LTFRB MEMORANDUM CIRCULAR NO. 90-006

: It is an amendment to Memorandum Circular No. 90-002 minimizing requirements for Metro Manila PUB, PUJ, and Taxi operations.
: It addresses requirement No. 4 of Memorandum Circular No. 90-002 regarding proof of financial capacity or insurance coverage needed for applicants.
: Applicants may submit either proofs of financial capacity (such as TCTs, bank books, ITRs, Sworn Statement of Assets and Liabilities) or insurance coverage as required by the original Memorandum Circular No. 90-002.
: Because applicants were encountering problems complying with requirement No. 4, and there was a pending discussion concerning this requirement with the Insurance Commission.
: Yes, it takes effect immediately upon issuance (March 6, 1990).
: Public Utility Buses (PUB), Public Utility Jeepneys (PUJ), and taxis operating in Metro Manila are covered.
: Title Certificates (TCTs), bank books, Income Tax Returns (ITRs), and Sworn Statements of Assets and Liabilities.
: Remedios A. Salazar-Fernando (Chairman), Dante M. Lantin (Board Member), and Nicolas B. Acacio Jr. (Assistant Secretary and Acting Board Member).
: No, applicants may choose to submit insurance coverage or alternatively proofs of financial capacity until further notice.