MANILA - The Supreme Court issues a status quo ante order on the Comelec's money ban. This is the sixth ruling of the Court that was unfavorable to the poll body.
The Court granted the petition of private bankers who argued that the Comelec acted with grave abuse of discretion and out of its jurisdiction because the money ban invalidly amends the Anti-Money Laundering Law.
The Bankers Association of the Philippines earlier asked the High Court to stop the implementation of the money ban, saying it will disrupt business transactions.
The money ban, which limits cash withdrawals beyond P100,000, was meant to prevent vote-buying.
ANC, May 10, 2013
