Quantcast
Latest Stories

Comelec to impose first-ever ‘money ban’

By

Commission on Elections Chairman Sixto Brillantes Jr. INQUIRER FILE PHOTO

MANILA, Philippines – The Commission on Elections (Comelec) issued a resolution Tuesday implementing a “money ban” beginning May 8, a Wednesday, until Monday,  Election Day in a bid to fight vote buying.

Comelec Resolution 9688 promulgated Tuesday bans cash withdrawals from banks of more than P100,000 per day, Comelec chairman Sixto Brillantes Jr. told reporters.

“This is a formal resolution of the Comelec deputizing the Bangko Sentral ng Pilipinas (BSP) to prohibit withdrawals of more than P100,000 per day,” Brillantes said.
Withdrawals above P100,000 done through other means such as checks and wire transfers will not be prohibited, he said.

“Commerce and trade will not be affected with [the limitation of] P100,000 a day,” Brillantes added.

In another provision, the transporting and possession of P500,000 cash will also be prohibited because this would serve as a presumption that the money would be used for vote buying.

According to the resolution, “all existing Comelec checkpoints … are directed to conduct a 24-hour money ban checkpoint, in addition to the gun ban checkpoint.”

The resolution, which was the first of its kind in the country, was passed through a unanimous 7-0 vote, Brillantes said.

“We call it money ban, which means we are banning the withdrawals of cash starting [Wednesday] and up to Election Day,” Brillantes said.

“The threshold amount is we will allow only up to P100,000 per day,” he said.

Conversions of monetary instruments to cash and encashment of checks will also be prohibited. Money changers and lending institutions would also be covered because they are under the BSP.

The BSP however, did not agree with the Comelec’s resolution, he said.

“It’s possible they will not follow us,” Brillantes said.

“They are saying we cannot deputize them,” he said.

The main reason for the resolution was in order to deter vote buying by controlling the flow of money which, historically, increases during the few days before elections, he added.

Brillantes, who has been working as an election lawyer for decades, said that he personally knows that millions of pesos go out of banks just before the election.

There was however no penalty indicated in the resolution.


Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: 2013 elections , Comelec , Nation , News




Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
  1. Henares on Pacquiao bashing: I did not start this
  2. ‘Mom, I love you,’ says text from student on sinking ferry
  3. ‘No real progress in PH if dynasties not dismantled’
  4. More legal woes for Cedric Lee
  5. Massive infra spending set
  6. Kim Henares needs a reprimand, says Cayetano
  7. South Korea president shouted down by distraught parents
  8. Passengers denied chance to escape sinking South Korea ferry
  9. Lacson’s wife loses diamond earring to thieves but recovers jewelry quickly with police arrest
  10. OFW brings MERS virus to Philippines
  1. Kim Henares needs a reprimand, says Cayetano
  2. Suspect in Vhong Navarro mauling tries to leave PH
  3. Fr. Suarez says last Mass on Easter before returning donated land to San Miguel
  4. MH370 co-pilot made mid-flight phone call – report
  5. More legal woes for Cedric Lee
  6. I’ll follow my conscience on Estrada, says JV Ejercito
  7. ‘Wife of Jesus’ theory papyrus not fake – Harvard study
  8. Gay college instructor arrested for oral sex with student
  9. ‘No real progress in PH if dynasties not dismantled’
  10. Palace: We can’t blame increase in population on Vitangcol
  1. KL confirms Malaysian Airlines Flight MH370 ended in Indian Ocean
  2. MRT passengers pass the hat for 6-year-old Ashley
  3. Pork payoffs to newscasters Erwin Tulfo, Del Prado, others bared
  4. Rookie, lady cops lauded for quick response to MOA heist
  5. Model Helena Belmonte wished ‘to slash her wrist and hope to die’
  6. Malaysia averts another air tragedy; pilot lands troubled plane safely
  7. Revilla says he was joking; Lacson stands by his story
  8. Revilla ‘consulted’ Lacson on how he evaded arrest
  9. Police rule out foul play in Helena Belmonte’s death as boyfriend is ‘traumatized’
  10. Cudia, dismissed for lying, got 99% in conduct
Advertisement

News

  • Captain not at helm of capsized Korean ferry–probers
  • 4.9 quake jolts Batanes on Maundy Thursday
  • Presidents, celebrities mourn writer Garcia Marquez
  • MH370 search to be most costly ever at $100 million — analysts
  • Iraqi guilty of beating wife to death in US
  • Sports

  • Heat seek Three-peat but Spurs, Pacers top seeds
  • Can Spurs get back at Heat? Can they survive West?
  • Hopkins, 49, seeks win for the ageless
  • LeBron still No. 1 with NBA’s most popular jersey
  • Pacquiao back in PH, heads home to wife, kids
  • Lifestyle

  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Entertainment

  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Whoopi Goldberg debuts as marijuana columnist
  • ‘X-men’ director accused of sex assault on teen boy
  • Cannes film festival launches race for 2014 Palme d’Or
  • Business

  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Barbie doll has a problem
  • Oil prices mixed ahead of long Easter weekend
  • Technology

  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Filipinos #PrayForSouthKorea
  • Taylor Swift tries video blogging, crashes into fan’s bridal shower
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Last call for nominations to ’14 Presidential Awards
  • San Francisco business coalition slams proposed tax on sugary drinks
  • A ‘time-travel’ production of ‘Les Miserable’ at Stanford
  • Filipina Maryknoll sister honored for years of service
  • Malaysia quarantines 64 villagers over MERS virus
  • Marketplace
    Advertisement