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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

Before RA 11659 took effect, an ordinary foreign state-owned enterprise lawfully held capital in a Philippine public utility. It is not a sovereign wealth or independent pension fund. May it rely on its old holding to subscribe for additional capital after effectivity?

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Yes, because only complete acquisitions are restricted. Yes, provided the subscription occurs through a subsidiary. Yes, because an old investment removes all future restrictions. No. Existing capital may be maintained, but additional investment is prohibited under the stated rule.

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