NINETEENTH CONGRESS OF THE 
)
REPUBLIC OF THE PHILIPPINES 
)
Second Regular Session 
)
of tl)f fttti ft I n»
23 SEP 14 P5S5
COMMITTEE REPORT NO. 123
Submitted by the Committees on Higher, Technical and Vocational Education; Trade, 
Commerce and Entrepreneurship; Ways and Means; and Finance on
SEP 14 2023 .
Re: Senate Bill No.
2442
Recommending its approval in substitution of Senate Bill Nos. 1351,1628, 2090, and 
2229 taking into consideration House Bill No. 6473.
Sponsor: Senator Francis G. Escudero
MR. PRESIDENT:
The Committees on Higher, Technical and Vocational Education; Trade, 
Commerce and Entrepreneurship; Ways and Means; and Finance to which were 
referred Senate Bill No. 1351, introduced by Senator Manuel "LIto" M. Lapid, 
entitled:
"AN ACT
ESTABLISHING THE PHILIPPINE ENTREPRENEURS' ACADEMY, 
AND APPROPRIATING FUNDS THEREFOR AND FOR OTHER 
PURPOSES"


Senate Bill No. 1628, introduced by Senator Ramon Bong Revilla Jr., entitled:
"AN ACT
ESTABLISHING THE PHILIPPINE ENTREPRENEURS' ACADEMY, 
AND APPROPRIATING FUNDS THEREFOR"
Senate Bill No. 2090, introduced by Senator Mark Villar, entitled:
"AN ACT
ESTABLISHING THE PHILIPPINE ENTREPRENEURS' ACADEMY, 
AND APPROPRIATING FUNDS THEREFOR AND FOR OTHER 
PURPOSES"
Senate Bill No. 2229, introduced by Senator Cynthia A. Villar, entitled:
"AN ACT
ESTABLISHING THE PHILIPPINE ENTREPRENEURS ACADEMY 
AND APPROPRIATING FUNDS THEREFOR"
taking into consideration House Bill No. 6473, introduced by Representatives Go 
(M.), Mariano-Hernandez, Gasataya, Acidre, Khonghun, et al., entitled:
"AN ACT
ESTABLISHING THE PHILIPPINE ENTREPRENEURS ACADEMY,
AND APPROPRIATING FUNDS THEREFOR"
have considered the same and have the honor to report them back to the Senate 
with the recommendation that the attached Senate Bill No. 2442 . 
prepared by the Committees, entitled:


"AN ACT
ESTABLISHING THE PHILIPPINE ENTREPRENEURS ACADEMY, 
APPROPRIATING FUNDS THEREFOR AND FOR OTHER 
PURPOSES"
be approved in substitution of Senate Bill Nos. 1351, 1628, 2090 and 2229, taking 
into consideration House Bill No. 6473, with Senators Lapid, Revilla Jr., Villar (M.), 
Villar (C.), Escudero, and Angara as authors thereof.


Respectfully Submitted:
Chairpersons:
SEN. FRANCISGTE^^DERO
Committee on Higher, Technicai ana Vocationai Education 
Member, Committee on Finance 
Member, Committee on Ways and Means
SEN. MARKVILLAR
Committee on Trade, Commerce and Entrepreneurship 
Vice Chairperson, Committee on Finance 
Member, Committee on Higher, Technicai and Vocationai Education 
Member, Committee on Ways and Means
SEN. SONNY ANGARA
Committee on Finance
Vice Chairperson, Committee on Ways and Means
SEN. WIN GATCHALIAN
Committee on Ways and Means
Vice Chairperson, Committee on Higher, Technicai and Vocationai Education 
Vice Chairperson, Committee on Finance 
Member, Committee on Trade, Commerce and Entrepreneurship


Respectfully Submitted:
Chairpersons:
SEN. FRANCIS G. ESCUDERO
Committee on Higher, Technicai and Vocationai Education 
Member, Committee on Finance 
Member, Committee on Ways and Means
SEN. MARK A. VILLAR
Committee on Trade, Commerce and Entrepreneurship 
Vice Chairperson, Committee on Finance 
Member, Committee on Higher, Technicai and Vocab'onai Education 
Member, Committee on Ways and Means
SEN.Q/^N GATCHALIAN
Committee on Ways and Means
Vice Chairperson, Committee on Higher, Technicai and Vocationai Education 
Vice Chairperson, Committee on Finance 
Member, Committee on Trade, Commerce and Entrepreneurship
SEN. SONNY ANGARA
Committee on Finance
Vice Chairperson, Committee on Ways and Means
4A


