Amendment of Section seven.
Section 4
SEC. 4. Amendment of Section seven.—Section seven is hereby amended to read as follows: "SEC. 7. Executive Director and Council secretariat.—(a) The Council shall have a secretariat to be headed by an Executive Director who shall be appointed by the Board, upon recommendation of the Chairman, for a term of six years. He shall have a broad background in international and domestic trade, overseas and inter-island shipping, economics and maritime matters and must have had at least ten years of work experience in research, planning and management in a responsible capacity. He shall be under the general direction and supervision of the Chairman and serve as executive officer of the Board. Until the Board shall otherwise fix his compensation, he shall receive an annual salary of thirty-six thousand pesos. "(b) The secretariat staff shall consist of highly competent technical and administrative personnel, to be appointed by the Chairman in accordance with the budget approved by the Board, at rates of compensation comparable to those in private enterprise."