From the UAAP statement:
The UAAP Board of Trustees, at its Annual Board Meeting held on April 24, with all of the member universities duly represented, promulgated and approved the following explanatory rule to the two-year residency requirement effective UAAP Season 76 (School Year 2013-2014):It's essentially the "Soc Rivera rule"—named after another former FEU-FERN star—albeit two years long. (What is it with these Baby Tams?)
An incoming collegiate athlete who is a high school graduate from a UAAP member university and enrolled in another member university shall take a mandatory two-year residency, except when a prior release is issued by the member university for the athletes concerned.
The two-year residency from high school to college shall cover incoming student athletes effective UAAP Season 76 (School Year 2013-2014). The release form shall be duly signed by any UAAP board member of the member university concerned.
While I'm glad the league's Rules Committee and Board of Trustees have heard the call of various quarters for the new rule to be changed, this new development will likely open the doors for further shenanigans. Does anyone think, given all that has transpired (not to mention the likely bad blood), that Pingoy's old school will issue his release papers—let alone release him in time to be eligible to play for Ateneo in UAAP Season 76—or do so without any "consideration"?
[13 May 2013 Edit]
Sportswriter Joey S. Villar is reporting that per Ateneo’s board representative Ricky Palou, the amendment is still a proposal, although it will probably be approved during the Board's next meeting on May 18.
Well the league has already released a statement, so the amendment is likely a fait accompli.