Amendment to Rules on Export Retention
CBP CIRCULAR NO. 1334 Series of 1992
AMENDMENT TO RULES ON EXPORT RETENTION
Pursuant to Monetary Board Resolution No. 299 dated March 30, 1992, Circular No. 1319 dated January 3, 1992 is hereby amended, to wit:
1. Paragraph No. 2 thereof is amended to read as follows:
"'The SF may be used freely for any purpose by the exporter concerned."
2. Paragraph No. 3 thereof is amended to read as follows:
"The AAB concerned shall submit to the CB Export Department a monthly report on all SF opened and closed, as well as the aggregate outstanding balance of all SFs maintained with said AAB as of the end of the report month, within ten (10) banking days after each report month."
3, Paragraphs Nos. 4 and 5 thereof are deleted.
This Circular shall take effect immediately.
JOSE L. CUISIA, JR. Governor
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