Key Regulatory Change
- The importation of commodities listed in the Annex attached to the circular no longer requires prior approval from the Bureau of Import Services.
- This change is effective immediately from the date of issuance (February 27, 1990).
Authority and Approval
- The change follows a recommendation from the Department of Trade and Industry.
- It was approved by the Monetary Board under Resolution No. 122 dated February 9, 1990.
- The circular was officially adopted and signed by the Governor of the Bangko Sentral ng Pilipinas, Jose L. Cuisia, Jr.
Continuation of Other Clearances and Permits
- Importers must still obtain any existing clearances or permits required by agencies other than the Bureau of Import Services.
- These requirements remain governed by existing laws, Presidential Decrees, Letters of Instruction, and similar official issuances.
Annex and Accessibility
- The list of commodities exempted from prior approval is contained in an annex attached to the circular.
- The text of the annex is available at the Office of the National Administrative Register located at the U.P. Law Complex, Diliman, Quezon City.