Vice Chairpersons:
tjCx- ■■
H VICTOR G. EJ
EJERCITO
Technical and
SEN. JOSEPH
Committee on Higher,
Vocational Education
Committee on Finance
Member, Committee on Trade, Commerce
and Entrepreneurship
Member, Committee on Ways and Means
SEN. MARIA LOURDES NANCY S. 
BINAY
Committee on Trade, Commerce and
Entrepreneurship
Committee on Finance
Member, Committee on Ways and Means
SEN. RAFFY T. TULFO
Committee on Trade, Commerce and 
Entrepreneurship
Member, Committee on Higher, Technical 
and Vocational Education 
Member, Committee on Finance 
Member, Committee on Ways and Means
SEN. PIA S. CAYETANO
Senior Vice Chairperson, Committee on 
Finance
Member, Committee on Higher, Technical
and Vocational Education
Member, Committee on Trade, Commerce
and Entrepreneurship
Member, Committee on Ways and Means
SEN. IMEE R. MARCOS
Senior Vice Chairperson, Committee on 
Finance
Member, Committee on Higher, Technical 
and Vocational Education 
Member, Committee on Trade, Commerce and Entrepreneurship 
and Entrepreneurship
SEN. CYNTHIA A. VILLAR
Committee on Finance
Member, Committee on Higher, Technical
and Vocational Education
Member, Committee on Trade, Commerce
ELA ROSA
SEN. RONALD
Committee on Finai 
Member, Committe 
and Vocational Education 
Member, Committee on Trade, Commerce 
and Entrepreneurship 
Member, Committee on Ways and Means
SEN. CHRISTOPHER "BONG" GO
Committee orj Finance 
fgher. Technical Member, Committee on Trade, Commerce 
and Entrepreneurship 
Member, Committee on Ways and Means


Vice Chairpersons:
SEN. JOSEPH VICTOR G. EJERCITO
Committee on Higher, Technical and
Vocational Education
Committee on Finance
Member, Committee on Trade,
Commerce and Entrepreneurship
Member, Committee on Ways and
Means
SEN. PIA S. CAYETANO
Senior Vice Chairperson, Committee on 
Finance
Member, 
Committee on Higher,
Technical and Vocational Education 
Member, 
Committee on Trade,
Commerce and Entrepreneurship 
Member, Committee on Ways and 
Means
SEN. IMEE R. MARCOS
Senior Vice Chairperson, Committee on 
Finance
Member, 
Committee 
on 
Higher,
Technical and Vocational Education 
Member, 
Committee 
on 
Trade,
Commerce and Entrepreneurship 
Member, Committee on Ways and 
Means
SEN. MARIA LOURDES NANCY S. 
BINAY
Committee on Trade, Commerce and
Entrepreneurship
Committee on Finance
Member, Committee on Higher,
Technical and Vocational Education;
Member, Committee on Ways and
Means
SEN. RAFFY T. TULFO
Committee on Trade, Commerce and 
Entrepreneurship
Member, Committee on Higher, 
Technical and Vocational Education 
Member, Committee on Ways and 
Means
Member, Committee on Finance
SEN. CYNTHIA A. VILLAR
Committee on Finance 
Member, 
Committee 
on 
Higher,
Technical and Vocational Education 
Member, 
Committee 
on Trade,
Commerce and Entrepreneurship
5k


