Republic of the Philippines DEPARTMENT OF FINANCE Manila

DLPAR,R.,ENT ORDER No. 65-90 Series of 1990 At'EENDMENT TO SECTION 1, ARTICLE IV OF DEPARUIENT ORDER NO. 48-90, OTERWISE ICNU,AlN AS RULES AND REGULATIONS GOVERNING 'TUiWNG SA BAYAN BONDS Pursuant to Section 1 of Republic Act No. 245, as amended, and of Section 2, Article V of the Department Order No. 48-90 is hereby amended to read as follows: IV. Lottery Bond Scheme

Section 1. Lottery Committee. A Lottery Committee composed of five (5) members is hereby constituted, to wit: 1. Chairman, Secretary of Finance or his representative

2. Member, Director of the Government Securities Department of the Central Bank of the Philippines 3. Member, President of the Chamber of Thrift Banks of the Philippines

4. Member, Administrator of Social Security System 5. Member, a representative from Development bank of the Philippines

Alternate members may also be designated in the absence of the regular members. The Committee shall designate a Secretariat from the staff of Development Bank of the Philippines (DBP). The Committee shall perform the following: a) Supervise the actual draw; b) Prepare and submit a report on the results of the lottery, recommending payment of the prizes therein awarded. The allotment of the prizes as approved by the Secretary of Finance shall be final; and c) Cause the publication of the results of the lottery. All other terms and conditions of Department Order No. 48-90 not inconsistent herewith shall remain in full force and effect. Section 2.

Effectivity.

approval.

December 7, 1990

This amendment shall take effect upon

DEPARTMENT ORDER NO. 65.pdf

48-90, OTERWISE ICNU,AlN AS RULES AND REGULATIONS ... of the Central Bank of the Philippines. 3. ... Member, Administrator of Social Security System. 5. ... DEPARTMENT ORDER NO. 65.pdf. DEPARTMENT ORDER NO. 65.pdf. Open.
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