Practice question
A qualifying sovereign wealth fund seeks a permitted within-ceiling holding but refuses every request for proof of adherence to the stated management principles. It says remaining below the ceiling automatically satisfies all of Section44(d). Which is best?
- A within-ceiling percentage eliminates every documentary condition.
- Only the fund's social-media profile matters.
- The agency may not request any proof from sovereign wealth funds.
- The fund automatically becomes a Philippine national when below the ceiling.
- The percentage ceiling and the management-proof requirement are distinct conditions.
Legal references
- RA 11659, amending CA146, public-utility definition and national-security safeguards: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/94539
- Signed March 20, 2023 implementing rules of RA11659, Sections 5-7 and 32-45: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/97017
Answer this question in flashcards to review your response and continue practicing.