Section 17
SEC. 17. Payments in Foreign Currency, (a) The investment of an international financial institution in the Asset Management Corporation shall be registered, with the Central Bank of the Philippines and, upon such registration, shall, together with dividends and other income that may accrue thereon, be remittable from the Philippines in foreign currency. (b) The Asset Management Corporation may, subject to the prior approval of the Central Bank of the Philippines, agree to pay fees in foreign currency to such international financial institution under any management, consultancy or similar contract with the Asset Management Corporation, and to remiburse foregin currency expenses of such institutions in connection with services provided under such contracts in foreign currency.