivalent Any of the following: a) Employment documents showing the source of pesos contract showing that a

6. Peso funds of: (i) foreign students enrolled one (1) year representing salary/allowance/ other benefits b) Certification of employer showing amount of c) Equivalent documents showing the source of a) Passport and School ID (for students) compensation paid to the foreign national pesos (e.g., pay .slip) and expatriate status non-resident is an expatriate working in the Philippines for less than one (1) year during the validity of the contract (e.g., DOLE-issued work permit)

for at least one semester in the Philippines; and (ii) non-resident Filipinos b) CIR of foreign exchange and conversion to pesos or if foreign exchange is hand-carried, proof of using the prescribed form under Appendix 10.1 conversion to pesos through AABs or AAB-forex corps or if with peso income, photocopy of contract/agreement or equivalent documents showing the source of pesos 7. Peso proceeds from the onshore sale by the non-resident issuer of the PSE-listed equity securities? a) Photocopy of certificate of PSE-listing of the b) (i) Photocopy of proof of sale of PSE-listed securities, indicating the number and par value securities (e.g., certification from stock transfer of the buyer/s (i.e., whether Philippine residents of securities listed agent) indicating, among others, the number and par value of securities sold, and residency or non-residents), or (ii) Securities and Exchange Commission{SEC} Form 17-C{Disclosure/

Philippines stamped as received by the SEC of the Report on Termination and Sales Proceeds) duly

Applies to initial and subsequent deposits to the account Refer to equity securities of non-residents primarily listed at the PSE

"Attachment 7"

APPENDIX 10

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and as amended by Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 1 of 9

Procedures and Documentary Requirements for the Registration of Inward Foreign Investments and Other Investments

A foreign investment is considered BSP-registered upon issuance of a Bangko Sentral Registration Document (BSRD) by the Bangko Sentral ng Pilipinas (BSP) or a designated custodian bank.

A. For registration with the BSP

Foreign direct investments and investments in other peso-denominated debt instruments, under Section 34 and Section 35.4, respectively, of the "Manual" shall be registered directly with the BSP.

1. Foreign Direct Investments'

The following are the procedures for registration and the requisite supporting documents:

a. For Cash Investment

The application shall be filed directly with BSP together with the following supporting documents:

E Certificate of inward remittance (CiR) of foreign exchange through an

AAB in the prescribed format (Sample CIR and Guide/Instructions for Filling-Out CIR Form hereto attached as Appendix 10.1 and Appendix 10.2, respectively)

Note: Conversion to pesos of the foreign exchange funding the investment is not required for registration of foreign direct investment; and

ii.. Sworn certification of the officer of the investee firm concerned

attesting to the number of shares and amount paid for the investment [Suggested format attached as Appendix 10.3A (for Stock Corporations) and Appendix 10.3B (for Branches/Representative Offices/Regional Headquarters/Regional Operating Headquarters)]

b. For Investment in Kind

Application for registration shall be filed directly with BSP together with the following supporting documents:

1 Foreign direct investments required by law to be registered with the Securities and Exchange Trade and Industry shall be extended a Bangko Sentral Registration Document (BSRD) upon endorsement by either agency and submission of required documents. Commission or the Bureau of Trade Regulation and Consumer Protection of the Department of

"Attachment 7"

APPENDIX 10

(As clarified by Circular Letter No. Cl-2010-009 dated 5 February 2010, and as amended by Circular No. 742 dated Page 2 of 9

21 November 2011. Circuiar No.794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013)

Shipping documents; I Bureau of Customs Import Entry and Internal Revenue Declaration

iii. Sworn certification of the officer of the investee firm concerned (IEIRD); and

[Suggested format attached as Appendix 10.3A (for Stock attesting to the number of shares and amount paid for the investment Corporations) and Appendix 10.3B (for Branches/Representative Offices/Regional Headquarters/Regional Operating Headquarters)].

The value of investments in kind shall be assessed and appraised by the BSP before their registration.

c. For investment in financial institutions which are governed and regulated

by the BSP:

Clearance from the Supervision and Examination Sector of the BSP shall be required in addition to the documentary requirements for investments in cash or in kind.

d. Investment in Condominium Units

Copy of duly accomplished original CiR of foreign exchange; I Condominium certificate of title in the name of the foreign investor; iii. Copy of the Deed of Absolute Sale/Contract to Sell of condominium

unit to the foreign investor; and iv. Certification from the owner/developer/administrator/property

manager of the condominium attesting to the compliance with the foreign ownership limitation under existing Philippine laws.

e. Registration as foreign investments of capitalized oil, gas, geothermal

energy exploration/development expenditures

The application for registration shall be filed directly with the BSP together with the following supporting documents:

