Section 8Sec./Art. 8

Board of Governors; Composition, Term and Compensation. - The Center shall be governed and its activities and properties shall be managed by a Board of Governors which shall be chaired by the Secretary of Trade and Industry and ten (10) other Filipino citizens, five (5) of whom shall come from the government sector, namely: the secretaries of the National Economic and Development Authority, the Department of Foreign Affairs, the Department of Finance, the Department of Agriculture, and the Department of Environment and Natural Resources; and five (5) of whom shall come from the private sector whose functions shall be related to the purposes of the Center, all of whom shall be appointed by the President:Provided, That a representative from the private sector shall be appointed as Vice-chairman:Provided, further, That theex-officioVice-Chairman shall be the Director General:Provided, finally, that all board members shall have a broad experience in business, management or finance.

The term of office of the Board members from the government sector shall be for the duration of their public office while the term of office of the private sector Board members shall be three (3) years each until their successors shall have been appointed:Provided, that they shall be eligible for reappointment after the expiration of their respective terms.

The Board members shall meet regularly at least once a month and as often as the exigencies of the service demand. The presence of at least six (6) members shall constitute aquorum, and the vote of a majority of the members present shall be necessary for the adoption of any resolution, rule or decision.

The Board members shall receive for every meeting attended aper diemto be fixed by the President of the President.