“In the legislative process, you always go back to the transcript of records. That's why I’m not worried with the Supreme Court because we will provide them with the transcript of records of what transpired,” Zubiri told CNN Philippines’President Ferdinand Marcos Jr. on Tuesday signed the controversial Maharlika Investment Fund law that creates the country’s sovereign wealth fund.
One of the issues they will raise is on the approval procedure of the Maharlika fund, after changes in the bill approved by Congress were allegedly discussed on Viber.the alleged “tampering” of the measure after it was approved by Congress. Senator Risa proposed 20 years, Mark Villar said no, we do not accept 20 years, only 10. Very clear in the transcript of records,” he pointed out.
The Senate President said he then received no objections after asking if there were such to the motion of Villar, who was sponsor of the law. In effect, the motion to amend the period to 20 years was lost, Zubiri noted. Zubiri said that “it was just an honest mistake of the secretariat," when it put a prescription period of 20 years.
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