Sec. 1. Section 7 of Executive Order 778, dated 04 March 1982, is hereby amended to read as follows:
"Sec. 7. Board of Directors. The corporate powers of the Authority shall be exercised by and vested in a Board of NINE (9) members, which shall be composed of a Chairman, a Vice-Chairman and SEVEN (7) members. The Minister of Transportation & Communications shall be the ex-officio Chairman of the Board. The General Manager of the Authority shall be the ex-officio Vice-Chairman of the Board. The Minister of Finance, the Minister of Tourism, the Presidential Executive Assistant, the Chief of Staff of the Armed Forces of the Philippines, and Commissioner of Immigration & Deportation shall be the ex-officio members. TWO OTHER MEMBERS SHALL BE APPOINTED BY THE PRESIDENT UPON THE RECOMMENDATION OF THE BOARD.
In the absence of the Chairman, the Vice Chairman shall act as Chairman. The Chairman, the Vice Chairman and the Board members may designate their respective representatives to attend Board meetings in their absence. Such representatives shall attend Board meetings and the meetings of any committee assigned to their principals, and receive the corresponding per diems.
The Board shall meet regularly once a month and as often as the exigencies of the service demand. The presence of at least FIVE (5) members or their representatives shall constitute a quorum, and the vote of a majority of the members or representatives present there being a quorum shall be necessary for the adoption of any rule, regulations, resolution, decision or any other act of the Board.
The members of the Board or their representatives shall receive per diems, as the Board may approve, for each Board meeting actually attended by them: Provided, That such per diem shall not exceed One Thousand Pesos (P1,000) during any one (1) month for each member or representative.