Practice question
Which authority does New Central Bank Act section 15(a) give the Monetary Board?
- To repeal the Constitution.
- To exempt every private bank from all statutes.
- To let any private lender legislate for the country.
- To issue rules and regulations necessary for effective discharge of the statutory responsibilities and powers.
- To cancel every existing court judgment without legal proceedings.
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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