A PETITION was filed on Monday before the Supreme Court seeking to declare unconstitutional the approval on third reading by the House of Representatives of the Maharlika Investment Fund bill.
The petitioners—Bayan Muna Chairman Neri Colmenares, former Bayan Muna Representative Carlos Isagani Zarate, ACT Teachers Partylist Rep. Francisca “France” Castro, Gabriela Women’s Party Rep. Arlene Brosas and Kabataan Partylist Rep. Raoul Danniel Manuel—clarified that the petition does not question the legality of the Marcos administration’s plan to create the so-called Maharlika Investment Fund as part of its long-term economic program to address lack of foreign investments in the country.
Article VI, Section 26 states that “no bill passed by either House shall become a law unless it has passed three readings on separate days, and printed copies thereof in its final form have been distributed to its members three days before its passage, except when the President certifies to the necessity of its immediate enactment to meet a public calamity or emergency.”
They noted that “when the President certifies a bill as urgent in one house of Congress but not in the other, this constitutes a distorted and a grave abuse of discretion in the exercise of presidential power under Article VI, Section 26 and the President is clearly circumventing the legislative process in the other house without certifying the bill as urgent.”
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: gmanews - 🏆 11. / 68 Read more »
Source: gmanews - 🏆 11. / 68 Read more »
Source: inquirerdotnet - 🏆 3. / 86 Read more »
Source: gmanews - 🏆 11. / 68 Read more »