Commercial Law, 2012 Bar — Question 86
← Commercial LawMULTIPLE CHOICE
Which of the following is an exception to the secrecy of bank deposits which are in Philippine Pesos, but NOT an exception to the secrecy of foreign currency deposits? A) Upon Bangko Sentral ng Pilipinas (BSP) inquiry into or examination of deposits or investments with any bank, when the inquiry or examination is made in the course of the BSP’s periodic special examination of said bank to ensure compliance with the Anti-Money Laundering Act (AMLA); B) Upon Philippine Deposit Insurance Corporation (PDIC) and SSP inquiry into and examination of deposit accounts in case there is a finding of unsafe or unsound banking practice; C) Upon inquiry in cases of impeachment; D) Upon inquiry by the Commissioner of Internal Revenue in the event a taxpayer files an application to compromise his tax liabilities on the ground of financial incapacity.
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