File - REBAP Metro Tagaytay

ADVERTISEMENTS
BROKERS, DEALERS
AND SALESMEN
2014 REVISED IMPLEMENTING RULES AND
REGULATIONS ON ADVERTISEMENTS &
BROKERS, DEALERS AND SALESMEN
ADVERTISEMENTS
BROKERS, DEALERS
AND SALESMEN
Section 19
P.D. No. 957
Sections 11 and 12
P.D. No. 957
“2014 Revised Implementing
Rules and Regulations on
Advertisements”
“2014 Revised Implementing
Rules and Regulations on
Dealers, Brokers and
Salesmen”
Approved: December 2, 2014
Published: January 30, 2015
Effective: February 14, 2015
ADVERTISEMENTS
Board Resolution No. 921,
Series of 2014
BROKERS, DEALERS
AND SALESMEN
Board Resolution No. 922,
Series of 2014
REVISED IMPLEMENTING RULES
AND REGULATIONS TO GOVERN
THE ADVERTISEMENTS OF
SUBDIVISION AND CONDOMINIUM
PROJECTS UNDER PRESIDENTIAL
DECREE NO. 957, OTHERWISE
KNOWN AS THE “SUBDIVISION
AND CONDOMINIUM BUYERS’
PROTECTIVE DECREE” AND ALL
OTHER PROJECTS REQUIRED BY
LAW TO BE REGISTERED WITH THE
HOUSING AND LAND USE
REGULATORY BOARD
REVISED IMPLEMENTING RULES
AND REGULATIONS TO GOVERN
DEALERS, BROKERS AND
SALESMEN OF SUBDIVISION AND
CONDOMINIUM PROJECTS UNDER
PRESIDENTIAL DECREE NO. 957,
OTHERWISE KNOWN AS THE
“SUBDIVISION AND CONDOMINIUM
BUYERS’ PROTECTIVE DECREE”
AND ALL OTHER PROJECTS
REQUIRED BY LAW TO BE
REGISTERED WITH THE HOUSING
AND LAND USE REGULATORY
BOARD
“2014 Revised Implementing
Rules and Regulations on
Advertisements”
“2014 Revised Implementing
Rules and Regulations on
Dealers, Brokers and
Salesmen”
ADVERTISEMENTS
BROKERS, DEALERS
AND SALESMEN
Board Resolution No. 921,
Series of 2014
Board Resolution No. 922,
Series of 2014
Memorandum Circular
No. 01, Series of 2015
Memorandum Circular
No. 02, Series of 2015
“2014 Guidelines on
Advertisements”
“2014 Guidelines on
Dealers, Brokers and
Salesmen”
ADVERTISEMENTS
BROKERS, DEALERS
AND SALESMEN
SCOPE OF APPLICATION
All subdivisions, including residential,
commercial, farmlot, and industrial subdivisions
All condominiums, including residential
and commercial condominiums
Any other similar projects, including
cemeteries, memorial parks, and columbaria
ADVERTISEMENTS
Definitions
ADVERTISEMENTS
“refers to any form of information, whether in
words or illustration relating to a project, disseminated
or communicated for the purpose of marketing and
selling the project, or any lot including any building or
improvement thereon, or any unit thereof”
ANNOUNCEMENTS
“refers to any form of information, whether in words
or illustrations, disseminated or communicated in
the same manner as an advertisement, solely for the
purpose of initially informing or notifying the public
about a project BUT NOT for the purpose of marketing
or selling”
ADVERTISEMENTS
Definitions
“Print Advertising”
“refers to all advertisements that are disseminated through newspapers, magazines, brochures, pamphlets, flyers and all other
similar or related materials”
“Broadcast advertising”
“refers to all advertisements or commercials that are disseminated
through radios and televisions. For purposes of this Rules, broadcast
advertising shall also include cinema advertisements, or those aired
or exhibited in theaters, as well as those disseminated or communicated through live streaming, or other similar methods”
“Out-of Home Advertising”
“Out-of Home Advertising” refers to all advertisements intended
to reach customers or prospective buyers while outside their homes
such as but not limited to photographic and electronic billboards,
transit advertisements, digital displays, banners, tarpaulins and
posters”
ADVERTISEMENTS
ANNOUNCEMENTS
Time
Media
Frame
newspapers, magazines,
televisions and radio
billboards, brochures,
leaflets and flyers
ADVERTISEMENTS
digital and electronic signages
and communications
scale models
buyers’ briefings,
seminars or trippings
Time Frame
ADVERTISEMENTS
License
to Sell
ANNOUNCEMENTS
ADVERTISEMENTS
ADVERTISEMENTS
ANNOUNCEMENTS
Owner
Developer
Who
Requirement
May Announce
of
Prior
or Advertise
Approval
ADVERTISEMENTS
Owner
Developer
Dealer
Broker
Salesperson
ADVERTISEMENTS
ANNOUNCEMENTS
NOT REQUIRED
Requirement
of
Truth
In Advertising
Prior Approval
ADVERTISEMENTS
REQUIRED
ADVERTISEMENTS
Truth In Advertising
Any announcement or advertisement about a project, or
about its operations or activities, must reflect the real
facts and must be presented in a manner that will not
tend to mislead or deceive the public.
