Board of Governors.
Section 6
SEC. 6. Board of Governors.—Its composition.—The powers and functions of the Administration shall be exercised by a Board of Governors to be composed of the Chairman and six members who shall be appointed by the President of the Philippines with the consent of the Commission on Appointments for a term of three years: Provided, however, That the first members appointed under the provisions of this section shall have terms of office two for one, two for two, and two for three years, respectively.