Republic of the Philippines

DEPARTMENT OF FINANCE Roxas Boulevard Corner Pablo Ocampo, Sr. Street Manila 1004

068.2014

DEPARTMENT ORDER NO. Z 6 August 2014

FURTHER AMENDING DEPARTMENT OF FINANCE ORDER NO. 141-95, AS AMENDED, ENTITLED "REVISED RULES AND REGULATIONS FOR THE ISSUANCE, PLACEMENT, SALE, SERVICE AND REDEMPTION OF TREASURY BILLS AND BONDS UNDER REPUBLIC ACT NO. 245, AS AMENDED" Section 1. Chapter III (Method of Origination), Part B (Over-the-Counter), Section 24 of DO 141-95 is hereby amended to read as follows: "Section 24. Transfer. — GOCCs/LGUs may sell their government securities prior to maturity only with GOCCs/LGUs which maintain Securities Account in the book-entry of the Bureau of the Treasury or subsequently in RoSS. In the same manner, TEIs may sell their government securities prior to maturity only to TEIs which maintain Securities Account in the book-entry of the Bureau of the Treasury or subsequently in RoSS. Transfer from a GOCC/LGU to authorized GOCC/LGU shall be effected by an appropriate book-entry in the Bureau of the Treasury or subsequently in RoSS. However, nothing herein shall preclude the Bureau of the Treasury from allowing transfers across tax categories (i.e., between and among a TEI, GOCC, LGU and taxable person or entity) provided that the Bureau of the Treasury has the capability to track such transfers of government securities. For this purpose, the BTr may also engage, designate or employ a facility or system linked with the RoSS for tax tracking, which facility shall be duly cleared by the Bureau of Internal Revenue as to its capability to accurately calculate and account for the appropriate taxes on relevant coupon period across tax categories. Implementation mechanics for the transition to a non-restricted trading across tax categories shall be issued by the Bureau of the Treasury in order to prevent any disruption in the government securities market. Section 2. Chapter IV (Uncertificated Treasury Issues and Transfers), Section 29 of DO 141-95 is hereby amended to read as follows: Section 29. RoSS (Registry of Scripless Securities). — The Secretary, through the BTr, having floated Treasury Bills and Bonds which are not

represented by a physical certificate shall record their transfers in RoSS, which is the official registry of ownership of or interest in scripless securities. The Bureau of the Treasury may, without compromising the integrity of the RoSS and the information contained therein and in accordance with applicable law, rules and regulations, engage, designate, or employ such facilities or systems that would enhance the existing registry capabilities of the RoSS System. Entries in such facilities or systems shall form part of the official records of the RoSS. Section 3. All Circulars, Memoranda or Orders inconsistent herewith are hereby revoked or modified accordingly. Section 4. This Order shall take effect immediately.

CES R V. POtkISIMA Secretary

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