REPUBLIC ACT NO. 1446 - AN ACT T0 PROVIDE SCHOLARSHIPS FOR THE STUDY OF VETERINARY SCIENCE IN THE UNIVERSITY OF THE PHILIPPINES, AUTHORIZING THE APPROPRIATION OF FUNDS THEREFOR.

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. The Board of Regents of the University of the Philippines is hereby authorized to grant scholarships to Filipino citizens who desire to study in the College of Veterinary Science of the University of the Philippines: Provided, That there shall not be less than ten scholarships for the first year of the said college, and such scholarships shall be granted in accordance with the following principles:

The scholarships shall be granted only to bright and deserving students who shall be selected through competitive examinations;

The scholarships may include living expenses, traveling expenses, registration fees, matriculation fees and costs of books, instruments and other materials required in the study of veterinary science; and

The scholarships may be extended as an absolute grant to the scholar provided that he agrees to be employed in the government service for a certain number of years as may be determined by the Board of Regents; or it may be granted as a loan to be paid by the scholar out of his salary or earnings, without interest, after the scholarship is terminated. Payments collected on scholarships granted under this Act on a loan basis shall accrue to the Veterinary Science Scholarship Fund hereinafter constituted.

SEC. 2. The Board of Regents of the University of the Philippines shall promulgate such rules and regulations as may be necessary to carry into effect the provisions of this Act.

SEC. 3. There is authorized to be appropriated annually for a period of ten years, out of any funds in the National Treasury not otherwise appropriated, the sum of fifty thousand pesos to constitute the Veterinary Science Scholarship Fund and to carry into effect the purposes of this Act.

SEC. 4. This Act shall take effect upon its approval.

Approved, June 14, 1956.