Practice question
A privately owned foreign company proposes to acquire 60% of an entity managing critical infrastructure after its classification. Assume it is otherwise eligible and Section 25 applies. Its home country grants Philippine nationals qualifying reciprocal rights under its law. Which statement is correct?
- Reciprocity is irrelevant above 50%.
- Reciprocity can never arise under foreign law.
- Reciprocity automatically eliminates every other regulatory requirement.
- The foreign law may satisfy the reciprocity condition, subject to establishing the requisite rights.
- The company may replace legal proof with its director's personal assurance.
Legal references
- RA 11659, Section 25; https://lawphil.net/statutes/repacts/ra2022/ra_11659_2022.html
- 2023 IRR of RA 11659, Section 45; https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/97017
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