Republic Acts1 min read
Section 4Sec./Art. 4
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Special Purpose Vehicle. An SPV shall be organized as stock corporation in accordance with Batas Pambansa Blg. 68, otherwise known as "The Corporation Code of the Philippines" and the rules promulgated by the Commission for purposes of registering the SPV: Provided, That if the SPV will acquire land, at least sixty percent (60%) of its outstanding capital stock shall be owned by Philippines nationals pursuant to Republic Act No7042, as amended, otherwise known as "The Foreign Investment Act".
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