Section 2
SEC. 2. The Board shall have the following composition and functions: A. Composition— Chairman—The Chief of Mission Vice Chairman—The Head of the Philippine National Bank Branch Office, or, in case there is no such branch office, the Philippine Commercial Attache or Trade Promotion Representative. Members: The Philippine Commercial Attache or Trade Promotion Representative when not acting as Vice Chairman. The Representative of the Department of Tourism. The Philippine Center Business Manager, who shall also be the Secretary of the Board. One representative each from other offices and agencies of the Philippine Government in the area. B. Functions— 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 with sound business' practices. The Board shall meet a least once a year to prepare and submit to the President of the Philippines through the Secretary of Trade its annual report on the operations, financial position and achievements of the Center not later than the 31st of December of each year. The Board shall, in accordance with its procedures, decide and implement policies dealing with the construction, renovation, maintenance and operations of the Center. Its decisions shall be arrived at by a simple majority of the entire composition of the Board. The Board shall approve lease contracts for the rentals stipulated in Section 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 bank for credit to the fund provided in Section 3. 5. The Board shall adopt the most practical and effective arrangements for the security of personnel and the premises. The Board shall have such other functions consistent with the objectives of this Decree.