Board of Directors.
Section 7
SEC. 7. Board of Directors. — The powers and functions of the Corporation shall be vested in a Board of Directors which shall be composed of seven (7) members as follows: The President of the Corporation, who shall preside at all meetings of the Board. He shall be appointed to serve on a full-time basis for a term of six (6) years by the President of the Philippines, with the consent of the Commission on Appointments; and A representative each from the Department of Agriculture and Natural Resources, the Department of Finance, the Department of Foreign Affairs, the Department of Commerce and Industry, the Board of Investments, and the Central Bank of the Philippines, other than their respective heads, to be designated by the latter, to serve for a period of two (2) years. All members of the Board hereinabove-mentioned may be reappointed or redesignated to their respective positions: Provided, however, That a member who has been appointed or designated to fill up a vacancy due to death, resignation, removal or permanent incapacity of a member, who shall serve the unexpired portion of the term of the member concerned, may likewise be reappointed or redesignated to the same position.