SECTION 1. The Everest Academy, herein referred to as the "Academy:, registered as Everest International Academy, is hereby declared and officially recognized as a basic educational institution of international character authorized to operate educational programs that primarily and principally adhere to universally accepted and recognized educational policies.

SEC. 2. The Academy shall be governed by a board of trustees, herein referred to as the "Board", elected in accordance with its corporate character.

SEC. 3. To enable the Academy to continue carrying out its educational program, improve its standard of instruction, and meet the special needs of the foreign diplomatic and temporary resident community for quality education, it shall:

(a) Accept applicants for admission, regardless of nationality, in accordance with its own eligibility standards, and rules for admission and grade placement, the Academy having been established primarily for foreign diplomatic personnel and their dependents and for other temporary residents and, as such, the Academy shall be covered by the exemption provided in Section 4 (2), Article XIV of the Philippine Constitution.

(b) Be managed and administered by a Head of the Academy, who shall possess the qualifications prescribed by the Board.

(c) Upon consultation with the Secretary of Education, determine its own curriculum, calendar of studies and work schedule, teach whatever language it may deem appropriate and determine the reasonable amount of fees which shall be imposed upon its students to maintain and conform to the Academy's standard of education;

(d) Maintain standards of education compatible with those obtaining in similar schools of generally recognized international standing;

(e) Employ its own teaching and management personnel selected by the Board either locally or abroad, from the Philippines or other nationalities; such foreign personnel being exempt from laws that impose nationality restrictions on employment, and control of administration of educational institutions, except laws that have been or will be enacted for the protection of employees: Provided, That such exemption shall not extend to their liability for income taxes; and

(f) Enjoy the privileges provided by law to nonstock, nonprofit educational institutions.

SEC. 4. The Academy shall be under the supervision and regulation of the Department of Education (DepEd) and shall adhere to basic laws, and rules and regulations of the DepEd governing international or foreign schools.

SEC. 5. Within sixty (60) days from the approval of this Act, the Secretary of Education, in consultation with the members of the Board of the Everest Academy, shall formulate the rules and regulations implementing the provisions of this Act.

SEC. 6. If any provisions of this Act is held invalid or unconstitutional, the other provisions not so declared shall remain in force and effect.

SEC. 7. This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation.

(SGD.) RODRIGO ROA DUTERTE
    President of the Philippines