Publishing Memorandum Circular No. 134 of the Government Service Insurance System, dated December 20, 1967

January 26, 1968 REVENUE MEMORANDUM CIRCULAR NO. 04-68 SUBJECT : Publishing Memorandum Circular No. 134 of the Government Service Insurance System, dated December 20, 1967 TO : All Internal Revenue Officers and Employees and Others Concerned For the information and guidance of the officers and employees of this Bureau, there is quoted hereunder Memorandum Circular No. 134 of the Acting General Manager, which is self-explanatory: "MEMORANDUM CIRCULAR NO. 134 "TO : All Heads of Departments and Government-Owned and Controlled Corporations, Chiefs of Bureaus and Offices, Executives of Provincial, City and Municipal Governments . SUBJECT : Government Service Insurance System Scholarship Foundation "In line with the policy of the Government to create and maintain a pool of trained entrepreneurs, scientists and technicians so that these skills and knowledge can be utilized to adverse the growth of the scenery, there is hereby established a GSIS Scholarship Foundation for qualified children or members of the Government Service Insurance System who desire to pursue education in the sciences, technology and vocational fields. Scholarship grants shall be awarded yearly by the GSIS scholarship Committee to not more than twenty five (25) successful candidates on the basis of competitive examinations which shall be held in examination centers to be established and on the dates to be announced. "Such scholarship grants shall be subject to the following conditions: "1) Qualifications of Candidates "All children of GSIS members are entitled to compete for the benefits under this Foundation. A candidate must come from the upper 20% of a graduating class of a duly recognized private or public high school, must be a Filipino citizen, in good health; physically, mentally and emotionally. He must be recommended by the principal of the high school where he graduated. "2) Institution to be Attended "All scholars under this Foundation shall take courses at the University of the Philippines or in any university or college of recognized standing chosen by the GSIS. "3) Duration of Scholarship "The scholarship shall be for the duration of the regular science or technological course leading to a bachelors degree or in any specific 2-year course in the vocational arts unless earlier terminated due to failure to comply with the scholarship rules. "4) Allowance "The following expenses shall go with every scholarship grant: "a. Matriculation, tuition and other school fees, (As charged by the school but not more than P250/ semester x 2) P500 "b. Textbooks and essential equipment P150/semester x 2 300 "c. Rentals living allowance for 10-month duration at One Hundred Fifty Pesos (P150.00) per month 1500 "d. Transportation (round strip, economy class) between permanent residence and place of study (estimate) 200 ______ Total P2500 per academic year "Pocket money and expenses for laundry, recreation and other incidental expenses shall be borne by the grantee. It is understood that during the term of the scholarship the student should live within the allowance granted to him by the System. "5) S upervision of Grantees "Grantees shall be under the supervision and guidance of the Government Service Insurance System. "6) Norm of Conduct "Scholarship grantees should always bear in mind that they are to comport themselves in a manner that shall bring honor and prestige to the entity which sponsored them and to the institution where they are studying. "7) Health of Grantees "Grantees should maintain good physical condition at all times. "8) Marriage of Grantees "No scholarship grantee shall marry or acquire dependents during the period of this scholarship. "9) Service in the Philippines "The grantee after graduation shall serve in the Philippines for a minimum period equal to the length of time that he enjoyed this scholarship; provided however, that this service requirement shall be deemed waived if he does not receive any offer of employment either from any government office or in any industrial firm or institution of higher learning within three (3) months from the date of his graduation. "10) Progress Report "The scholarship grantee must show highly creditable work and high scholastic performance. An average grade of not less than 2, or its equivalent without a grade lower than 2.5 or its equivalent in any one subject excluding non-academic subject where a passing grade is sufficient, shall be maintained by the scholar to entitle him to the continuance of the benefits under this scholarship. Before the opening of every term, the grantee shall furnish the System, with the official transcript of grades, together with a report on any notable accomplishment that he has made. aisadc "11) Reimbursement of Scholarship Grant "The grantee shall reimburse the total amount received in connection with this scholarship in case of termination due to any of the following causes: "a. Willful abandonment of the scholarship; "b. Refusal to render service in the Philippines; "c. Gross misconduct; and "d. Marriage during the duration of his/her scholarship "12) S cholarship Agreement "Each grantee shall sign an agreement with the System which shall provide among other things his duties and responsibilities under the scholarship grant. "13) Effectivity of Termination of Scholarship "The termination of this scholarship for failure to maintain the grade requirements or to comply with any of the terms and conditions of the agreement shall be effective on the date indicated in a written notice to that effect. "Scholarships under this Foundation shall take effect starting with the school year 1968-1969. All heads of offices, therefore, are requested to give this matter the widest publicity. "(SGD.) J.P. RACINO "Acting General Manager" (SGD.) MISAEL P. VERA Commissioner of Internal Revenue