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This document provides an opinion from the Securities and Exchange Commission of the Philippines regarding whether a publicly listed domestic corporation can elect foreigners as members of the boards of directors of its wholly-owned subsidiaries. The SEC opinion is that the domestic corporation, and not its foreign shareholders, has the right to elect directors for its subsidiaries. The domestic corporation can designate up to two foreigners as "nominee directors" for each subsidiary as long as they each ho

Author

Jakko Malutao

Language

EN