MANILA, Philippines: The government on Saturday released the revised implementing rules and regulations of the Maharlika Investment Fund that gives authority to the President to handpick those who will join the board of the Maharlika Investment Corp. .President Ferdinand Marcos Jr. has ordered the review of the IRR of Republic Act 11954, or the law establishing the MIF, to make sure safeguards are in place to guarantee transparency and accountability in carrying out the provisions of the law.
'In the interest and exigency of service, the Advisory Board shall submit to the Office of the President the list of nominees to vacant Regular and Independent Director, and the PCEO positions not later than 30 days from such vacancy,' the provision of the revised IRR read.
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