VRB MEMORANDUM CIRCULAR NO. 2002-004, June 10, 2002

[ VRB MEMORANDUM CIRCULAR NO. 2002-004, June 10, 2002 ]

REDUCED REQUIREMENT OF 300 PIECES INVENTORY OF COPYRIGHTED VIDEOGRAMS WITH VRB RATING LABELS FOR NEW APPLICANTS FOR VIDEOGRAM RETAILERS

Please be informed that Board Resolution No. 02-05-35 dated May 27, 2002 was passed by the Board of Directors during its regular meeting, to wit:

"RESOLVED, as it is hereby resolved, that the requirement of 500 pieces of inventory of copyrighted videograms with VRB rating labels/holograms for new applicants for videogram retailers is reduced to 300 pieces of copyrighted videograms with VRB rating labels/holograms to encourage legitimization of videogram retail outlets.

This Board Resolution hereby amends Memorandum Circular No. 95-0008 and Board Resolution No. 95-05-78."

For your information and guidance.

Adopted: 10 June 2002

(SGD.) ATTY. LUALHATI R. BUENAFE, CESO II Chairperson and Chief Executive Officer