What is the meaning of Article 12 national economy and patrimony?
In the grant of rights, privileges, and concessions covering the national economy and patrimony, the State shall give preference to qualified Filipinos. The State shall regulate and exercise authority over foreign investments within its national jurisdiction and in accordance with its national goals and priorities.
What is the meaning of national economy and patrimony?
National patrimony is the store of wealth or accumulated reserves of a national economy. In addition to monetary reserves and other financial holdings, national patrimony also encompasses a nation’s non-monetary wealth or reserves, such as its national monuments, cuisine, and artistic heritage.
What article is the national economy and patrimony?
Article 12
Article 12 national economy and patrimony.
What is the national patrimony under the 1987 Constitution of the Philippines?
Such forest and national parks shall be conserved and may In this Chapter, scopes, limitations and resources of the states patrimony as embodied the 1987 Constitution of the Philippines . It entails the economic provisions and the control and management of national economy and patrimony by Filipino citizens.
What is national patrimony in the Philippines?
What does patrimony mean in law?
Legal Definition of patrimony 1 : an estate inherited from one’s father or ancestor to deprive her and her coheirs of their patrimony — Wells Fargo Bank v. Kincaid, 260 Cal. App. 2d 120 (1968) 2 : an estate or endowment belonging to a church the property of a dissolved parish shall pass to the patrimony of the diocese.
How do you use patrimony in a sentence?
Patrimony sentence example
- His patrimony and his wife’s dowry must both have been trifling.
- The patrimony of Italian charitable institutions is considerable and is constantly increasing.
What is the authority relating to the State under Article 12?
Article 12 mention is that unless the context otherwise requires, the state includes the government and Parliament of India and the government and the legislature of each of the states and all local and other authorities within the territory of India or under the control of the government of India.
What are authorities in Article 12?
The expression ‘other authorities’ will include all constitutional or statutory authorities on whom powers are conferred for the purpose of promoting economic activities.