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BSP Circular No. 513 Series of 2006 (Amendments to the Fit and Proper Rule)

BSP CIRCULAR NO. 513 Series of 2006

BSP Circular No. 513 s.2006 | 2006-02-10

Subject: Amendments to Bangko Sentral ng Pilipinas Regulation on Fit and Proper Rule

Pursuant to Monetary Board Resolution No. 82 dated 19 January 2006, the provisions of the Manual of Regulations for Banks (MORB) and the Manual of Regulations for Non-Bank Financial Institutions (MORNBFI) are hereby amended as follows:

Section 1. Subsections X143.1 and 4143Q.1 of the MORB and MORNBFI, respectively, on Persons disqualified to become directors, are hereby amended to read as follows:

Without prejudice to specific provisions of law prescribing disqualifications for directors, the following are disqualified from becoming directors:

a. Permanently...