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An Act to Further Liberalize Foreign Investments (amending the Foreign Investment Act of 1991)

AN ACT TO FURTHER LIBERALIZE FOREIGN INVESTMENTS, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 7042, AND FOR OTHER PURPOSES

R.A. No. 8179 | 1996-03-28

REPUBLIC ACT NO. 8179
 
AN ACT TO FURTHER LIBERALIZE FOREIGN INVESTMENTS, AMENDING FOR THE PURPOSE REPUBLIC ACT NO. 7042, AND FOR OTHER PURPOSES
 
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. Section 3, paragraph (a), of Republic Act No. 7042, otherwise known as the "Foreign Investment Act of 1991," is hereby amended to read as follows:
 
"Section 3. Definitions. - As used in this Act:

The term Philippine national shall mean a citizen of the Philippines, or a domestic partnership or association wholly owned by citizens of the Philippines; or a...