Section 8Sec./Art. 8

Section 15 of Republic Act No. 9490 is hereby amended to read as follows:

"Section 15. Composition/Board of Directors/Tenure of the APECO. - The powers of the APECO shall be vested in and exercised by a Board of Directors, hereinafter referred to as the Board, and its duly constituted set of officers which shall be composed of the following:

"(a) The Chairman who shall be appointed by the President of the Republic of the Philippines;

"(b) The President and CEO who shall be appointed by the Board of Directors and who shall be the Vice Chairman of the Board; and

"(c) The Board of Directors composed of the following:

"(1) The Governor of the Province of Aurora;

"(2) The Congressional Representative of the district covering the site of the Aurora Ecozone;

"(3) The President and CEO of the APECO;

"(4) The mayor of the Municipality of Casiguran, Province of Aurora alternating every year with the mayors of the municipalities of Dinalungan and Dilasag for a term of one (1) year each;

"(5) One representative from the domestic investors;

"(6) One representative from the foreign investors;

"(7) One representative from the workers working in the Aurora Ecozone; and

"(8) Two prominent citizens of the Philippines of whom one shall be a resident of the Province of Aurora.

"The Governor, the Congressional Representative and the mayors of the municipalities of Casiguran, Dinalungan and Dilasag, Province of Aurora shall serve as ex officio members of the Board, whose term in the Board corresponds to their terms as elected officials, except that in the case of the municipal mayors serving on a rotation basis, each one shall serve one calendar year starting on the 1st of January till the 31st of December.

"The Chairman and the members of the Board, except the ex officio members, shall be appointed by the President of the Philippines to serve for a term of six (6) years, unless sooner separated from service due to death, voluntary resignation or removal for cause. In case of death, resignation or removal for cause, the replacement shall serve only the unexpired portion of the term. The President and CEO shall serve for a term of three (3) years subject to reappointment by the Board of Directors.

"Except for the representatives of the business and labor sectors, no person shall be appointed by the President of the Philippines as a member of the Board unless he is a Filipino citizen, of good moral character, of proven probity and integrity, and a degree-holder in any of the following fields: economics, business, public administration, law, management or their equivalent, and with at least ten (10) years relevant working experience preferably in the field of management or public administration.

"The members of the Board shall each receive per diem at a rate to be determined by the Department of Budget and Management in accordance with existing rules and regulations: Provided, however, That the total per diem collected each month shall not exceed the equivalent per diem for four (4) meetings. Unless and until the President of the Philippines has fixed a higher per diem for the members of the Board, such per diem shall not be more than Ten thousand pesos (P10,000.00) for every Board meeting."