Relative to the implementation of the subject program, permanent government school teachers who wish to avail of a loan under the program shall be exempted from the 15 days unexpended leave credits required under Section 6.2.1c of the Eligibility Requirements set forth under Circular No.165, series of 2002. This exemption is based on the fact that government school teachers are not provided with leave credits but rather are fully remunerated for their summer vacation. The exemption, however, shall not cover non-teaching personnel who actually earn leave credits.

Please be guided accordingly.

Adopted: 19 July 2004

(SGD.) NELSON C. BUENAFLOR
President and CEO