All representations pertaining to the project’s payment
and financing scheme, design and standards, and its
amenities, facilities and other privileges connected
with the sale of the lots, including any building
or improvement thereon, or any units thereof, must
conform with the rules and guidelines issued by the HLURB.
ADVERTISEMENTS
Truth In Advertising
Design and
Standards, Amenities
and Period of Completion
All representation and description in the advertisement
pertaining to a project’s designs and standards, amenities,
facilities, infrastructures and improvements, and its period
of development and completion must strictly conform
with the project’s approved site development plans,
architectural plans and work programs.
Only such amenities and improvements specified in the approved
site development and architectural plans of the project may be
included or illustrated in the advertisement. Otherwise, the
owner or developer shall be liable in accordance with
Section 22 hereof [WARRANTIES]
ADVERTISEMENTS
Truth In Advertising
Pictures
And Illustrations
Any picture or illustration of the project, or any of its
features, facilities, or amenities that may be
included or depicted in the advertisement shall be
captioned as "actual photographs", "architect's
perspective", "artist's illustrations" or such other
similar captions, as the case may be.
ADVERTISEMENTS
Truth In Advertising
Payment and Financing
Schemes
No mode or manner of payment and financing, including the
amount of reservation fee, initial deposit or downpayment,
required equity, installment plans, schedule and escalation, and
discounts and interest rates shall be included in an advertisement
unless such payment and financing scheme is fully disclosed in
the advertisement and in accordance with the terms and
conditions stipulated in the purchase reservation, contract
to sell, or any other form or document relating to or which
may be used in the sale of the lots, including any building
or improvement thereon, or any units of the project, or
in the sale of privileges connected with the project.
ADVERTISEMENTS
Truth In Advertising
Payment and Financing
Schemes
Any representation on the amount of monthly installments
dependent on approved credit or financing, whether
in-house or third-party financing, must not be misleading
and shall state the financing source and availability,
the true terms, rates, charges, fees and penalties
prevailing or applicable at the time of the sale transaction
so as to enable a prospective buyer to make an informed
choice about the actual cost of financing of such purchase.
Any interest rate must be stated in
terms of annual percentage rate.
ADVERTISEMENTS
Truth In Advertising
Location and Distance
The location and distance of a project must be stated
in a manner that will not tend to mislead the public or
prospective buyers of its proximity, accessibility and value.
Any statement of the project’s location and distance in
relation to a known place or landmark shall be expressed
in terms of kilometers, and any vicinity map illustrating
such proximity to known places or landmarks must
similarly indicate such distance or distances in
terms of kilometers.
ADVERTISEMENTS
Truth In Advertising
To enable the public or prospective buyers to
make an informed choice on their purchase or
acquisition, any advertisement about a project
must indicate material facts, and all announcements
and advertisements shall not include
any prohibited statement or information, as
may be provided under the rules and guidelines
issued by the HLURB.
ADVERTISEMENTS
Truth In Advertising
Prohibited
Statements and Information
in an Announcement
The office address or contact numbers or
information of the owner, developer or dealer
The names and office address or contact
numbers of any of the project’s authorized
broker/s or salesperson/s
Any other information or statement which
directly or indirectly conveys or suggests the
sale or marketing of any of the lots, including
any building or improvement thereon, or any
units of a project
ADVERTISEMENTS
Truth In Advertising
Prohibited
Statements and Information
in an Announcement
Any of these prohibited information or statement cannot
be included in an announcement material by inserting,
stapling, pasting, attaching, or by any manner that may
serve to incorporate such prohibited information or
statement
A violation hereof shall be deemed as selling without a
license and shall be subject to appropriate sanctions and
penalties as provided by P.D. 957, its implementing rules,
regulations, and the guidelines herein provided.
