Board of Directors.
Section 3
SEC. 3. Board of Directors.—The powers and functions of the AIDA shall be vested in and exercised by a Board of Directors which shall be composed of the following officials or their representatives: 1. Secretary of Agriculture — Chairman 2. Secretary of Trade — Member 3. Chairman of Board of Investments — Member 4. Secretary of Local Governments and Community Development — Member 5. Governor of the Central Bank — Member 6. Governor, Development Bank of the Philippines — Member 7. President, Philippine National Bank — Member 8. A representative of the abaca producers — Member 9. A representative of the abaca traders — Member The President shall appoint the representatives of the abaca producers and traders upon recommendation of the Secretary cf Agriculture and they shall hold office for a term of three (3) years unless sooner removed for cause or until their successors shall have been appointed and qualified. The members of the Board from the government sector, if unable to attend a Board meeting, may designate their respective alternates whose acts shall be considered the acts of principals. The members of the Board shall elect a Vice-Chairman who shall act as Chairman in case of the absence, inability or temporary incapacity of the Chairman; Provided, That in the absence of the Chairman and Vice-Chairman, the Board shall elect a temporary presiding officer. The members of the Board may receive per diems per meeting actually attended at such amount to be fixed by the Board, but not to exceed one thousand pesos per month.