RESOLVED, pursuant to the Implementing Rules and Regulations of R.A. 9507 (The Socialized and Low-Cost Housing Loan Restructuring and Condonation Act of 2008), to ADOPT the policies/terms and conditions of the GSIS Housing Loan Restructuring and Condonation Program, as recommended by Management in compliance with the law.

All existing guidelines inconsistent with these policies/terms and conditions are hereby deemed revoked or amended accordingly.

RESOLVED FURTHER, to DIRECT the Corporate Services Officer V (Corporate Planning Office), in coordination with the Vice President (Marketing and Housing-NCR) to formulate/issue the necessary Policy and Procedural Guidelines (PPG) for the aforesaid policies/terms and conditions of the GSIS Housing Loan Restructuring and Condonation Program, for immediate implementation.

RESOLVED FINALLY, to DIRECT the Vice President (Public Relations and Communications Office), in coordination with the Vice President (Marketing and Housing-NCR), to conduct the proper information dissemination regarding the aforesaid policies/ terms and conditions of the GSIS Housing Loan Restructurin g and Condonation Program.

Adopted: 18 March 2009 (Board Meeting No. 6)