Vice Chairpersons:
SEN. JOSEPH VICTOR G. EJERCITO
Committee on Higher, Technical and
Vocational Education
Committee on Finance
Member, Committee on Trade,
Commerce and Entrepreneurship
Member, Committee on Ways and
Means
SEN. IMEE R. MARCOS
Senior Vice Chairperson, Committee on 
Finance
Member, 
Committee 
on 
Higher,
Technical and Vocational Education 
Member, 
Committee 
on Trade,
Commerce and Entrepreneurship 
Member, Committee on Ways and 
Means
SEN.
T. TULFO
Committee on Trade, Commerce and 
Entrepreneurship
Member, Committee on Higher, 
Technical and Vocational Education 
Member, Committee on Ways and 
Means
Member, Committee on Finance
SEN. PIA S’. CAYET^jflO
Senior Vice Chairperson, Committee on 
Finance
Member, 
Committee 
on 
Higher,
Technical and Vocational Education 
Member, 
Committee 
on 
Trade,
Commerce and Entrepreneurship 
Member, Committee on Ways and 
Means
. MAluA LOUISES NA
SEN
NANCY S.
BINAY
Committee on Trade, Commerce and
Entrepreneurship
Committee on Finance
Member, Committee on Higher,
Technical and Vocational Education;
Member, Committee on Ways and
Means
SEN. CYNTHIA A. VILLAR
Committee on Finance 
Member, 
Committee 
on 
Higher,
Technical and Vocational Education 
Member, 
Committee 
on Trade,
Commerce and Entrepreneurship
5B


SEN. RISA HOimVEROS T 
SEN. GRACE POE
Committee on Finance 
Committee on Finance
Member, Committee on Higher, Technical Member, Committee on Ways and Means
and Vocational Education
Member, Committee on Trade, Commerce
and Entrepreneurship
Member, Committee on Ways and Means
iQid
SEN^RAN^ "TOL" N. TOLENTINO
Commiiiee'DiTFinance
Member, Committee on Ways and Means
Members:
SEN. RAMON BONG REVILLA JR.
Committee on Higher, Technical 
Vocational Education 
Committee on Finance
and
SEN. ROBINHOOD C. PADILLA
Committee on Finance
SEN. ALAN PETER "COMPANERO" S. 
CAYETANO
Committee on Higher, Technical and 
Vocational Education 
Committee on Finance
I. JINGGOY EJERCITO ESTRADA
'Committ^ on Higher, Technical and 
iai Education 
Committee on Finance
SEN. MANUEL ”LITO" M. LAPID
Committee on Finance 
Committee on Ways and Means
b


SEN. RONALD "BATO" DELA ROSA
Committee on Finance 
Member^ 
Committee on Higher,
Technical and Vocational Education 
Member, 
Committee 
on 
Trade,
Commerce and Entrepreneurship 
Member, Committee on Ways and 
Means
SEN. CHRISTOPHER "BONG" GO
Committee on Finance 
Member, Committee on Trade, 
Commerce and Entrepreneurship 
Member, Committee on Ways and 
Means
SEN. RISA HONTIVEROS
Committee on Finance 
Member, 
Committee 
on 
Higher,
Technical and Vocational Education 
Member, 
Committee 
on Trade,
Commerce and Entrepreneurship 
Member, Committee on Ways and 
Means
iRACE POE
ColWnittee on Finance 
Member, Committee 
Technical and Vocational Education; 
Member, Committee on Ways and 
Means
on Higher,
SEN. FRANCIS "TOL" N. TOLENTINO
Committee on Finance
Member, Committee on Ways and
Means
Members:
SEN. RApiON BONG REVILLA JR.
Commit^ on Higher, Technical and 
Vocational Education 
Committee on Finance
D C. PADILLA
SEN. R(
Finance
6A


Ex Officio Members:
SEN. LOREN LEGARDA
President Pro Tempore
Senior Vice Chairperson, Committee on Finance
SEN. JOEL VILLANUEVA
Majority Leader
SEN.
'KOKO" Pimentel hi
Minority Leader
HON. JUAN MIGUEL F. ZUBIRI
Senate President


SEN. ALAN PETER "COMPANERO" S. 
CAYETANO
Committee on Higher, Technicai and 
Vocationai Education 
Committee on Finance
SEN. 3INGGOY EJERCITO ESTRADA
Committee on Higher, Technicai and 
Vocationai Education 
Committee on Finance
SEN. MANUEL "LITO" M. LAPID
Committee on Ways and Means 
Committee on Finance
Ex Officio Members:
SEN. EtJREN LEGARDA
President Pro Tempore
Senior Vice Chairperson, Committee on Finance
SEN.
VILLANUEVA
^ority Leader
SEN. AQUILINO uKOKO" PIMENTEL III
Minority Leader
HON. JUAN MIGUEL F. ZUBIRI
Senate President
7A


