Practice question
An investor argues that satisfying section 25 reciprocity automatically removes section 24’s foreign-state-controlled-entity prohibition. Which is best?
- Reciprocity repeals all other safeguards
- All foreign investors are legally identical for every rule
- The provisions impose distinct conditions; reciprocity alone does not erase an applicable section 24 prohibition or other legal limits
- Only the investor’s chosen label matters
- Every critical asset must become foreign-owned
Legal references
- https://lawphil.net/statutes/repacts/ra2022/ra_11659_2022.html — RA 11659, sections 2(e), 24 and 25
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