Practice question
A validly convened ordinary Monetary Board meeting has four members including the Governor. Only three vote for a proposal. Explain the difference between quorum and concurrence under section 11 as amended, and whether videoconferencing changes either requirement.
Legal references
- New Central Bank Act, RA 7653, sections 6, 14–15, https://lawphil.net/statutes/repacts/ra1993/ra_7653_1993.html
- RA 11211, sections 2–3 amending New Central Bank Act sections 3 and 11, https://lawphil.net/statutes/repacts/ra2019/ra_11211_2019.html
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