Section 4
SEC. 4. Section 24(e) of the same Code is hereby amended by adding a new paragraph to read as follows: “SEC. 24(e). The foregoing provisions shall not apply to banks, non-bank financial intermediaries or corporations organized primarily, and authorized by the Central Bank of the Philippines to hold shares of stocks of bank unless – (A) more than twenty (20%) per cent of all classes of stock entitled to vote of such corporation is held by: (i) persons related to each other within the third degree of consanguinity or affinity, or (ii) a corporation the majority of shares are owned by the same person or so related persons.”