Board of Directors.
Section 7
SEC. 7. Board of Directors.—The Authority shall be governed by a Board of Directors, hereinafter referred to as the Board, which shall be composed of the Secretary of Public Works, Transportation and Communications, the Director-General of the National Economic and Development Authority, the Secretary of Finance, the Secretary of Labor, the Secretary of Industry, the Executive Secretary and the General Manager of the Authority. From among the members, the President will appoint a chairman. The members of the Board may have their respective alternates who shall be the officials next in rank to them and whose acts shall be considered the acts of their principals with the right to receive their benefit: Provided, That in the absence of the Chairman, the Board shall elect a temporary presiding officer. The General Manager of the Authority who shall be appointed by the President shall serve on a full-time basis. He must possess managerial ability and must be a recognized authority on housing and/or related fields. He shall be the chief executive officer of the Authority and be entitled to receive a salary to be determined by the Board and approved by the President. The Authority shall have an Assistant General Manager who shall likewise be appointed by the President and shall receive a salary to be determined in the same manner as that of the General Manager. The members of the Board, excluding the General Manager, 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. The Board shall meet regularly at least once a month, but special meetings may be called either by the Chairman or by four members of the Board as and when necessary. Four members of the Board shall constitute a quorum and all decisions of the Board shall require the concurrence of at least four members.