Preamble
WHEREAS, the Philippine Veterans Bank was created to help solve the economic plight of veterans, war widows and orphans and provide an instrument vital to the promotion of the national development program of the government; WHEREAS, the Secretary of National Defense is an ex-officio member of the Board of Directors of the Philippine Veterans Bank; and WHEREAS, in order to give the Secretary of National defense flexibility in the performance of his functions, especially in the management of the national defense program of the government, it is necessary that the Secretary of National Defense be authorized to participate in the deliberations of the Board of Directors of the Veterans Bank either by himself or through a representative with all the rights and privileges of a voting member. NOW, THEREFORE, I, FERDINAND E. MARCOS, President the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines and pursuant to proclamation No. 1081 dated September 21, 1972, and General Order No. 1 dated September 22, 1972, as amended, do hereby order and decree the further amendment of Republic Act No. 3518 as follows: