CBMPC Revises Policy on Withdrawal of Share Capital

The CBMPC Board approved during its March 20, 2023 meeting the following revised Policy on Withdrawal of Share Capital:

1. Withdrawal of Share Capital by a member shall be allowed only under any of the following conditions:

• Migration abroad of the member
• Death or insanity of the member
• Incapacity, disability or debilitating illness of the member which must be supported by a Physician’s Certificate.
• Debilitating illness of the 1st degree relatives, either by consanguinity or affinity, of member. Said illness must be supported by a Physician’s Certificate.

Otherwise, the member has to find a buyer of his/her shares.

2. A withdrawal fee of P1,000, regardless of the amount of share capital withdrawn shall be paid to CBMPC.

3. Any deviation from the approved policy shall be referred to the CBMPC Board, if needed for proper disposition.