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What is Roy III vs. Herbosa Case Overview about?

The Supreme Court upheld the validity of SEC-MC No. 8 issued by the Securities and Exchange Commission (SEC) regarding the guidelines on foreign ownership restrictions in public utilities. The Court found that SEC-MC No. 8, which requires 60-40 Filipino-foreign ownership applied to both voting and non-voting shares, adhered to both the letter and spirit of the Gamboa Decision that defined "capital" in the Constitution as referring to voting shares. While SEC-MC No. 8 did not expressly mention the beneficial

Author

TeacherEli

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EN