ADVERTISEMENTS
Truth In Advertising
Prohibited
Statements and Information
in an Advertisement
The following statements or information shall
not be included in any advertisement:
Disclaimer(s)
Any other or future project or development not
covered by the license to sell stated therein,
unless such other or future projects are
included in a cluster development
Exaggerations or misleading information
either by text, illustration or pictures
ADVERTISEMENTS
Truth In Advertising
Mandatory
Contents in Print Advertising
All print advertising including billboards and signages
shall include or indicate material facts and information
so as to fairly inform the public about a project.
The advertisement shall include:
The name(s) of the owner(s) and/or
developer(s) of the project
The exact location of the project
including street name, barangay,
and city or municipality
The License to Sell or Amended
License to Sell Number;
ADVERTISEMENTS
Truth In Advertising
Mandatory
Contents in Print Advertising
All print advertising including billboards and signages
shall include or indicate material facts and information
so as to fairly inform the public about a project.
The advertisement shall include:
The Advertisement Approval Number
The approved project completion date
as indicated in the license to sell; and
The maximum selling price in case of
economic and socialized housing projects
Any print advertisement that includes the names or offices
of the dealer or any the project’s authorized broker/s
or salesperson/s shall likewise indicate their
corresponding HLURB’s registration numbers
ADVERTISEMENTS
Truth In Advertising
Mandatory
Contents in Broadcast Advertising
All broadcast advertising shall include or indicate material
facts and information so as to fairly inform the public
about a project. The advertisement shall include:
The name(s) of the owner(s) and/or
developer(s) of the project
The location of the project
including the name of the barangay,
and city or municipality
The License to Sell or Amended
License to Sell Number;
ADVERTISEMENTS
Truth In Advertising
Other
Advertising Requirements
In print advertising, the license to sell number must
be of the same font type and size, and resolution
as the advertiser’s telephone number.
In all cases, the mandatory contents shall
be readable or comprehensible.
ADVERTISEMENTS
Truth In Advertising
Cluster Development
In case of an advertisement of a project or projects
included in a cluster development, the other projects,
developments and infrastructures included in the project’s
master plan shall be indicated in the advertisement.
However, such advertisement must clearly specify which of
those projects are already covered by licenses to sell.
ADVERTISEMENTS
Application
and Approval
Approval of the Advertisement
The owner/developer, dealer, or the authorized
broker/s or salesperson/s shall be allowed to advertise
about the project only after:
The issuance of the project’s
license to sell; and
The HLURB has approved the
advertisement material in accordance
with its issued rules and guidelines
Such approval may however be suspended or revoked in case
of violation of the terms and conditions of the advertisement
approval or by reason of any violation of the rules and
regulations issued by the HLURB
ADVERTISEMENTS
Application
and Approval
Approval of the Advertisement
Projects licensed by one and the same RFO may be
included in one material and shall be subject to one
advertisement approval. Otherwise, a single
advertisement about several projects registered in
different RFOs are required to be approved first
by all of the RFOs where the projects are
respectively registered.
ADVERTISEMENTS
Application
and Approval
Documentary Requirements
The following requirements are to be submitted for
every application for advertisement approval:
Two copies of notarized application;
At least two copies of the proposed
advertisement material;
Copy of the license to sell, if already issued;
Marketing agreement between owner/developer
and broker/salesperson with authorization to
advertise, if application is filed by the broker
or salesperson.
Application
and Approval
ADVERTISEMENTS
Fees
Fees shall be collected upon the filing of application in
accordance with the approved Schedule of Fees.
