Volume 13 Number 1 - University of the Philippines College of Law

498
National Administrative Register Volume 13/1
C. Cancellation/Revocation - Registration, permit and/or franchise of an ECOZONE enterprise
may be cancelled for any of the following grounds:
(a) Failure to maintain the qualifications of registration/permit/franchise as required.
(b) Violation of any pertinent provision of the Act/Code and/or Decree; and
(c) Violation of any of these Rules and Regulations, the corresponding implementing
memoranda or circulars or any of the general and specific terms and conditions of the
Registration Agreement between the PEZA and the ECOZONE enterprise or violation of
the terms and conditions of the permit/franchise issued by PEZA.
However, delay by the ECOZONE enterprise in the implementation of the timetable of
its project as set by the PEZA shall result in the automatic cancellation of the certificate of
registration/permit/franchise unless extended or a different period is set by the PEZA or
these Rules.
The imposition of the above penalties shall be without prejudice to the assessment and
collection of customs duties and taxes and/or forfeiture in accordance with the applicable
provisions of the Tariff and Customs Code of the Philippines.î
This Memorandum Circular shall take effect immediately.
For your guidance and information.
Adopted: 15 Oct. 2001
Date Filed: 27 February 2002
(SGD.) LILIA B. DE LIMA
Director General
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Memorandum Order No. 2001-001
Rental Fees on Public Economic Zone Industrial
Lots and Standard Factory Buildings
The PEZA Board of Directors, in its meeting on 15 January 2001, approved Board
Resolution No. 01-015, amending Board Resolution No. 97-297 and providing for the following:
1. Locator enterprises in the public economic zones (i.e., Bataan, Cavite, Baguio City and
Mactan Economic Zones), whether existing or new, shall make a ìgood faith depositîequivalent
to three (3) months rentals, which shall not be applied to current monthly rentals and which
may be refunded upon termination of lease contract or offset against any obligations of the
locator enterprise to PEZA.
In this connection, all locator enterprises are required to comply with the three (3)
months ìgood faith depositî on or before 31 May 2001.