some highlights:

Authorization of commemorative plates will no longer be granted upon implementation of the vanity plates program. However, existing commemorative plates shall be allowed to mature its validity period with no further extension.
The physical service life of the VLP shall be within a period of five (5) years. After which, the VLP owner shall request for re- issuance of new plate bearing the same alphanumeric combination upon payment of re-issuance fee.