Practice question
AMLC applies ex parte for an inquiry into specified peso and protected foreign-currency accounts. A competent court finds the statutory probable cause and issues an otherwise valid order under AMLA Section11; all constitutional and related-account requirements are met. The depositor objects solely that RA1405 and RA6426 require written consent in every possible inquiry. Which answer is correct?
- The AMLA statutory inquiry route operates notwithstanding those secrecy laws on the stated predicates
- Written depositor consent is indispensable to every AMLA inquiry
- Only peso accounts can ever be reached by that notwithstanding clause
- A valid inquiry order is automatically a public-release order
- AMLC needs no legal predicate for any account inquiry
Legal references
- RA10167 Section2 amending AMLA Section11: https://lawphil.net/statutes/repacts/ra2012/ra_10167_2012.html Judicial inquiry authority and constitutional safeguards.
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