Practice question
A proposed merger of specially regulated financial institutions receives a favorable PCC ruling. The parties still lack a required favorable recommendation from their appropriate sector regulator and argue that PCC review automatically substitutes for it. Which conclusion best reflects section 17?
- PCC approval abolishes every sector law.
- The favorable PCC ruling does not by itself dispense with the separately required sector recommendation.
- Only private shareholder preference decides whether sector regulation applies.
- Any financial institution is automatically exempt from all merger review.
- A competition ruling automatically amends every corporate charter.
Legal references
- PCC Memorandum Circular No. 26-001, effective 1 March 2026, https://www.phcc.gov.ph/file-manager/file-manager/MAO/Memorandum%20Circular_Merger%20Notification%20Thresholds.pdf
- Philippine Competition Act, RA 10667, sections 16–19, https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/63120
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