Section 47Sec./Art. 47

Tolerating Graft and Corrupt Practices; Penalties.-A director or officer of the MIC who fails to sanction, report, or file the appropriate action with proper agencies, allows or tolerates graft and corrupt practices or fraudulent acts committed by a director, officer, employee. agent or representative shall be punished with a fine ranging from Five million pesos (P5,000,000,00) to Ten million pesos (P10,000,000.00), imprisonment of twenty (20) years, and perpetual disqualification from holding public office.