Government-approved service contract/other contract; and ii. Copy of the Department of Energy (DOE)/National Power Corporation (NPC) letter-validation of expenditures showing, among others, the

distribution of validated expenditures among the partners under the service contract/other contract.

f. Investments funded by foreign loan/s and other payables converted into

equity

"Attachment 7"

APPENDIX 10

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and as amended by Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 3 of 9

Original CIR of foreign exchange through an AAB in the prescribed format (Appendix 10.1) for foreign loans not registered with the BSP;

ii. Copy of BSP registration for foreign loans registered with the BSP; iii. Sworn certification from investee firm's authorized officer attesting to iv. Deed of Assignment of foreign loan or other payables; v. Latest audited financial statements of investee firm; and vi. Articles of Incorporation of the investee firm the number of shares and amount paid for the investment remittable outward and that such are funded from foreign loans/payables converted to equity;

g. Stock and/or property dividends accruing on BSP-registered investments in non-PSE-listed firms

Copy of BSRD; and ii. Sworn certification signed by the investee firm's authorized officer on the declaration of the stock and/or property dividend, to include relevant excerpts of the covering: (i) Stockholders' and Board Resolutions for stock dividends; and (ii) Board Resolution for property

dividends.

h. Stock splits/reverse stock splits on BSP-registered investments in non- PSE-listed firms

Copy of BSRD; and ii. Sworn certification signed by the investee firm's authorized officer declaring the stock split/reverse stock split, to include relevant

excerpts of the covering Stockholders' and Board Resolutions

2. Investments in Other Peso-denominated Debt Instruments

Investments in other peso-denominated debt instruments issued onshore by private resident firms (such as bonds/notes, bills payables, non-participating

registered directly with the BSP supported by the following documents: preferred shares, and not covered by Section 23 of the Manual, shall be

a. Original CIR of foreign exchange and its conversion to pesos through an AAB in the prescribed form (Appendix 10.1); and b. Contract/Certificate of investment

For bonds/notes issued by private domestic firms that were purchased from Iocal banks, the following additional documents shall be reguired:

a.Copies of bonds/notes; and b. Purchase Price Letter/Agreement

"Attachment 7

APPENDIX 1C

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and as amended by Circular No. 742 dated Page 4 of 9

21 November 2011.Circuiar No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013)

For foreign investments in non-participating preferred shares, the following additional document/s shall be required:

Purchase invoice, or subscription agreement and/or proof of listing in the local stock exchange for new/additional issues/stock rights

3. Investment in bonds/notes converted into. equity shares in PSE-listed

companies

a. Original CIR of foreign exchange issued by an AAB in the prescribed

format (Appendix 10.1) for proceeds of foreign loans not registered with the BSP; or Copy of BSP registration for foreign loans registered with the BSP: b. Bond/Note Offering Circular for bonds/notes not registered with the BSP; c. Sworn certification from investee firm's authorized officer attesting to the

number of shares issued and amount paid for the investment and that such are funded from foreign loans/payables converted to equity; d. Notice of Bond Conversion from the Agent showing the amount of bonds

converted, equivalent number of shares, conversion price and conversion date: e. Latest audited financial statements of investee firm; and f Articles of Incorporation of the investee firm and latest General

Information Sheet submitted to SEC.

Reinvestment of peso divestment/salesproceeds_.or.dividends/profits/ earnings of duly._registered investments (The following documentation requirements are in lieu of the CIR and in addition to the required documentation for the specific form/type of reinvestment)

For divestment/sales proceeds

a. Original BSRD; b. Sworn certification signed by the original investee firm's authorized

officer attesting to the divestment/sale by the foreign investor; and c. Proof of divestment/sale for direct investment/s; or d. Matured contract/certificate of investment/proof of redemption for

money market instruments

For dividends/profits/earnings

a. Copy of BSRD; and b. Sworn certification signed by the investee firm's authorized officer

declaring the dividends or distribution of profits, to include relevant excerpts of the covering Board Resolution; or

"Attachment 7"

APPENDIX 10

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and as amended by Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 5 of 9

Proof of interest/coupon payments for investment/s in money market instruments

5. BSP-registered investments sold/transferred to another foreign investor if

payment is made offshore in foreign exchange

b. Sworn certification from the authorized officer of the investee firm. a. Original BSRD;

selling foreign investor to the buyer, in the books of the investee firm: attesting to the transfer/assignment of the investments from the

c. Deed of Sale/Assignment and

Replacement of Lost BSRDs

a. Letter request from the foreign investor or his duly authorized representative;

b. Affidavit of Loss from the foreign investor or his duly authorized representative attesting to the following:

ii. Reason for the loss; i.Loss of the original BSRD;

iii. Affirmation that they have exercised diligent search for the

document/s declared lost;

v. The outstanding balance of the investment, net of repatriation, if any iv. That the investment is still intact and existing to date;

vi. The registration number/s and date/s registered; vii. The number of shares registered under each registration and

percentage of the foreign investment to the total shares subscribed and paid up, as applicable.

c. Letter authority from the foreign investor for the replacement of the lost BSRD if the request and affidavit of loss are accomplished and signed by the duly authorized representative.

