Memorandum Circular No. 112

SECTION 1. A Housing Fair shall be conducted in October 2006 in celebration of the National Shelter Month. The Housing Fair, which shall run to April 2007, shall offer for sale the eligible acquired properties of shelter agencies and government financial institutions, under uniform and reasonable terms and conditions.

SECTION 2. The disposition of eligible acquired properties of the key shelter agencies and government financial institutions, including those that have not been auctioned off, shall be opened to all government employees, including members of the Armed Forces of the Philippines, Philippine National Police, Bureau of Jail Management and Penology, Bureau of Fire Protection, elective officials, and employees of local government units. The acquired properties of the Social Security System and the Home Development Mutual Fund shall also be offered to their respective members under the same terms and conditions provided to the government employees. For this purpose, the requirement for government agencies to publish their acquired properties, prior to disposition, shall be temporarily lifted during the duration of the Housing Fair. Payments for housing units that will be sold during the Housing Fair shall be subject to salary deduction; provided that the authorized deductions shall not reduce the monthly net take-home pay of any employee to an amount lower than Three Thousand Pesos (P3,000.00) pursuant to Section 41 of Republic Act No. 9336.

SECTION 3. An Inter-agency Committee shall be created to set forth the terms and conditions for the sale of eligible acquired properties under this program. The Inter-agency Committee shall be composed of at the following:

SECTION 4. All government employers are hereby enjoined to allow their interested employees to participate in the Housing Fair. Chairman - Housing and Urban Development Coordinating Council Members - Home Development Mutual Fund National Home Mortgage Finance Corporation Home Guaranty Corporation National Housing Authority Bangko Sentral ng Pilipinas Social Security System Government Service Insurance System Land Bank of the Philippines Development Bank of the Philippines Philippine Government Employees Association Private Developers Group

This Memorandum Circular shall take effect immediately

SECTION 5. This Memorandum Circular shall take effect immediately. Done in the City of Manila, this 7th day of September in the Year of Our Lord Two Thousand and Six. (Sgd.) GLORIA MACAPAGAL-ARROYO By the President: (Sgd.) EDUARDO R. ERMITA Executive Secretary