Board of Trustees.
Section 5
SEC. 5. Board of Trustees.—The metals industry development center shall, during the first seven years from the approval of this Act, be administered by a board of trustees composed of the chairman of the National Science Development Board, a representative of the National Economic Council, the Director of Mines, the general manager of the National Shipyards and Steel Corporation and three representatives from the private sector representing the metals industry, who shall be appointed by the President of the Philippines, upon recommendation of the particular sector of the industry which they represent, for a term of seven years with the consent of the Commission on Appointments. During the first four years of its organization, the chairman of the National Science Development Board shall be the chairman of the board. The Vice-Chairman shall be a representative of the private sector who shall be chosen by them among themselves: Provided, That during the fifth to the seventh year, the chairmanship shall come from the private sector chosen in the manner provided above and the vice-chairman shall be the chairman of National Science Development Board: Provided, further, That after the seven years the board shall be automatically dissolved and the private sector shall have the discretion to reorganize a new board with the chairman of the National Science Development Board being retained as an ex-officio member and: Provided finally, That the members of the board shall not receive any compensation except a per diem of fifty pesos for every session of the board which they attended but not to exceed two hundred pesos each month.