B. For Registration with Custodian Banks

the BSP, the following: Custodian banks designated by the foreign investors shall register, in behalf of

N Non-resident investments in peso-denominated government securities, PSE-listed securities of Philippine residents, and peso time deposits with tenor of at least 90 days (Items 1, 2, and 3 under Section 35 of the Manual); and

"Attachment 7"

APPENDIX 10

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and as amended by Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 6 of 9

2 Non-resident investments in PSE-listed equity securities issued by non- residents.

The duplicate copy of the BSRD issued by custodian banks, together with the requisite supporting documents enumerated in this Appendix, shall be submitted to the BSP-IOD within two (2) banking days from date of registration for post audit purposes. The original BSRD shall remain in the custody of the issuing custodian bank.

I.. Rules on issuance of BSRDs by custodian banks

The following rules shall govern the registration of investments with custodian banks:

1. A BSRD shall be issued by a custodian bank to a non-resident for all his

investments in peso-denominated government securities, PSE-listed securities of residents, and peso time deposits.

A separate BSRD (with the suffix "NR" in the registration number) shall be issued by a custodian bank to a non-resident exclusively for all his investments in PSE-listed equity securities issued by non-residents.

BSP-IOD within two (2) banking days from transaction date under the prescribed report form/s. Registered investments shall be reported by the custodian bank to the

2. All changes in composition of investments shall be reflected in the same

BSRD.

3. For registration purposes, the following shall be annotated on the appropriate BSRD:

a. Additional investments funded by inward remittances of FX as well as those involving upliftment/transfer to PSE :of shares issued by

non-residents and previously listed in an international exchange; and

b. Changes in the composition of registered investments that do not

involve inward remittance of foreign exchange, such as stock dividends. stock splits, or reverse stock splits.

two (2) banking days from transaction date under the prescribed report form. The above shall be reported to the BSP-IOD by the custodian bank within

"Attachment 7"

APPENDIX 10

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and as amended by Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circuiar No. 815 dated 18 October 2013) Page 7 of 9

Il. Documentary Reguirements for Registration of Investments:

1.Investments in peso-denominated government securities (GS)

b. Original CIR of foreign exchange and its conversion to pesos through an a. Accredited dealer's Confirmation of Sale (COS); AAB in the prescribed format (Appendix 10.1); and C. "Authority to Disciose Information" in the prescribed format

(Appendix 10.4).

2. Investments in PSE-listed securities of residents

The application for registration shall be supported by the following documents:

a. For new/additional investments:

i. Purchase invoice, or subscription agreement and/or proof of listing in

the local stock exchange for new/additional issues/stock rights: and

ii. Original CIR of foreign exchange and its conversion to pesos through

an AAB in the prescribed format (Appendix 10.1)

iii. For annotation on the BSRD of stock dividends which accrued to

registered investments:

declaration PSE Notice (Circular for Brokers) announcing the stock dividend

b. For annotation on the BSRD of stock splits/reverse stock splits:

PSE Notice (Circular for Brokers) announcing the stock split/reverse stock split

3. Investments in peso time deposits with tenor of at least 90 days

a. Certification of peso time deposit; b. Original CiR of foreign exchange and its conversion to pesos through ar AAB in the prescribed format (Appendix 10.1); and C. "Authority to Disclose Information" in the prescribed format

(Appendix 10.4).

"Attachment 7"

APPENDIX 10

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and as amended by Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 8 of 9

Non-resident_investments in equities issued by non-residents previously

PSE listed in an international exchange and subsequently uplifted/transferred to

a. Proof of transfer of shares [e.g., certificate of lodgement with the

Philippine Depository and Trust Corp. (PDTC)] with details, including the following: number of shares transferred and par value of securities;

b. For annotation on the BSRD of stock dividends which accrued to

registered investments:

PSE Notice (Circular for Brokers) announcing the stock dividends

c. For annotation on the BSRD of stock splits/reverse stock splits:

Split PSE Notice (Circular for Brokers) announcing the stock split/reverse stock

5. Non-resident..investments.inPSE-listedequity securitiesissued.by non-residents

a. Original CiR of foreign exchange showing conversion to pesos through an

AAB in the prescribed form (Appendix 10.1); and

b. Purchase invoice or Subscription agreement and/or proof of listing at the

PSE for new/additional issues/stock rights.

c. For annotation on the BSRD of stock dividends which accrued to

registered investments:

PSE Notice (Circular for Brokers) announcing the stock dividends

d. For annotation on the BSRD of stock splits/reverse stock splits:

