No person shall be a member of the Monetary Board if he has been connected directly with any multilateral banking or financial institution or has a substantial interest in any private bank in the Philippines, within one 1 year prior to his appointment; likewise, no member of the Monetary Board shall be employed in any such institution within two 2 years after the expiration of his term except when he serves as an official representative of the Philippine Government to such institution. Failure to comply with the reportorial requirements pursuant to this article without justifiable reason as may be determined by the Monetary Board shall cause the withholding of the salary of the personnel concerned until the requirements are complied with. For any further clarifications, please contact the base Branch...
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