Section 13
SECTION 13. Board of Directors - The powers and functions of the Administration shall be exercised by a Board of Directors composed of nine (9) members to be appointed by the President of the Philippines. The President of the Philippines shall likewise appoint the Chairman from among the members of the Board. The members of the Board shall have their respective alternates who shall attend the meetings of the Board shall have their respective alternates who shall attend the meetings of the Board in the absence or incapacity of the regular members. Such alternates shall have the same rights and privileges as the regular members, including per diems and allowances. The members of the Board or their alternates shall receive a per diem of two hundred fifty pesos for every meeting of the Board attended, provided that in no case shall such per diems exceed one thousand pesos per month. They shall likewise be reimbursed by the Administration for actual expenses for travelling and subsistence allowances incurred in attending such meetings.