MORNBFI Vol. 1 - Planters Development Bank

§ 4328Q.509.12.31ceilings until the outstanding loans, othercredit accommodations and guaranteeshave been reduced to within the hereinprescribed ceilings;(2) For the duration of each violation,imposition of a fine of one tenth (1/10) ofone percent (1%) of the excess over theceilings per day but not to exceed P30,000a day on the following:(a) The lending QB;(b) Each of the directors voting for theapproval of the loan, other creditaccommodation or guarantee in excess ofany of the ceilings prescribed above.g. Transitory provisions. Outstandingloans, other credit accommodation andguarantees to subsidiaries/affiliates that willexceed the ceilings mentioned above shallnot be subject to penalty until 09 April 2007or until said accommodations become pastdue, or are extended, renewed orrestructured, whichever comes later.(Circular No. 560 dated 31 January 2007, as amended by 654dated 12 May 2009)(Next page is Part III - Page 27)Manual of Regulations for Non-Bank Financial InstitutionsQ RegulationsPart III - Page 26a