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MEMORANDUM CIRCULARS
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MEMORANDUM CIRCULAR NO. 3 -
REQUIRING ALL GOVERNMENT FINANCIAL INSTITUTIONS TO SUBMIT A LIST OF
CORPORATIONS WHERE THE GOVERNMENT HAD EXPOSURE, AN ACCOUNTING OF
GOVERNMENT MONEY LOANED TO DISTRESSED COMPANIES AND OTHER RELEVANT DATA
All government financial institutions such
as the Government Service Insurance System (GSIS), the Social Security
System (SSS), the Philippine National Bank (PNB), the Development Bank
of the Philippines (DBP), and the Land Bank of the Philippines (LBP)
are hereby directed to submit to the Office of the President a list of
the corporations where the government had exposure, the amount of money
lent and due from said corporations and the number of seats in the
Board of Directors allotted to the government by virtue of the capital
outlay of the government through its financial
institutions.
This Circular shall take effect immediately.
Done in the City of Manila,
this 17th day of March, in the year of Our Lord, nineteen hundred and
eighty-six.
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Since 19.07.98.