Practice question
A bank president’s annual salary is P3.6 million. What is the highest annual remuneration the Monetary Board may fix for its conservator under Section 29, assuming no other issue?
- P3.6 million
- P7.2 million
- P1.2 million
- P2.4 million
- An unlimited amount
Legal references
- RA 7653, Section 29 (conservatorship): https://lawphil.net/statutes/repacts/ra1993/ra_7653_1993.html
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