[2013 Revised Schedule of Fees]
[ Board Resolution No. 912, Series of 2013]
P 720.00
Application
and Approval
ADVERTISEMENTS
Review and Approval
The contents and representations contained in the submitted
material shall be reviewed in accordance with the guidelines
provided under Sub-Rules II-A and II-B:
Truth in Advertising
Design and Standards,
Amenities and Period
of Completion
Location and Distance
Prohibited Information
and Statements
Pictures and
Illustrations
Mandatory Contents
Payment and
Financing Schemes
Size, fonts, resolution
ADVERTISEMENTS
Monitoring,
Warranties
Offenses
and
and
Liabilities
Sanctions
Warranties and Liabilities
All representations are enforceable warranties;
Owner/developer is answerable for all the
improvements or amenities represented in
an advertisement even if not included in the
approved plan, specifications, or program;
Failure to timely and completely develop
and deliver all of the representations is
breach of warranty subject to imposition
of fines, penalties and damages
ADVERTISEMENTS
Monitoring, Offenses
and Sanctions
Monitoring
The HLURB may, motu proprio or upon verified complaint,
exercise its right to monitor all announcements
and advertisements and impose appropriate sanctions
in case of violation or non-compliance
ADVERTISEMENTS
Monitoring, Offenses
and Sanctions
Violationsand Advertisements
Prohibited Announcements
Announcements not complying with
HLURB’s existing rules and guidelines
1. With telephone number / contact
information of owner/developer
2. Disseminated by, or includes
names/contact information of
dealers, brokers or salesmen
3. Sells or conveys/suggests
selling or marketing
4. Incorporates prohibited
information through attaching,
stapling, pasting, etc.
ADVERTISEMENTS
Monitoring, Offenses
and Sanctions
Prohibited Announcements and Advertisements
Announcements not complying with
HLURB’s existing rules and guidelines
Advertisements without prior approval;
Advertisements that deviate from
the approved material;
Advertisements that fail to comply with
the terms and conditions of the approval;
ADVERTISEMENTS
Monitoring, Offenses
and Sanctions
Violations
EVERY PUBLICATION
OR PRINTING
/ NEWSPAPER
/ ISSUE
EVERY AIRING
OR BROADCASTING
/ CHANNEL / STATION
/ PER COMMERCIAL
SEPARATE VIOLATION
SEPARATE SANCTIONS
AND PENALTIES
ADVERTISEMENTS
Monitoring, Offenses
and Sanctions
Violations
EXCEPTION:
OUT-OF-HOME ADVERTISEMENTS
Billboards
Banners
Tarpaulins
Transit Ads
Digital Displays
DISPLAYING IDENTICAL
CONTENTS OR MATERIALS
SINGLE ADVERTISING
ADVERTISEMENTS
Monitoring, Offenses
and Sanctions
Revocation of the Advertisement Approval
A CDO or suspension of license to sell
SUSPENDS the advertisement approval
Upon receipt of such order,
the developer shall immediately desist
from advertising the project
CONTINUED ADVERTISING IS
SELLING WITHOUT LICENSE
ADVERTISEMENTS
Monitoring, Offenses
and Sanctions
Revocation of the Advertisement Approval
Deviation from the approved contents or failure to
comply with the terms and conditions of the
advertisement approval is a ground for revocation
Upon receipt of the order of revocation,
the developer shall immediately cease
and stop its dissemination.
Any alteration of plan resulting to any change in
the amenities, facilities, infrastructure or other
developments featured in the advertisement,
whether approved or not, shall also ipso facto
revoke the approval of any or all previouslyapproved advertisements
ADVERTISEMENTS
Monitoring, Offenses
and Sanctions
Transitory Provision
All advertisers with existing announcements and
advertisements, including billboards, not complying
with the foregoing Rules and Guidelines shall,
WITHIN 60 DAYS from effectivity of this Rules,
cease and desist from using the advertisements, until such
time the same has been amended and accordingly approved.
BROKERS, DEALERS
AND SALESPERSONS
REVISED IMPLEMENTING RULES AND REGULATIONS
TO GOVERN DEALERS, BROKERS AND SALESMEN OF
SUBDIVISION AND CONDOMINIUM PROJECTS UNDER
PRESIDENTIAL DECREE NO. 957, OTHERWISE KNOWN
AS THE “SUBDIVISION AND CONDOMINIUM BUYERS’
PROTECTIVE DECREE” AND ALL OTHER
PROJECTS REQUIRED BY LAW TO BE
REGISTERED WITH THE HOUSING AND
LAND USE REGULATORY BOARD
BROKERS, DEALERS
AND SALESPERSONS
PRACTICE OF REAL
ESTATE SERVICE
DEFINITIONS
PRACTICE OF REAL ESTATE SERVICE
Any of the acts or transactions of a dealer, broker, or
salesperson with respect to any project required by law
to be registered with the HLURB
In the case of brokers and salesmen, any single act
or transaction thereof shall constitute practice of
real estate service
BROKERS, DEALERS
AND SALESPERSONS
PRACTICE OF REAL
ESTATE SERVICE
DEFINITIONS
Dealer
Any person directly engaged as principal in
the business of buying and selling of real
estate, whether on a full-time or part-time basis
Broker
Any person who, for commission or other
compensation, undertakes to sell or negotiate
the sale of a real estate belonging to another
Salesman
Any person engaged or regularly employed by a
broker to perform, for and in his behalf, any or all
functions of a real estate broker. A salesman
may also be engaged or regularly employed by a
dealer.
