Governing Board.
Section 4
SEC. 4. Governing Board. — The corporate powers and duties of the Authority shall be vested in, and exercised by, Board of seven (7) members to be appointed by the President, as follows: (a) Two representative of the Government, one of whom shall be designated by the President as Chairman and the other as Vice-Chairman; (b) Three members recommended by the Philippine Coconut Producers Federation; (c) One member recommended by the United Coconut Associations of the Philippines; (d) One member recommended by the owner and operator of the hybrid coconut seednut farm herein authorized to be established. The Board shall have the following additional powers and duties: (a) To direct and manage the affairs of the Authority; (b) To prepare and adopt an annual budget; (c) To disburse the proceeds of the levies for the purposes herein authorized; and (d) To establish the internal organization of the Authority and fix the salaries and other compensation of its officers and employees.