NINETEENTH CONGRESS OF THE 
)
REPUBLIC OF THE PHILIPPINES 
)
Second Regular Session 
)
^cnau
23 SEP 14 P5 55
S. B. NO.
SENATE
2442
RECEIVED S'/
(In Substitution of Senate Bill Nos. 1351,1628, 2090 and 2229, taking 
into consideration House Bill No. 6473)
Prepared and submitted jointly by the Committees on Higher, Technical and 
Vocational Education; Trade, Commerce and Entrepreneurship; Ways and Means; 
and Finance with Senators Lapid, RevHia, Jr., VHiar (M.), VHiar (C.), Escudero, and 
Angara as authors thereof
AN ACT
ESTABLISHING THE PHILIPPINE ENTREPRENEURS' ACADEMY, 
APPROPRIATING FUNDS THEREFOR AND FOR OTHER PURPOSES
Be it enacted by the Senate and House of Representatives of the Philippines in 
Congress assembled:
1 
Section 1. Short Title. - This Act shall be known as the "Philippine
2 
Entrepreneurs Academy Act."
3 
Sec. 2. Philippine Entrepreneurs Academy. - There is hereby established a
4 
learning institution, under the supervision of the Commission on Higher Education
5 
(CHED), to be known as the "Philippine Entrepreneurs Academy", hereinafter
6 
referred to as the Academy.
7 
Sec. 3. General Mandate. - The Academy shall provide undergraduate and
8 
graduate degree programs, short-term technical-vocational non-degree courses, and
9 
modular training programs within its area of competency and specialization,
10 
pursuant to the mandates of the Academy. The Academy shall also perform the
11 
following;
12 
(a) Enhance the core competencies of individuals on entrepreneurship;
13 
(b) Cater to the needs of technical-vocationai, undergraduate and graduate
14 
students;


1 
(c) Promote the relevance of entrepreneurship to job generation and
2 
sustainable economic growth of the country;
3 
(d) Formalize and integrate, under a school system, the nonformal
4 
entrepreneurship programs and short-term technical-vocational courses of the
5 
Technical Education and Skills Development Authority (TESDA), Department of
6 
Trade and Industry (DTI), Department of Science and Technology (DOST), and
7 
other government agencies concerned;
8 
(e) Provide education, consultancy and extension services;
9 
(f) Supervise publication on entrepreneurship;
10 
(g) Conduct scientific and policy-oriented research and training; and
11 
(h) Perform other interventions as may be formulated by its Board of
12 
Trustees.
13 
Sec. 4. Curricular Offerings. - The Academy shall offer undergraduate and
14 
graduate degree programs and short-term diploma or certificate courses on
15 
entrepreneurship, including entrepreneurship development in the fields of
16 
agriculture, trade, technology, and manufacturing: Provided, That the design for the
17 
curriculum and modules to be used in programs and courses offered by the
18 
Academy shall adopt a competency-based curriculum model and shall be in
19 
accordance with the mandate and objectives of this Act.
20 
Sec. 5. School Sites. - The Academy shall have two (2) campuses, with the
21 
main campus to be established in the Clark Freeport and Special Economic Zone
22 
located in the Provinces of Pampanga and Tarlac, to be known as the "Philippine
23 
Entrepreneurs' Academy Main Campus-Clark". The other campus shall be located in
24 
the City of Baguio, to be known as the "Philippine Entrepreneurs' Academy-Baguio
25 
City Campus". Other campuses may be established by the Academy upon approval
26 
of its governing board.
27 
Sec. 6. Governing Board. - The governing board of the Academy shall be the
28 
Board of Trustees, hereinafter referred to as the Board, which shall be chaired and
29 
co-chaired by the Chairperson of the CHED, and the President of the Academy,
30 
respectively, with the following as members:
31 
(a) Chairperson of the Committee on Higher, Technical and Vocational
32 
Education of the Senate;


