Practice question
Parties to a transaction satisfying Section36 deliberately submit no voluntary declaration and claim that omission makes the agency powerless to review. Which is best?
- Section38 permits the relevant department or agency to initiate review motu proprio.
- Nonfiling necessarily extinguishes the review power.
- Only the buyer's home government may initiate any review.
- Every unfiled transaction automatically becomes domestically owned.
- The agency must wait until every target asset has been sold.
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
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