WHEREAS, the Secretary of National Defense and the Executive
Secretary mentioned in Presidential Decree No. 243, as amended by
Presidential Decree No. 353, are the Ex-Officio Directors, Chairman and
Vice-Chairman respectively, of the Board of Directors of the Philippine
Veterans Investment Development Corporation;
WHEREAS, the position of Executive Secretary was already
abolished;
WHEREAS, the Secretary of National Defense has multifarious
primary as well as auxiliary duties and responsibilities either as they
are inherent to his functions as Head of the Defense Establishment or as
delegated by me, from time to time, as necessitated during the period
of national emergency, thereby warranting certain needful changes that
would be promotive of a more effective National Defense Program.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines and Commander-in-Chief of all the Armed Forces of the
Philippines, pursuant to Proclamation No. 1081, dated September 21,
1972, and in order to effect the desired changes and reforms in the
social and economic structure of our Society, do hereby order and decree
the amendment of Presidential Decree No. 243, as amended by
Presidential Decree No. 353, by modifying the first paragraph of Section
1 of the first mentioned Presidential Decree to read as follows:
"SECTION 1. The Corporation shall be governed and its
activities shall be directed, controlled and managed by a Board of
Directors which shall be composed of seven members to be appointed by
the President of the Philippines from a list of nominees who should
preferably be qualified veterans and retirees in good standing to be
submitted by the Secretary of National Defense. The President of the
Philippines shall likewise appoint the Chairman and Vice-Chairman,
respectively, from among the directors of the Board. For every meeting
of the Board actually attended by them, each Director shall receive a
per diem allowance of P100.00."
Done in the City of Manila, this 1st day of April, in the year of
Our Lord, nineteen hundred and seventy-six.
(Sgd.)
FERDINAND E. MARCOS
President
Republic of the Philippines
By the President:
(Sgd.)
JACOBO C. CLAVE
Presidential Executive Assistant