1 
(b) Chairperson of the Committee on Higher and Technicai Education of the
2 
House of Representatives;
3 
(c) Secretary of Agricuiture;
4 
(d) Secretary of Socioeconomic Pianning;
5 
(e) Secretary of Science and Technoiogy;
6 
(f) Secretary of Trade and Industry;
7 
(g) Director Generai of the TESDA;
8 
(h) President of the Federation of 
Facuity Associations of the Academy;
9 
(i) President of the Federation of 
Student Counciis of the Academy;
10 
(j) President of the Federation of Aiumni Associations of the Academy; and
11 
(k) Three (3) prominent citizens from the private sector who have
12 
distinguished themseives in their professions or fieids of speciaiization to be
13 
appointed by the President of the Philippines upon the recommendation of the
14 
Board: Provided, That they shall serve a term of two (2) years.
15 
The members of the Board shall not receive any compensation or
16 
remuneration for their services as such, but may be reimbursed for actual and
17 
necessary expenses incurred in discharging the business of the Academy.
18 
Sec. 7. Powers and Duties of the Board. — The Board shall be the highest
19 
policymaking body of the Academy. In addition to its general powers of
20 
administration and the exercise of all the powers granted to the Board of a
21 
corporation under existing laws, the Board shall have the following specific powers
22 
and duties:
23 
(a) Promulgate and implement policies in accordance with the declared State
24 
policies and pertinent provisions of the Constitution, the provisions of this Act, and
25 
the policies, standards, guidelines and thrusts of the CHED;
26 
(b) Adopt rules and regulations as may be necessary to carry out the
27 
purposes and functions of the Academy and to effectively discharge its
28 
responsibilities;
29 
(c) Receive assistance from any legitimate source to augment the internal
30 
sources of funds and to support the Academy in carrying out the purposes and
31 
functions of the Academy in accordance with relevant laws, rules and regulations;
32 
(d) Constitute the Board, as herein defined;


1 
(e) Appoint the President, and as many Vice Presidents as may be necessary
2 
to assist the President in the administration of the affairs of the Academy;
3 
(f) Conduct periodic review of the administrative procedures and programs
4 
of the Academy;
5 
(g) Receive, in kind and in trust, legacies, gifts and donations of real and
6 
personal properties of all kinds, and to administer and dispose the same when
7 
necessary for the benefit of the Academy, subject to limitations, discretions and
8 
instructions of the donors, if any, and in accordance with relevant laws, rules and
9 
regulations;
10 
(h) Fix the tuition fees and other school charges such as matriculation fees,
11 
graduation fees, laboratory fees, and other miscellaneous fees as the Board may
12 
deem proper to impose after due consultations with the involved sectors: Provided,
13 
That these fees shall not be prohibitive or unreasonable as to deviate from the
14 
purpose for which the Academy was created.
15 
The fees and charges collected by the Academy, including government
16 
subsidies and proceeds from other income sources, as well as interests that would
17 
accrue therefrom, shall be retained by the Academy: Provided, That in no case shall
18 
the said income be used for the payment of allowances and other benefits not
19 
authorized by law: Provided, further. That all fiduciary fees shall be disbursed for the
20 
specific purposes for which they were collected.
21 
If the Academy, for reasons beyond its control, would not be able to pursue
22 
any project for which funds have been appropriated and allocated under its
23 
approved program of expenditures, the Board may authorize the use of said fund for
24 
any reasonable purpose for which it deems necessary and urgent for the attainment
25 
of the objectives of the Academy: Provided, That funds collected from students for
26 
specific purposes shall not be realigned or reprogrammed to other expenditures;
27 
(i) Adopt and implement a socialized tuition scheme for greater access of
28 
poor, but deserving students in accordance with Republic Act No. 10931 or the
29 
"Universal Access to Quality Tertiary Education Act";
30 
(j) Authorize the construction or repair of its buildings, machineries,
31 
equipment, and other facilities, as well as the purchase and acquisition of real and
32 
personal properties, including the necessary supplies, materials, and equipment;


