Sec.1.Section four of Act Numbered Eighteen hundred and seventy, as amended, is further amended to read as follows:
"Sec. 4. The government of said university is vested in a board of regents to be known as the Board of Regents of the University of the Philippines. The Board of Regents shall be composed of the Secretary of Public Instruction,who shall be ex-officio chairman of the Board,the Chairman of the Committee on Instruction of the National Assembly, the President of the University, the Director of Education, and seven additional members to be appointed by the President of the Philippines, with the consent .of the Commission on Appointments of the National Assembly: Provided, That at least four of the additional members shall be selected from among the alumni of the University of the Philippines. The President of the University shall be elected and his compensation shall be fixed by the Board of Regents.
"Of the seven additional members first appointed as above provided, the President shall designate one to serve for one year, one to serve for two years,one to serve for three years, one to serve for four years,one to serve for five years, one to serve for six years, and one to serve for seven years. Thereafter the successors of such members shall hold office for a term of seven years or until their successors are appointed. In case of a vacancy among the members of the Board of Regents,such vacancy shall be filled by appointment by the President of the Philippines, with the consent of the Commission on Appointments of the National Assembly,and such appointee shall hold office for the unexpired term. All members of the Board of Regents shall be residents of the Philippines. No person in the employ of University or in any educational institution in any capacity whatsoever,whether as dean, professor, instructor,lecturer, .or otherwise,shall be eligible to membership on the Board: Provided,however. That any person now holding office as member of the Board of Regent sat the time of the approval of this Act shall.continue to hold office until the expiration of his term.
"Members shall serve without compensation other than actual and necessary expenses incurred either in attendance upon meetings of the Board or upon other official business authorized by resolution of the Board."