CBP Circular Letter
CBP Circular Letter • Bangko Sentral ng Pilipinas • Circular Letters (Unnumbered) • Jun 9, 1989
Full text
June 9, 1989 CBP CIRCULAR LETTER TO : All Authorized Security Dealers/Brokers/Transfer/Agents and Authorized Agent Banks Please be informed that the Monetary Board in its Resolution No. 417 dated May 26, 1989, has decided that sales proceeds of CB-registered foreign investments in a domestic company whose shares of stock are not listed and traded in the local stock exchanges when the investments were made, but which company shares, were subsequently listed/traded in the local stock exchanges at the time of their sale, are repatriable and remittable in full, net of taxes and charges, subject to prior approval of this Bank thru the Foreign Exchange Operations and Investments Department. LLphil Please be guided accordingly. (SGD.) JUAN QUINTOS, JR. Deputy Governor
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