1 
(k) Appoint, upon the recommendation of the President of the Academy, the
2 
deans, executive directors, heads of departments, faculty members, and other
3 
officials and employees;
4 
(I) Prescribe the salaries of faculty members and administrative officials and
5 
employees, subject to the provisions of Repubiic Act No. 11466, otherwise known as
6 
the "Salary Standardization Law of 2019" and by such other iaws amendatory
7 
thereto which may hereinafter be enacted, civil service ruies and regulations
8 
governing hours of service and other related concerns, and other pertinent laws,
9 
rules and regulations;
10 
(m) Formulate and implement the curricula and institutional programs of the
11 
Academy;
12 
(n) Formulate and promulgate the rules of discipline for the students of the
13 
Academy to ensure orderly and effective governance thereof;
14 
(o) Set policies on admission and graduation of students;
15 
(p) Award honorary degrees upon persons in recognition of outstanding
16 
contribution in the field of entrepreneurship, education, public service, arts, science
17 
and technology, or any field of specialization within the academic competence of the
18 
Academy and to authorize the issuance of certificates of completion of non-
19 
baccalaureate programs and nontraditional or innovative courses: Provided, That the
20 
award of honorary degree and the issuance of certificates of completion shali
21 
conform with the applicable policies, standards and guidelines of the CHED and
22 
TESDA;
23 
(q) Estabiish research and extension centers of the Academy where such will
24 
promote the development of the latter;
25 
(r) Establish professorial chairs in the Academy and provide fellowships for
26 
qualified faculty members and scholarships to deserving students;
27 
(s) Enter into any agreements or joint ventures with business and industry
28 
for the profitable management of the economic and manpower assets of the
29 
Academy: Provided, That the proceeds from such agreements or joint venture shall
30 
be used for the upgrading and development of the facilities of the Academy;
31 
(t) Authorize an external management audit of the Academy, to be financed
32 
by the CHED, subject to the ruies and reguiations of the Commission on Audit, and


1 
institute reforms, inciuding academic and structurai changes, on the basis of the
2 
audit resuits and recommendations;
3 
(u) Import economic, technicai, and cuitural books and pubiications;
4 
(v) Deveiop consortia, academe-industry iinkages and other forms of
5 
networks with other institutions and agencies, both public and private, iocai and
6 
foreign: Provided, That these institutional iinkages shaii compiy with the applicabie
7 
poiicies, standards and guideiines of the CHED;
8 
(w) Appoint experts and speciaiists as consuitants, or visiting or exchange
9 
professors, schoiars, researchers, as the case may be: Provided, That such
10 
appointments shaii conform with the poiicies, standards and guideiines of CHED;
11 
(x) Set up the adoption of modern and innovative modes of transmitting
12 
knowiedge for the promotion of greater access to education, inciuding, but not
13 
limited to, the use of information technoiogy, the duai training system, open
14 
distance learning, and community iaboratory;
15 
(y) Outsource, where most advantageous to the institution, the management
16 
of non-academic services such as heaith, food, buiiding or grounds or property
17 
maintenance and simiiar services and undertaking;
18 
(z) Deiegate any of its powers and duties to the President or the other
19 
officiais of the Academy, as it may deem appropriate, so as to expedite the
20 
administration of the affairs of the Academy;
21 
(aa) Extend the term of the President of the Academy beyond the age of
22 
retirement, when deemed meritorious due to outstanding performance, but not
23 
beyond the age of seventy (70) years; and
24 
(bb) Promuigate ruies and reguiations, as may be necessary, to carry out the
25 
purposes and functions of the Academy.
26 
Sec. 8. President of the Academy. - The President of the Academy shaii be 
11 the chief academic officer, head of the faculty and the chief executive officer of the
28 
Academy. The President shaii render full-time service and shaii be appointed by the
29 
Board, subject to the guideiines, quaiifications and standards set by the Board, and
30 
upon the recommendation of a duiy constituted Search Committee, for a term of
31 
four (4) years, eiigibie for reappointment for another term.


