Commercial Law, 2012 Bar — Question 89

MULTIPLE CHOICE

The main feature of the Foreign Investment Act of 1991 is to introduce the concept of “Negative Lists". Under the said law, what is a “Negative List”? A) It is a list of business activities or enterprises in the Philippines that foreigners are disqualified to engage in. B) It is a list of business activities or enterprises in the Philippines that foreigners are qualified to engage in. C) It is a list of business activities or enterprises that are open to foreign investments provided it is with the approval of the Board of Investment. D) It is a list of business activities or enterprises that are open to foreign investments provided it is with the approval of the Securities and Exchange Commission.

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