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Omega Land, Inc. is a Philippine corporation with 60% of its outstanding capital owned by Filipino citizens (A, B, and C) and 40% owned by a foreign investor. Omega Land purchases a parcel of private land in the Philippines. Subsequently, the foreign investor sells its 40% stake to a Filipino, making Omega Land 100% Filipino-owned. Later, a new foreign investor acquires 70% of Omega Land’s outstanding capital, reducing Filipino ownership to 30%. (a) May Omega Land continue to own the land after the changes described? Explain the controlling rule and apply it to the facts. (b) Was the sale/transfer of the 40% stake to the Filipino purchaser permissible under the Constitution? Explain. (c) If a future acquisition causes Filipino ownership to drop below 60%, what is the likely effect on Omega Land’s ownership of the land and the status of prior transfers, and why?