Republic Acts1 min read
Section 12Sec./Art. 12
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Term of the Members of the Board. - The initial appointees of the President of the Philippines shall have the following terms:
a. Three (3) directors, one from each sector, for two (2) years; and
b. The other two (2) directors, one (1) each from the government and private sector, for four (4) years.
Subsequent appointees shall serve a term of four (4) years, without reappointment. Appointment to any vacancy in the Board shall be for the unexpired portion of the term of the predecessor.
The members shall elect among themselves one who will serve as Chairman of the Board. The Board shall meet at least twice a month to discuss matters of policy in order to effectively carry out the provisions of this Act.
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