Lost government securities caveat

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IC CIRCULAR LETTER NO. 11/92 CL: Lost government securities caveat

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Title Supreme Court: Lost government securities caveat

Law: Ic Circular Letter No. 11/92 Cl

Decision Date: May 14, 1992

A caveat has been issued by the Central Bank of the Philippines to prevent the transfer or payment of a lost 11-3/4% Treasury Note worth P10,000.00 registered to the Rural Bank of Mallig, Inc., requiring any presentation of the note to be directed to the Government Securities Department for verification.

lost securities

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Description of the Government Security Subject to Caveat

The note is an 11-3/4% Treasury Note with a face value of P10,000.
Registered in the name of Rural Bank of Mallig, Inc.
Identified by Serial No. 21/59th Series.
Issued on July 1, 1975, with maturity on July 1, 1990.

Legal Effect and Restriction Imposed by the Caveat

A Caveat is entered to prohibit the transfer, negotiation, exchange, or payment of the specific Treasury Note.
The Caveat acts as a preventive measure against unauthorized or fraudulent dealings of the lost security.

Procedures Upon Presentation of the Treasury Note

If the note is presented for any transaction (payment, transfer, exchange, negotiation), the bearer must be instructed to negotiate directly with the Government Securities Department of the Central Bank.
The department's address is A. Mabini St., Manila.

Reporting and Record-Keeping Requirements

The name and address of any person tendering the Treasury Note for any transaction must be secured.
This information shall be reported to the Government Securities Department of the Central Bank.

Authority and Issuance

The directive is issued by the Director of the Government Securities Department, Central Bank of the Philippines.
It is consulted and disseminated to all relevant Central Bank offices, authorized agent banks, and accredited government securities dealers.
The circular letter is endorsed by the Insurance Commissioner as part of its adoption and enforcement.

END