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Control Test vs. Grandfather Rule Explained by Kareen Moncada is a document available to read on EtoBox.
What is Control Test vs. Grandfather Rule Explained about?
1) The document discusses two tests used in Philippine law to determine the nationality of a corporation: the control test and the grandfather rule. The control test looks at share ownership to determine if 60% is owned by Filipinos, while the grandfather rule is used if there is doubt about meeting the 60-40 requirement. 2) The grandfather rule traces share ownership through multiple corporate layers to identify the ultimate individual owners. The Supreme Court case clarified that the grandfather rule app
- Author
- Kareen Moncada
- Language
- EN