Section 5
SEC. 5. Section Five of Republic Act Numbered Forty Seven Hundred Twenty-Four is hereby amended to read as follows: "SEC. 5. Board of Trustees.—The Center shall be administered by a Board of Trustees composed of the Chairman of the National Science Development Board as Chairman ex-officio, a representative of the Board of Investments, to be designated permanently for one year by the Board, a representative of the National Economic Council, to be designated permanently for one year by the Council, the Director of Mines, and three representatives from the private sector representing the metals and allied industries, who shall, upon recommendation of the active associations and professional organizations duly registered with the Securities and Exchange Commission representing the primary metals sector, the metal forming sector and the equipment machinery and durable consumer goods manufacturing sector be appointed by the President of the Philippines with the consent of the Commission on Appointments. The members of the Board shall elect the Vice-Chairman from among themselves, each member from the private sector shall serve for four years and until his successor shall have been appointed and shall have qualified: Provided, That no vacancy shall be filled except for the unexpired portion of any term. The presence of four members constitute a quorum. The members of the Board shall not receive any compensation except a per diem of one hundred pesos for every session of the Board which they attend but the total of such per diems shall not exceed five hundred pesos each month: Provided, Further, That the present members of the Board shall continue to hold office until one year from the approval of this Act or until their successors shall have been duly appointed and shall have qualified. There shall be an Executive Director of the Center, to be appointed by the Board: Provided, That within two years from the date of the approval of this Act, the Board may, if the exigencies of the service so require, appoint a part time director any law to the contrary notwithstanding. The director shall have the following powers and duties: Plan, program, direct, supervise and coordinate all activities of the Center; Assist the Board in the determination, formulation and implementation of policies, procedures, rules and regulations as may be necessary for the effective operation of the Center; Promote and maintain close coordination between the government and the private sector engaged in the development and expansion of the metals and allied industries; Subject to such conditions as the Board may prescribe, to sign personally or through his duly authorized representative, checks, vouchers or other documents involving the acquisition or disposition of property or funds ;and Perform such other related duties as pertain to the office of an Executive Director and those that may be assigned to him by the Board.