BSP Circulars BSP Circular No. 427BSP Circular No. 427 2004-04-12T00:00:00.000+08:00

Report on the Sworn Statement on Real Estate/Chattel Transactions submitted under BSP Form Nos. NP06-KB, NP06-TB and RB/COB 20

CIRCULAR NO. 427 Series of 2004

Pursuant to Monetary Board Resolution No. 349 dated 18 March 2004, the Report on the Sworn Statement on Real Estate/Chattel Transactions submitted under BSP Form Nos. NP06-KB, NP06-TB and RB/COB 20 need not be under the signature of all the members of the bank’s board of directors provided that:

(a)  transactions reported are being availed of strictly in accordance with the terms and conditions of a fringe benefit program approved by the bank’s board of directors and by the Bangko Sentral; and

(b)  the signatory to the certification is an officer duly authorized by the bank’s board of directors.

Transactions not covered under the bank’s fringe benefit plan shall still be reported under the signatures of all the members of the bank’s board of directors.

This Circular shall take effect after fifteen (15) days following its publication either in the Official Gazette or in a newspaper of general circulation.

FOR THE MONETARY BOARD:

RAFAEL B. BUENAVENTURA Governor

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