"Lately, the SEC, realizing that the second condition actually prevented a corporation from entering into a limited

partnership, which if allowed to do so would then be more congruent with the policy that the corporation would then not be held liable for its venture beyond the investments made and determined by its board of directors, and would therefore not be held liable (beyond its investment) for debts arising from the acts of the general partners, reconsidered its position and ruled that a corporation may become a limited partner in a limited partnership, since there is no existing Philippine law that expressly prohibits a corporation from becoming a limited partner in a partnership. In effect, the SEC dropped the second condition imposed previously." SEC Opinion, 17 August 1995, XXX SEC QUARTERLY BULLETIN 8 (No. 1, June 1996).