Practice question
A security is guaranteed by a foreign government with which the Philippines maintains diplomatic relations. Explain the additional reciprocity and disclosure qualifications of Section9.1(b). Separately, explain why a Philippine private company receiving an ordinary government grant does not thereby prove that its notes are government-guaranteed securities under Section9.1(a).
Legal references
- RA8799 Securities Regulation Code: https://lawphil.net/statutes/repacts/ra2000/ra_8799_2000.html Section9.1(a)–(b).
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