Practice question
At a duly convened Monetary Board meeting, four members including the Governor are present. An ordinary decision receives three affirmative votes. No special statutory decision rule applies. Is the ordinary concurrence requirement met under amended section 11?
- Yes; a majority of those four is always sufficient.
- Yes; quorum alone automatically approves every proposal.
- Yes; the Governor's presence counts as two affirmative votes.
- Yes; one affirmative vote always suffices.
- No; an ordinary decision requires at least four concurring members.
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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