MORNBFI Vol. 1 - Planters Development Bank

§ 4160Q.310.12.31or corrected certification on compliance orcertified true copy of the resolution of theboard of directors has been submitted tothe BSP.2. On the concerned directors/officers of the banka. For willful non-complianceDirectors/officers of the QB whowillfully fail/refuse to comply with theprovisions of this Subsection shall besubject to the monetary penaltiesapplicable to minor offenses underAppendix Q-39.b. For false/misleading statementsDirectors/officers of the QB whichhave been found to have willfully falselycertified or willfully submitted misleadingstatements in the required Certification onCompliance with the Regulation on theReclassification of ROPA to QB Premises,Furniture, Fixture and Equipment or in thecertified true copy of the resolution of theQB’s board of directors shall be subject tothe monetary penalties applicable to minoroffenses under Appendix Q-39, which shallbe reckoned on a daily basis from the dayfollowing the due date of the saidcertification until such time that an amendedor corrected certification on compliance orcertified true copy of the resolution of theboard of directors has been submitted tothe BSP.The imposition of the above sanctions iswithout prejudice to the filing of appropriatecriminal charges against culpable personsas provided under Section 35 of R.A. No.7653 for the willful making of a false/misleading statement.(As amended by Circular no. 701 dated 13 December 2010)(Next Page is Part I - Page 47)Q Regulations Manual of Regulations for Non-Bank Financial InstitutionsPart I - Page 46b