Section 2
SEC 2. Section forty of the same Act is hereby amended to read as follows : "SEC. 40. Constitution and compensation of Board of Tax Appeals.&mdashThere shall be a Board of Tax Appeals which shall be composed of five members to be appointed by the President of the Philippines with the consent of the Commission on Appointments upon the effectivity of this Act, three of whom shall be owners of real estate in the city and two shall represent the tenant-lessee interest in the city upon the recommendation of the Pasay Homeowners Association, Inc. The members of the Board of Tax Appeals, except the chairman, shall receive a compensation of twenty-five pesos for each day on which they actually attend the sessions of the Board. The chairman of the Board shall be designated in the appointment and shall receive thirty pesos as compensation for each day that he attends the sessions of the Board. He shall have the power to appoint a secretary of the Board in accordance with the Civil Service Law and rules and with the concurrence of a majority of its members. The secretary shall be the custodian, under the supervision of the chairman, of all the properties and records of the proceedings of the Board and shall receive such salary as the Board may fix. "The chairman and members of the Board of Tax Appeals shall hold office for a term of four years unless sooner removed by the President of the Philippines."