BROKERS, DEALERS
AND SALESPERSONS
PRACTICE OF REAL
ESTATE SERVICE
BUSINESS FIRMS
P.D. NO.
957
“PERSON” shall mean a natural or a juridical
person. A juridical person refers to a business
firm whether a corporation, partnership,
cooperative, or association, or a single
proprietorship.
“BUSINESS FIRMS” refers to any corporation,
partnership, cooperative or association, or
single proprietorship, that is required by
PD 957 to be registered first with the
HLURB before it can engage in the practice
of real estate service with any project
required by law to be registered with the HLURB
BROKERS, DEALERS
AND SALESPERSONS
REQUIREMENT OF
REGISTRATION
REGISTRATION AND ACCREDITATION
REQUIREMENTS UNDER RESA LAW AND PD 957
Republic Act No. 9646 otherwise known as the “Real Estate
Service Act of the Philippines” requires all brokers and
salespersons to be respectively licensed and accredited by the
Professional Regulatory Board of Real Estate Service (PRBRES)
before they can engage in the practice of real estate service.
IN ADDITION THERETO, as separately required under P.D. No. 957,
before any dealer, or any PRBRES-registered broker or PRBRESaccredited salesperson can engage in the practice of real estate
service specifically with respect to projects required by law to
be registered with the HLURB, such dealer, licensed broker
or accredited salesperson shall first register with the HLURB
in accordance with the rules and guidelines herein provided.
BROKERS, DEALERS
AND SALESPERSONS
R. A. NO.
9646
P.D. NO.
957
REQUIREMENT OF
REGISTRATION
Requirement of registration for brokers
and accreditation for salespersons engaged
in the practice of real estate service for all
kinds of real estate transaction
In addition to the requirements under R.A.
No. 9646, dealers, and licensed brokers and
accredited salespersons are still required to
register with HLURB to engage in the practice of
real estate service with projects required by law
and regulations to be registered with the HLURB
BROKERS, DEALERS
AND SALESPERSONS
REQUIREMENT
PROCEDURE FOR
OF
REGISTRATION
BOND OR SECURITY
Dealers
or Brokers
P 5,000.00
Salesmen
P 1,000.00
Business
Firms
P 20,000.00
BROKERS, DEALERS
AND SALESPERSONS
PROCEDURE FOR
REGISTRATION
APPLICATION AND REQUIREMENTS
Applicants shall register with the Regional Field Office (RFO)
where the applicant resides or where his office is located.
Sworn Application for Registration
Recent 2 x 2 photo
DEALER
Valid NBI or court clearance
Bond or security
Official receipt evidencing
payment of the registration fee
P720
BROKERS, DEALERS
AND SALESPERSONS
PROCEDURE FOR
REGISTRATION
APPLICATION AND REQUIREMENTS
Applicants shall register with the Regional Field Office (RFO)
where the applicant resides or where his office is located.
Sworn Application for Registration
Recent 2 x 2 photo
PRBRESLICENSED
BROKER
Photocopy of PRBRES-Issued Certificate of Registration and Professional
Identification Card, or any other
sufficient proof of PRBRES licensure
Bond or security
Official receipt evidencing payment
of the registration fee
P720
BROKERS, DEALERS
AND SALESPERSONS
PROCEDURE FOR
REGISTRATION
APPLICATION AND REQUIREMENTS
Applicants shall register with the Regional Field Office (RFO)
where the applicant resides or where his office is located.
