Expiry Date Of Certificate Of Entitlement To Subsidy

August 7, 1992 FIRB RESOLUTION NO. 034-92 SUBJECT : Expiry Date Of Certificate Of Entitlement To Subsidy WHEREAS, there are a number of subsidy availments which are not effectively utilized by their beneficiaries because of the expiry date and/or near-expiry of the validity dates of the Certificate of Entitlement to Subsidy (CES) corresponding thereto; WHEREAS, the foregoing situation is caused by a number of factors, the most pervasive of which is the time lag involved in the documentation of claims for subsidy availment, reconciliation of claims and accounts between the beneficiaries of subsidy availment and the revenue collecting agencies, among others; WHEREAS, applications for extension of the validity date of their CES are initiated by the concerned beneficiaries, not just once but a number of times in some instances, in order to address the aforesaid problem; NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, That all Certificates of Entitlement to Subsidy shall have as their expiry date the 15th day of December of the current budget year in which said Certificates were issued. (SGD.) RAMON R. DEL ROSARIO, JR. Secretary of Finance Chairman FIRB References : FIRB Technical Committee Meeting dated July 21, 1992 FIRB Meeting dated August 6, 1992