Practice question
A foreign state-owned enterprise already held capital in critical infrastructure before RA 11659 took effect. It argues that grandfathering necessarily permits unlimited additional investment afterward. Which is correct under section 24?
- All future additions are automatically protected
- Preexisting holdings do not create unlimited future rights; the statute prohibits additional capital investment, subject to its stated fund exception
- Every old holding automatically vanishes
- Only the entity’s logo decides
- State ownership is irrelevant under the section
Legal references
- https://lawphil.net/statutes/repacts/ra2022/ra_11659_2022.html — RA 11659, sections 2(e), 24 and 25
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