Section 5
SEC. 5. The National Housing Commission shall exercise its corporate powers, perform its duties, and carry out its purposes through a Governing Council and its executive officers hereinafter specified and such additional officers, employees, and agents as may be authorized from time to time by the Governing Council, with the approval of the President. The Governing Council of the National Housing Commission shall consist of a chairman and four numbers to be appointed by the President of the Philippines, with the consent of the Commission on Appointments. The members of the Governing Council shall hold office for five years. When the members of the Governing Council first appointed hereunder shall have assumed office, the President shall designate in writing within thirty days of notification of their assumption of office the members who are to serve one, two, three, four, and five years, respectively and their terms shall expire in accordance with such designation. Thereafter the person appointed to succeed a member of the Governing Council whose term of office shall have expired by reason of such designation shall continue to serve for the full five-year term, and except in the case of vacancies caused otherwise than by the expiry of the term, only one member shall be appointed to the Governing Council each year. In the event of a vacancy, the successor appointed to fill the same shall serve only the unexpired portion of the term of the member he succeeds. Unless holding other office in the Government or a position with fixed compensation in any government corporation or instrumentality, the chairman of the Governing Council shall receive, for each meeting of the council which he attends, a per diem of thirty pesos, and each member shall receive a per diem of twenty pesos.