PSE Notice (Circular for Brokers) announcing the stock split/reverse stock split

6. Reinvestment .of.pesodivestment/sales..proceeds ordividends/profits/

earnings of duly registered investments

For divestment/sales proceeds:

a. Original BSRD-Letter Advice; and b. Proof of redemption of GS; or Broker's sales invoice; or Matured

certificate of peso time deposit, as applicable

"Attachment 7"

APPENDIX 10

(As clarified by Circular Letter No. CL-2010-009 dated 5 February 2010, and as amended by Circular No. 742 dated 21 November 2011, Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 9 of 9

For dividends/profits/earnings:

D Original BSRD-Letter Advice; and b. PSE Notice (Circular for Brokers) announcing the issuance of cash dividend for PSE-listed securities; or proof of interest/coupon payments for investment/s in GS and peso time deposits

HI. Surrender of BSRD

Whenever the BSP-registered investments have been fully divested

surrender the original BSRD to the BSP for cancellation within two (2) banking days (redeemed/sold/withdrawn) by the foreign investor, the custodian bank shall

from date of full remittance of divestment proceeds.

"Attachment 8"

APPENDIX 11

(As amended by Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 1 of 2

Inward Foreign Investments and Other Investments

Procedures for Repatriation of Capital and Remittance of Dividends/Profits/Earnings

Capital Repatriation/Remittance of Dividends/Profits/Earnings

The repatriation of sales/divestments proceeds, including remittance of

investments, may be effected by AABs without prior BSP approval upon dividends/profits/earnings which accrued to duly BSP-registered foreign

presentation of the original BSRD together with the supporting documents under Items C.1 and C.2 of Appendix 1 of the Manual.

Whenever the repatriation/remittance shall be effected through an AAB other than the custodian bank or the selling transaction was made through a stock broker other than the custodian broker, the custodian bank/broker upon request from the remitting bank or selling broker, shall issue a BSRD Letter Advice authorizing the latter to use fully or in part the remaining shares covered by the pertinent BSRD. The remitting AAB shall only effect the remittance upon presentation of the supporting documents under Item c.1 and C.2 of Appendix 1 of the Manual.

I Investments registered under the old Central Bank Registration Documents

(Transitory Procedures}

For capital repatriation:

The repatriation of capital of Central Bank registered direct foreign investments shall be effected through a commercial bank, without prior BSP approval, upon presentation of the following documents:

I Proof of Central Bank Registration; and 2. Proof of Sale.

For remittance of dividends/profits/earnings:

1 Board Resolution declaring dividend and the amount due the foreign

investor; and 2 Audited financial statements covering the dividend declaration period.

I Reporting Requirements

1 All remitting AABs (whether or not they sold the foreign exchange) shall

duly accomplish and submit to the BSP-International Operations Department (IOD) a report (Annex X) on repatriation of capital and outward remittance of cash dividends, profits' and earnings of

"Attachment 8"

APPENDIX 11

(As amended by Circular No. 794 dated 18 April 2013 and Circular No. 815 dated 18 October 2013) Page 2 of 2

BSP-registered foreign direct investments to be submitted daily accompanied by supporting documents mentioned in Items C.1 and c.2 of Appendix 1 within two (2) banking days from date of actual remittance.

2 The report form shall cover all remittances pertaining to foreign direct

investments (namely, investments in kind and in cash in non-PSE listed firms) registered directly by the BSP.

3 The following data shall be annotated at the back of the BSRD and duly

certified as correct by the authorized officer of the remitting bank:

a. On Capital Repatriation:

Identity of investments; sale or transaction date; no. of shares sold; net peso sales proceeds after tax; Net USD equivalent of amount remitted; Date of actual remittance; Country to which funds were remitted; and Name of remitting bank.

b. On Dividends/Profits/Earnings Remittance

equivalent of amount remitted; date of actual remittance; country dividend rate; net peso amount remitted after tax; Net USD to which remitted; and name of remitting bank. Identity of investments; record date; number of base shares;

The data shall be reflected in one line on a per remittance basis. If the space at the back of the BSRD is not enough, additional page/s may be used, which page/s shall be duly marked and certified by the bank's authorized officer as forming part of the BSRD.

Transactions on: (a) BSP-registered investments in PSE-listed securities of residents, government securities, other peso-denominated debt instruments and peso time deposits, as well as (b) non-resident investments in PSE-listed equity securities of non-residents, shall be reported by custodian banks in their Report on Registered Portfolio Investments.1

1 Softcopy to be sent to IOD at [email protected], together with hard copies of supporting shatl likewise be the filename convention for the attached report. documents listed under Appendices 1, 10 and 11. The subject line of the email shall indicate the following: Report on Registered Portfolio Investments <bank name> <report date>. This format