Memorandum Circular No. 1059




MALACAÑAN PALACE MANILA BY THE PRESIDENT OF THE PHILIPPINES [ Memorandum Circular No. 1059, May 8, 1978 ] TO: The Secretary, Department of Finance The Chairman, Board of Investments The Secretary, Department of Tourism The Secretary, Department of Trade The Governor, Central Bank of the Philippines The Chairman, Securities S Exchange Commission All Concerned For the purpose of strengthening the regulatory functions of the Accreditation Committee of the National Cottage industries Development Authority (NACIDA) pursuant to Section 2 of Presidential Decree No. 817 amending a portion of Republic Act No. 3470: 1. The Chairman of the Board of Investments shall require all persons or enterprises engaged in cottage industry and registered, or applying for registration, with the Board under Republic Act No. 6135 to secure the necessary accreditation from said NACIDA Accreditation Committee; 2. The Secretary of the: Department of Finance shall instruct all City and Municipal Treasurers and all collection agents of the Bureau of Internal Revenue not to issue any license or privilege tax receipts as the case may be, to any person or enterprise engaged in cottage industry without submitting proof that it has at least filed its application for accreditation with the NACIDA Committee; 3. The Secretary of the Department of Tourism shall not accredit any establishment dealing in cottage industry unless it has been duly accredited by the NACIDA Committee; 4. The Secretary of the Department of Trade shall require all persons engaged in the cottage industry whether as manufacturer, producer, trader or dealer of cottage industry raw materials, to obtain or apply for an accreditation with the NACIDA before they are allowed to participate in any commercial or promotional activity of the department; 5. The Governor of the Central Bank shall instruct all duly authorized banking institutions to require all cottage industry producers applying for export licenses to show proof of accreditation by NACIDA before: any of such license is issued. Further, the Central Bank shall conduct a study and devise a scheme on how these duly accredited cottage industry enterprises may be assisted by the Central Bank in obtaining the necessary financial assistance from the private financial institutions; and 6. The Chairman of the Securities and Exchange Commission shall furnish the NACIDA Accreditation Committee a list of all enterprises engaged in the cottage industry and registered with the Commission.1aшphi1 The Administrator of NACIDA is hereby authorized to call upon other government agencies to assist in the implementation of the objectives of the Accreditation Committee. By Authority of the President: JACOBO C. CLAVE Presidential Executive Assistant Manila, May 8, 1978 Reference: Position of the Committee regarding the NACIDA Compulsory Accreditation The Lawphil Project - Arellano Law Foundation