Rule 2. Minimum Paid-up Capital of Pre-Need Plan Company 

Any new corporation applying for registration to act as an issuer of Pre-Need Plans shall have a minimum paid-up capital of One Hundred Million Pesos (P100,000,000.00); provided, that existing Pre-Need Companies with paid up capital of less than One Hundred Million Pesos (P100,000,000.00) shall have until April 30 2002 to comply with this requirement. For this purpose, the moratorium on registration of new Pre-Need Companies shall be extended up to April 30 2002. Provided however, that the moratorium does not apply to companies that acquire the shares and/or the assets and liabilities of existing Pre-Need Companies and who meet the P 100.0 Million paid-up requirement.

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