SECTION 1. Section three of Commonwealth Act Numbered Six hundred five, as amended, is further amended to read as follows:
"SEC. 3. For the proper administration of this Act, there shall be a Board on Pensions for Veterans to be composed of five members, all of whom shall be former veterans of the past Philippine revolutions or wars, who are not affiliated to any political group or party and who are competent and of good moral reputation, to be appointed by the President of the Philippines with the consent of the Commission on Appointments: Provided, however, That if the required number of veterans of such qualifications is not available, the President with the consent of the Commission of Appointments shall appoint as many public officials as are necessary to complete the necessary number of members to constitute the Board and shall, in either case, designate one among them as the Chairman of the Board. The Board shall have a secretary who shall be designated by the President of the Philippines upon the recommendation of the Board. The Board shall formulate its own rules of procedures and determine the persons who are entitled to a pension under this Act. Such rules shall determine, among other things, the manner the pensions shall be paid in order to protect the government as much as possible against possible falsifications, and assure that the pensions reach the hands of the pensioners: Provided, however, That the monthly pension which may be granted by the Board shall be one hundred pesos, regardless of rank."