Practice question
Four Monetary Board members attend a proposed ordinary meeting, but neither the Governor nor his duly designated alternate attends. The four argue that headcount alone necessarily satisfies section 11. No special provision permits a different procedure. Which answer is best?
- Any four persons in the room constitute a quorum.
- The absence automatically converts them into the Senate.
- The four-member quorum rule also requires the Governor or duly designated alternate to be included; the stated attendance is insufficient.
- A private bank president automatically fills the absent statutory role.
- Their unanimous vote cures every quorum condition.
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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