Scrollable rect containing GUIText/Label

I'm searching the correct way to create a rect that will contain text inside, the text (or the rect) has to be scrollable since there's not enough space for showing all the text.

I got bit confused with all the methonds including the UI Scroll Rect, GUI.ScrollView or just a simple GUIText that can be scrolled down and up vertically.

EDIT: I've tried using the UI Scroll Rect but couldn't figure out how to position it inside my GUITexture, since it has world positions (Also tried to set it as a child of the GUITexture but it still seems to be out of screen).