Powers and duties of the Board of Directors.
Section 7
SEC. 7. Powers and duties of the Board of Directors.— The Board of Directors shall have the following powers: To prescribe, amend, modify or repeal by-laws, rules and regulations, not inconsistent with the provisions of this Act, governing the manner in which the general business of the PVTA may be done; To appoint the General Manager and the Assistant General Manager, who shall receive a salary of twelve thousand pesos and nine thousand six hundred pesos per annum, respectively; To confirm the appointments of other officials and employees of the PVTA, except the Auditor and the employees under him who shall be appointed by the Auditor General; To approve the annual budget of the PVTA and/or such supplemental budgets thereof as may be proposed and submitted to the Board by the General Manager from time to time; and To perform such other duties related to the, welfare of the tobacco industry as may be assigned to it by the President of the Philippines.