Section 4
SEC. 4. Creation and composition of Board of Industries.&mdashFor the purpose of carrying out the objectives of this Act, there is hereby created a Board of Industries, hereinafter referred to as the "Board," to be composed of seven members, namely, the Chairman of the National Economic Council, the Secretary of Commerce and Industry, the Secretary of Agriculture and Natural Resources, the Chairman of the Joint Legislative-Executive Tax Commission, and three private citizens representing both the consumers and producers and labor sectors, the last three members to be appointed by the President of the Philippines with the consent of the Commission on Appointments. The Board shall annually elect a chairman and a vice-chairman from its members. No member of the Board shall serve as chairman and vice-chairman for more than two consecutive years. The period of such service shall be counted from the date he shall have commenced to act as chairman or vice-chairman. In the event of the absence or temporary disability of the chairman, his powers and duties shall be performed by the vice-chairman, and in the event of the absence or temporary disability of both the chairman and vice-chairman, the regular member designated by the Board shall preside over the meetings of the Board. Four members of the Board shall constitute a quorum. In case of absence or temporary disability of any member who is a government official to sit in any meeting of the Board, he shall send his authorized representative who shall be the next ranking official in his Department, authorized by him to attend and vote for and in his behalf and whose act and vote shall bind the government official represented. Members of the Board who are government officials shall serve without additional compensation. Private citizens who are appointed to sit in the Board shall receive a per diem of twenty-five pesos for each day of session of the Board actually attended by them. The Chairman and members of the Board shall, however, be allowed traveling and other necessary expenses. The Board shall, for administrative purposes, be under the Office of the President of the Philippines.