Law Summary
Background
- On September 03, 2012, the Board issued Memorandum Circular No. 2012-022, which established guidelines for granting Provisional Authority to applicants for Truck-for-Hire (TH) Service.
- This Memorandum Circular revises the previous policy concerning the requirements for granting said authority.
Amendment of Insurance Requirement
- Legal Principle: The amendment excludes Comprehensive Insurance Coverage from the list of requirements necessary for the grant of Provisional Authority for Truck-for-Hire Service.
- Key Definitions:
- Comprehensive Insurance Coverage: Previously required insurance for TH operators, which is now excluded as a requirement.
- Important Requirements:
- The only change is the removal of the Comprehensive Insurance Coverage requirement; all other requirements remain as per the original guidelines.
Publication and Effectivity
- Timeframes:
- The Memorandum Circular takes effect immediately following its publication in at least one newspaper of general circulation.
- Filing Requirements:
- Three (3) copies of the Circular must be filed with the UP Law Center, as per the Presidential Memorandum Circular No. 11 dated 09 October 1992.
Modification of Inconsistent Issuances
- All other previous issuances or regulations that are inconsistent with this Memorandum Circular are deemed modified or superseded.
- Consequences:
- Any existing policies conflicting with the new provisions must be updated to align with the new directive.
Signatories
- The memorandum is signed by:
- ATTY. WINSTON M. GINEZ, CPA, Chairman
- ENGR. RONALDO F. CORPUS, Board Member
- ATTY. ANTONIO ENRILE-INTON, JR., Board Member
- ATTY. ROBERTO P. CABRERA III, Executive Director (Attested)
Key Takeaways
- The Memorandum Circular No. 2015-006 effectively eliminates the requirement for Comprehensive Insurance Coverage in the grant of Provisional Authority for Truck-for-Hire Service.
- The Circular is effective immediately after publication and modifies any conflicting regulations.
- Compliance with filing requirements at the UP Law Center is mandatory.
This summary encapsulates the critical changes introduced in the LTFRB Memorandum Circular No. 2015-006, emphasizing the exclusion of the insurance requirement and the necessary procedural adaptations.