Sworn Application for Registration
PRBRESACCREDITED
BUSINESS
FIRMS
SALESPERSON
Recent 2 x 2 photo
Photocopy of PRBRES-Issued Certificate of Accreditation and Professional Identification Card, or any other
sufficient proof of PRBRES
-accreditation
Bond or security
Official receipt evidencing payment
of the registration fee
P288
BROKERS, DEALERS
AND SALESPERSONS
PROCEDURE FOR
REGISTRATION
APPLICATION
RENEWAL OF
AND
REGISTRATION
REQUIREMENTS
Applicants shall register with the Regional Field Office (RFO)
where the applicant resides or where his office is located.
Sworn Application for Registration
Secretary’s Certificate or
Authorization of the representative
BUSINESS
FIRMS
Photocopy of SEC, DTI or CDA
Certificateof Registration & Articles
of Incorporation or Cooperation
Bond or security
Official receipt evidencing payment
of the registration fee
List of engaged brokers
and/or salespersons
P720
BROKERS, DEALERS
AND SALESPERSONS
PROCEDURE FOR
REGISTRATION
RENEWAL
OTHER
OFFEATURES
REGISTRATION
Every registration shall expire on the thirty-first
of December each year and shall be renewed
during the month of November
Renewal filed after the prescribed period shall be
treated as original registration
BROKERS, DEALERS
AND SALESPERSONS
PROCEDURE
SUSPENSION
FOR
AND
REGISTRATION
REVOCATION
OTHER FEATURES
Issuance of Certificate of Registration
and Identification Card
Display of Certificate of Registration and
Identification Card
BROKERS, DEALERS
AND SALESPERSONS
OFFENSES
SUSPENSION
AND
ANDPENALTIES
REVOCATION
PROCEDURE & EFFECTS
Suspension pending investigation;
Notice and Hearing
Suspension or revocation of PRBRES registration
or accreditation automatically suspends or
revokes HLURB registration
Suspension or revocation of Business Firms’
Registration automatically suspends or revokes
brokers’ or salespersons’ authorization for such
project/s
Suspension or revocation of salespersons’
registration suspends or revokes brokers’ or
dealers’ registration who knowingly permitted
or allowed the prohibited acts
BROKERS, DEALERS
AND SALESPERSONS
OFFENSES AND
PENALTIES
PROHIBITED
FORFEITUREPRACTICES
OF BOND
WITHOUT
REGISTRATION
P 10,000.00
EXPIRED
REGISTRATION
P 5,000.00
WITHOUT
LICENSE TO SELL
Penalty for each act of selling
in accordance with HLURB’s
Schedule of Fines and Penalties
Criminal Prosecution
BROKERS, DEALERS
AND SALESPERSONS
OFFENSES AND
PENALTIES
ADMINISTRATIVE
FORFEITURE OF BOND
FINES
Violation of any provision of P.D. No. 957
or any of its rules or regulations,
INCLUDING SELLING OF LOTS/UNITS OF ANY
PROJECT WITH NO LICENSE TO SELL
Material false statement in the
application for registration
Fraudulent act in connection with any
sale of a lot or unit in any project
Unworthiness to engage in the practice
of real estate service
BROKERS, DEALERS
AND SALESPERSONS
OFFENSES AND
PENALTIES
TRANSITORY
ADMINISTRATIVE
PROVISION
FINES
FIRST OFFENSE
P 5,000.00
SECOND
OFFENSE
P 10,000.00
Revocation of HLURB
Registration and Disqualification
Recommendation for the
Revocation of PRBRES
Registration or Accreditation
BROKERS, DEALERS
AND SALESPERSONS
OFFENSES AND
PENALTIES
TRANSITORY PROVISION
Upon effectivity of this Rules, all dealers, brokers and salespersons
who have been engaged in the practice of real estate service and
who have failed to register or renew their registration with the
HLURB shall be given a period of sixty (60) days within which
to register or renew and shall be exempt from the imposition of fines
provided in the HLURB’s Revised Schedule of Fines for
failure to register or renew.
MINIMUM
P200-500
MEDIUM
P501-700
MAXIMUM
P701-1000
BROKERS, DEALERS
AND SALESPERSONS
OFFENSES AND
PENALTIES
TRANSITORY PROVISION
All business firms who have been engaged in the practice of real
estate service shall, upon effectivity of this Rules, likewise be given
a period of sixty (60) days within which to register.
Notwithstanding the foregoing, the non-imposition of fine as herein
provided during the sixty (60) – day transitory period shall not
prejudice the enforcement of Sections 11 (Practicing Real Estate
Service Without Registration) and 12 (Practicing Real Estate Service
With Expired Registration).
Thank you.