SEC. 2. The Board shall have the following composition and
functions:
A. Composition —
(1) Chairman — The Philippine Consul General In New York
(2) Vice Chairman — The Vice President and Manager, Philippine
National Bank, New York Branch, who shall also be Treasurer of the
Board.
Members:
(3) A representative, not below the rank of Foreign Service
Officer, Class II, from the Philippine Permanent Mission to the United
Nations
(4) The Philippine Commercial or Trade Promotion Representative
in New York
(5) The head of the Philippine Airlines in New York
{6) The representative in New York of the Commission on Tourism
(7) The representative in New York of the Auditor General
(8) The Legal Counsel of the Philippine National Bank, New York
Branch
(9) The Philippine Center Business Manager who shall also be
Secretary of the Board.
B. Functions —
(1) The Board shall be responsible to the President of the
Philippines for the overall operation, maintenance and management of the
Center in accordance with this Decree and sound business practices.
(2) The Board shall meet at least once a year to prepare and
submit to the President of the Philippines, not later than the 31st day
of December of each year, its annual report on the operations,
financial position and achievements of the Center.
(3) The Board shall, in accordance with its procedures, decide
and implement policies dealing with the operations of the Center, It may
incur relevant expenditures not exceeding ten thousand dollars
($10,000.00), provided that any single expenditure exceeding one
thousand dollars ($1,000.00) shall have the prior approval of the Board.
All expenditures in excess of $10,000.00 shall have the prior approval
of the President of the Philippines. "Approval of the Board" means a
simple majority of the entire composition of the Board.
(4) The Board shall recommend to the President of the
Philippines, for his approval, the hiring of the services of a
professional firm in New York specializing in building maintenance and
janitorial services.
(5) The Board shall approve lease contracts for the rentals
stipulated in Section 5 All lease contracts shall be signed by the
Chairman of the Board. All lease payments shall be payable to the
"Philippine Center Management Board" and such payments shall be promptly
deposited in the Philippine National Bank for credit to the tuna
provided in section 3.
(6) The Board shall adopt the most practical and effective
arrangements for the security or personnel and the premises.
(7) The Board shall have such other functions consistent with the
objectives of this Decree.