1 
Within six (6) months before the expiration of the term of office of the
2 
incumbent President of the Academy, the Board shall constitute the Search
3 
Committee for the Presidency.
4 
The President shall receive such compensation and remuneration in
5 
accordance with Republic Act No. 11466 or the "Salary Standardization Law of
6 
2019", and by such other laws amendatory thereto, which may hereinafter be
7 
enacted, and shall be comparable to that being received by the Presidents of similar
8 
educational institutions.
9 
The President shall exercise the following powers and duties:
10 
(a) Submit, for the consideration of the Board and the Executive Committee,
11 
the policies and measures which are necessary to carry out the purposes of the
12 
Academy;
13 
(b) Recommend, coordinate, and administer the programs and projects of
14 
the Academy;
15 
(c) Direct and supervise the operations and internal administration of the
16 
Academy, and delegate administrative responsibilities in accordance with the rules
17 
and regulations of the Academy;
18 
(d) Submit an annual report to the Board setting forth the accomplishments
19 
of the Academy during the year, its financial operations and status, and a program
20 
and budget for the ensuing year; and
21 
(e) Exercise other powers and discharge other functions, as may be vested
22 
by the Board and the Executive Committee.
23 
The Board shall designate an Officer-In-Charge (OIC) of the Academy in case
24 
of vacancy in the Office of the President by reason of death, compulsory retirement,
25 
resignation, removal for cause or incapacity of the President to perform the
26 
functions of the office, pending the appointment of a new President: Provided, That
27 
the OIC shall only serve the unexpired portion of the term.
28 
The powers and duties of the President of the Academy, in addition to those
29 
provided in this Act, shall be those usually pertaining to the Office of the President
30 
of similar educational institutions, and those delegated by the Board.
31 
Sec. 9. Executive Committee. — There shall be an Executive Committee
32 
consisting of the President of the Academy and four (4) other members to be


1 
elected by the Board from its members. Each Member of the Executive Committee,
2 
other than the President of the Academy, shall hold office for a term of two (2)
3 
years, and shall be eligible for re-election, unless at the time of election, a shorter
4 
term is specified. The Board shall elect the Chairperson of the Executive Committee
5 
from the membership of the Board.
6 
Sec. 10. Functions of the Executive Committee. — The Executive Committee
7 
shall administer the affairs of the Academy in accordance with such functions,
8 
powers and responsibilities as may be delegated by the Board.
9 
Sec. 11. Government Support and Coordination. — The CHED Chairperson is
10 
hereby authorized to call upon any department, bureau, agency or instrumentality of
11 
the government for such assistance as may be necessary for the effective
12 
implementation of this Act.
13 
Sec. 12. Compiiance with the Requirements of CHED and TESDA. - The
14 
Academy, prior to its establishment and the offering of new and revised courses and
15 
programs related thereto, shall ensure compliance with the applicable policies,
16 
standards and guidelines of CHED and TESDA.
17 
Sec. 13. Suppietory Appiication. - The provisions of Republic Act No. 8292,
18 
otherwise known as the "Higher Education Modernization Act of 1997", shall form
19 
part of this Act.
20 
Sec. 14. Exemptions from Taxes and Duties. - The importation of economic,
21 
technical and cultural books and publications, which are for the economic, technical,
22 
vocational, scientific, philosophical, historical or cultural purposes of the Academy
23 
shall, upon the issuance of certification by the CHED, be exempt from customs
24 
duties in accordance with the provisions of Republic Act No. 10863, otherwise
25 
known as the "Customs Modernization and Tariff Act".
26 
All grants, bequests, endowments, donations and contributions made to the
27 
Academy, to be used actually, directly and exclusively for its programs, projects, and
28 
activities, shall be exempt from donor's tax and the same shall be considered as
29 
allowable deductions from the gross income in the computation of the income tax of
30 
the donor, in accordance with the provisions of the National Internal Revenue Code
31 
of 1997, as amended.


1 
Sec. 15. Appropriations. - The amount necessary for the effective
2 
implementation of this Act shall be included in the annual general appropriations or
3 
local appropriation ordinances, as the case may be.
4 
Sec. 16. Implementing Rules and Regulations. - Within sixty (60) days from
5 
the effectivity of this Act, CHED shall, in consultation with TESDA, DTI, Department
6 
of Budget and Management and University of the Philippines - Institute for Small
7 
Scale Industries, promulgate the rules and regulations to effectively implement the
8 
provisions of this Act.
9 
Sec. 17. Separability Clause. - If any provision or part hereof is declared
10 
unconstitutional, the remainder of this Act or any provision not affected thereby
11 
shall remain in full force and effect.
12 
Sec. 18. Repealing Clause. - All laws, acts, decrees, executive orders,
13 
issuances, and rules and regulations or parts thereof which are contrary to and
14 
inconsistent with this Act are hereby repealed, amended or modified accordingly.
15 
Sec. 19. Effectivity. - This Act shall take effect immediately following its
16 
publication in the Official Gazette or in at least two (2) newspapers of general
17 
circulation.
Approved,