New Mission Order for PCGG Comptroller

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OFFICE OF THE DEPUTY GOVERNOR SUPERVISION AND EXAMINATION SECTOR

CIRCULAR LETTER NO. CL-2008-070

To Ali Banks and Non-Bank Financial Institutions

Concerned

Subject :New Mission Order for PCGG Comptroller

For the information and guidance of all concerned, attached is a copy of the self-explanatory letter dated 14 October 2008 of Justice Narciso s. Nario, Commissioneriofficer-In-Charge, Presidential Commission onri, Good Government together with PCGG Mission Order No. NSN/RMA-2008-0002 designating Mr. Nicanor V. Suarez as Comptroller and signatory of First United Travel, Inc. (FUTI))

Please be guided accordingly

Nestor ayespenwta, Jr Deputy Governor

l October 2008

Att: A/S

Pananalaping Matatag, Bansang Panatag

A. Mabini St., Malate. 1.004, Manila, Philippinos. Trunkline.(632) 524-70-11 URL:www.bsp.gov.ph. o-mail: [email protected].

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PRESIDENTIAL COMMISSION ON GOOD GOVERNMENT REPUBLIC OF THE PHJLIPPINES 8 DCT 23P 1 3

WY October 14, 2008p: } ({23 IVED

HON. AMANdO M. TeTANGCO, JR.

Bangko Sentral ng Pilipinas Manila Governor

SubjeCt : NEW MISSION ORDER FOR PCGG COMPTROLLER

Dear Governor Tetangco:

companies covering disbursements which are pre-audited by the Commission- designated signatories, please consider the following amendments for dissemination to all commercial banks and other non-bank financial institutions: Relative to the signing of transmittal letters of sequestered/surrendered

1. All cash withdrawals, transfer of funds, money market placements and

loans, are subject to the prior consent and acknowledgment by the hereunder disbursements including rollovers/renewals, availment of credit facilities and

PCGG designated signatory of FIRST UNITED TRAVEL, INC. . The approVal by said PCGG Comptro!ler shall, at all times, be indicated in the withdrawal slips and/or transmittal letters covering transfer of funds, money market placements/advices or credit/loan application and other related documents. Further, said documents that are subject to pre-audit by the hereunder PCGG Comptroller need not be countersigned or approved by PCGG Officials, and therefore may be transmitted directly to the depository bank(s) subject to exception as mentioned in No. 4.

Mission Order Number Corporation Name of (Specimen Signature) Signatory

NSN/RMA-2008-0002 FIRST UNITED TRAVEI INC. (FUTI) MNCANOR Y SUAREZ

2. In the absence of the above-mentioned signatory, anyone of the following signatories may sign the transmittal letters and/or related bank documents/communications mentioned in No. 1 above. The following personnel are hereby designated as ALTERNATIVE signatories:

DAR ALTEA o0 ZENAIDA B. CABRERA

:G0Y iM SS 10230s-41

Page 2/2 BSP letter Oct 14. 2008

and shall be APPROVED by:

OIC-DIRECTOR ALFREDO M. DE(LA PAZ

before these are released or transmitted to the aforementioned company

3. In the absence of the above-mentioned signatories, OIC-DIRECTOR ALFREDO M. DE LA PAZ shatt countersign all documents mentioned in No. 2 and shall be approved by:

COMMISSIONEr rICArdO M. ABCEde

MILLION(R5,000,000.00) 4. A single disbur5ement/transaction exceeding the amount of FIVE PEsos shall need the approval of COMMISSIONER RICARDO M. ABCEDE or, in his absence, of OIC-DIRECTOR ALFREDO M. DE LA PAZ.

In this connection, kindly advise all commercial banks including all non- bank financial institutions concerned regarding the aforesaid changes which shall take effect immediately and supersede all previous instructions issued.

Thank you.

Very truly yours.

Justice NARCISO S. NARIO (Commissioner/officer-In-Charge

IRC Building,No. 82 EDSA, Mandaluyong City Phones: 725-6846 . 727-4434 : 725-7812 Telfax: 725-6915

REPUBLIC OF THE PHILIPPINES PRESIDENTIAL COMMISSION ON GOOD GOVERNMENT

MISSION ORDER NO. NSN/RMA - 2008- 0002

appearing opposite his name/designation, as follows: hereby assigned to the entity/property/asset or shares of stocks listed in the column Pursuant to Executive Order Nos. 1, 2, 14 & 14-A, the hereunder personnel is

NAME DESIGNATION ENTITYIASSETS

NICANOR V. SUAREZ COMPTROLLER FIRST UNITED TRAVEL, INC

hereunder, to wit: Accordingly, he is ordered to perform the following functions enumerated

1 To approve, sign all disbursements of corporate funds through vouchers

accordance with established government and company policies; : and other documents and see to it that all. payments are made in

2 Examine all contracts previously entered into, as well as contracts and

transactions to be entered into involving company funds, properties and assets to ensure that no violations, irregularities, or anomafies have been or are committed;

3 To check and monitor all collections and ensure that these are duly

deposited;

To verify bank reconciliation statements of all depository banks, monthiy:

Commissioner-in-Charge for Asset Management Department; and To submit a written monthly report to the Commission through the

6 To perform such other duties as may be directed by the Commissioner-in-

Charge of the Asset Management Department.

as the above-mentioned entity is concerned, and shall be effective from November 1, 2008 until December 31, 2008. This Mission Order supersedes Mission Order No. CLS/RMA-2008-0233 insofar

mentioned Comptroller at any time, with or without cause, and without prejudice to the Commission. The Commission reserves the right to terminate the services of the above.

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Phones: 725-6846 : 727-4434 - 725-7812 Telfax: 725-6915 IRC Building, No. 82 EDSA, Mandaluyong City

Page 2/2 Mission Order No. No. NSN/RMA-2008- 0002 2

the following: Finally, the above-mentioned Comptroller hereby commits himself to abide by

1 That he does not have any vested interest in, or conflict of interest with the companies to which he is assigned, including its subsidiaries and affiliates, during the last five (5) years;

2 That he shall not accept any position, either in part-time or full-time basis with the companies to which he is assigned, including its subsidiaries and affiliates, within a period of one (1) year following the termination of this Mission Order: and

3 That he shall refrain from getting his relatives up to the fourth civil

degree, be it of consanguinity or affinity, employed or involved in any business transactions with the companies to which he is assigned, including its subsidiaries and affiliates, during the period of his Mission.

Done this 13th day of October 2008, Mandaluyong City.

FOR THE COMMISSION:

RICARDO M. I Commissioner ABCEDE Commissioner/Officer-In-Charge UStice NARCISO S. NARIO

Conforme:

NICANOR V. SUAREZ

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Phones: 725-6846 727-4434 - 725-7812 Telfax: 725-6915 IRC Building, No. 82 EDSA,Mandaluyong City