Posting of BSP Certificate of Registration and Authority to Operate

MEMORANDUM NO.  M-2008-003

TO : ALL PAWNSHOPS SUBJECT : Posting of BSP Certificate of Registration and Authority to Operate ffective upon publication hereof in a newspaper of general circulation, all pawnshops shall permanently display their original copy of the Certificate of Registration (COR) or Authority to Operate (AO) issued by the Bangko Sentral ng Pilipinas (BSP) to head office or branch, respectively, in a conspicuous place in their premises, preferably at the window or door that is clearly visible to the general public.

Failure to display the original copy of the COR/AO shall be deemed a violation subject to a penalty of one thousand pesos (P1,000.00) each for the first three (3) offenses.

For subsequent violation, automatic cancellation of the COR or AO issued to the pawnshop head office or branch, as the case may be and issuance of a letter to the concerned city or municipality advising them of the cancellation of the BSP COR/AO and recommending the revocation of their business/mayor’s permit(s). It is understood that if the COR of the head office is cancelled, the AO of the branch(es) is/are likewise cancelled.

For strict compliance.

NESTOR A. ESPENILLA, JR. Deputy Governor