Amendment to DOF Order No. 141-95, As Amended

July 30, 2004 DOF DEPARTMENT ORDER NO . 025-04 FURTHER AMENDING DEPARTMENT OF FINANCE ORDER NO. 141-95, AS AMENDED, ENTITLED "REVISED RULES AND REGULATIONS FOR THE ISSUANCE, PLACEMENT, SALE, SERVICE AND REDEMPTION OF TREASURY BILLS AND BONDS UNDER REPUBLIC ACT NO. 245, AS AMENDED Chapter III (Method of Origination) Part A (Auction Method) Section 11 of Department Order No. 141-95, as amended, is hereby amended to read as follows: Section 11. Receipt and Processing of Tenders by the Bureau of the Treasury . Tenders transmitted through the Bureau of the Treasury prior to the cut-off time fixed under Section 10 hereof for the receipt of tenders, shall automatically be acknowledged by the ADAPS or stamped with the time-dated clock by the Securities Origination Division Bureau of the Treasury (SOD-BTr), as the case may be. Neither the Department of Finance nor the Bureau of the Treasury shall bear any liability whatsoever for any errors in tenders received or for delays in the transmission of tenders. All tenders received on time shall be deliberated upon immediately after the cut-off time set by the Auction Committee composed of the Secretary of Finance or any representative designated by him/her, as Chairperson; the Treasurer of the Philippines, as Vice Chairperson; the Assistant Secretary for the Domestic Finance Group of the Department of Finance, as Member; the Deputy Treasurer of the Philippines for Operations, as Member; the Deputy Governor for the Banking Services Sector, Research and Treasury of the Bangko Sentral ng Pilipinas or his/her authorized representative, as Member, the Director of the Treasury Department of the Bangko Sentral ng Pilipinas, as Member; and the Director of the Brokers and Exchange Department of the Securities and Exchange Commission or his/her duly authorized representative as Member. At least four (4) members shall constitute a quorum to do business. The Deputy Treasurer of the Philippines for Operations shall also act as the Executive Officer. The Auction Committee staff support shall be provided by the appropriate division of the Bureau of Treasury. The Secretary of Finance may designate an additional member(s) in the Auction Committee as he/she may deem appropriate. This order shall take effect immediately. (SGD.) JUANITA D. AMATONG Secretary