Purpose and Academic Freedom
- The College shall provide higher vocational, professional, and technical training in business education, commerce, and related fields.
- It shall promote research, advanced studies, and leadership in these fields.
- The academic freedom and sanctity of the College are to be respected by all government agencies.
Composition of the Board of Trustees
- The Board includes the Secretary of Education as ex-officio Chairman.
- Other members include the Chairmen of Senate and House Education Committees, College President, Alumni Association President (not employed by the College), Chamber of Commerce President, and Supreme Student Council President.
- The Undersecretary of Education acts in the Secretary's absence.
- Members serve without compensation except for necessary expenses.
Powers and Duties of the Board of Trustees
- Elect a temporary chairman in the absence of the Secretary of Education.
- Confer degrees to qualified graduates.
- Appoint faculty and staff on College President's recommendation, fix their terms, and remove for cause after due process.
- Set tuition and other fees, which shall be held in a government-audited trust fund.
- Accept and administer donations, legacies, or gifts tax-exempt, for the benefit of the College or its students.
- Import duty-free commodities for educational purposes under exemptions.
Reporting Requirements
- The Board must submit an annual detailed report on the College’s progress, status, and needs to the President of the Philippines by September 15 each year.
College Council and Academic Governance
- The College Council includes the President and all instructors and professors.
- It prescribes curricula and disciplinary rules subject to Board approval.
- Sets admission and graduation requirements.
- Has sole authority to recommend candidates for degrees.
- Exercises disciplinary power over students within approved rules.
Faculty Rights and Restrictions
- Faculty appointments shall not be influenced by religious or political tests or inquiries.
- No sectarian teachings or influence on students for or against any religion or political belief allowed, under penalty of dismissal.
Exemption from Civil Service Regulations
- College officials and faculty, including the President, Vice Presidents, Deans, and personnel, are exempt from civil service examination and wage classifications.
Use of Secondary Schools as Training Sites
- Enrollment of secondary schools as training or laboratory schools is allowed with cooperation from Superintendents of Schools.
Absorption and Salary Adjustments for Personnel
- Existing faculty and staff absorbed by the new College structure.
- Salaries adjusted by Board of Trustees within appropriated funds based on President’s recommendation.
Financial Oversight
- The Treasurer of the Philippines serves as ex-officio Treasurer of the College’s appropriated funds.
- All financial transactions audited by the Auditor General or authorized corporate auditor.
Appropriations and Funding
- An initial appropriation of one million pesos authorized from unappropriated national funds.
- Existing authorized appropriations retained.
- Future funding to be included in the annual General Appropriations Act.
Effectivity
- The Act takes effect upon approval.