MORNBFI Vol. 1 - Planters Development Bank

APP. Q-2508.12.314. All relevant information as to thenature of the monetary instrument orproperty;5. Any information on the related webof accounts pertaining to the monetaryinstrument or property subject of the freezeorder; and6. The time when the freeze thereontook effect.Rule 10.4. Definition of Related Web ofAccounts. -Related Web of Accounts pertaining tothe money instrument or property subject ofthe freeze order is defined as those accounts,the funds and sources of which originatedfrom and/or are materially linked to themonetary instrument(s) or property(ies)subject of the freeze order(s).Upon receipt of the freeze order issuedby the court of appeals and uponverification by the covered institution thatthe related web of accounts originated fromand/or are materially linked to themonetary instrument or property subjectof the freeze order, the covered institutionshall freeze these related web of accountswherever these funds may be found.The return of the covered institution asrequired under rule 10.3.c shall include thefact of such freezing and an explanation asto the grounds for the identification of therelated web of accounts.Rule 10.5. Extension of the Freeze Order.- Before the twenty (20) day period of thefreeze order issued by the court of appealsexpires, the AMLC may apply in the samecourt for an extension of said period. Uponthe timely filing of such application andpending the decision of the Court ofAppeals to extend the period, said periodshall be deemed suspended and the freezeorder shall remain effective.However, the covered institution shallnot lift the effects of the freeze order withoutsecuring official confirmation from the AMLC.Rule 10.6. Prohibition Against Issuanceof Freeze Orders Against Candidates foran Electoral Office During ElectionPeriod. - No assets shall be frozen to theprejudice of a candidate for an electoraloffice during an election period.RULE 11AUTHORITY TO INQUIRE INTOBANK DEPOSITSRule 11.1. Authority to Inquire into BankDeposits with Court Order. -Notwithstanding the provisions ofR.A. No. 1405, as amended; R.A. No. 6426,as amended; R.A. No. 8791, and other laws,the AMLC may inquire into or examine anyparticular deposit or investment with anybanking institution or non-bank financialinstitution and their subsidiaries and affiliatesupon order of any competent court in casesof violation of this Act, when it has beenestablished that there is probable cause thatthe deposits or investments involved arerelated to an unlawful activity as defined inSection 3 (i) hereof or a money launderingoffense under Section 4 hereof; except incases as provided under Rule 11.2.Rule 11.2. Authority to Inquire into BankDeposits Without Court Order. - TheAMLC may inquire into or examine depositand investments with any banking institutionor non-bank financial institution and theirsubsidiaries and affiliates without a CourtOrder where any of the following unlawfulactivities are involved:(a) Kidnapping for ransom under Article267 of Act No. 3815, otherwise known asthe Revised Penal Code, as amended;(b) Sections 4,5,6, 8, 9, 10. 12, 13, 14,15 and 16 of R.A. No. 9165, otherwiseknown as the Comprehensive DangerousDrugs Act of 2002;(c) Hijacking and other violations underR.A. No. 6235; destructive arson andmurder, as defined under the RevisedQ RegulationsAppendix Q-25 - Page 18Manual of Regulations for Non-Bank Financial Institutions