Section 7
SEC. 7. Board to carry out provisions1 of this Act.&mdashTo implement the provisions of this Act, there is hereby created the Gold Mining Industry Assistance Board, hereinafter referred to as the Board, which shall be composed of the Governor of the Central Bank, as chairman, and the Director of Mines and three others, one of whom shall be a representative of labor, to be appointed by the President of the Philippines with the consent of the Commission on Appointments, as members. The board shall serve for a term of three years. The presence of three members of the Board shall constitute a quorum for the exercise of its functions and the affirmative vote of at least three members shall be a valid and a binding act of the Board. In case the chairman is absent in any meeting, the members present shall elect a temporary chairman to preside over the meeting. Any provision of law to the contrary notwithstanding, the chairman and members of the Board shall receive a per diem of twenty-five pesos for every meeting actually attended. The Board shall hold regular meetings once a month and in no case shall it hold more than three special meetings in one month. The per diem of the chairman and members of the Board shall be chargeable to the Gold Assistance Trust Fund provided in Section thirteen of this Act.