Section 2
SEC. 2. In order for the International Conference Center to enjoy autonomy of operation, separate and distinct from that of the Central Bank, the latter is hereby authorized to organize a corporation to be known as the Manila International Conference Center which will manage and operate the former, the capital of which shall be fully subscribed by the Central Bank. The governing powers and authority of the corporation shall be vested in, and exercised by, a Board of Directors composed of the Central Bank Governor as Chairman, the Senior Deputy Governor as Vice Chairman, and five other members to be designated by the Monetary Board. The Board of Directors shall promulgate the rules and regulations in a Code of By-Laws which shall be passed by the affirmative vote of majority plus one of all members, governing the Manila International Conference Center, providing for, among other things, the organization, regular, special and annual meetings of the Board, its officers, and their powers and duties. Amendment thereto shall likewise be made by a similar vote of the members at any meeting of the Board duly convened.