Amending Section 1 Of Presidential Decree No. 243 As Amended By Presidential Decree No. 353 By Changing The Composition And Appointment Of The Members Of The Board Of Directors Of The Phili

MALACAÑANG
M a n i l a

PRESIDENTIAL DECREE No. 918 April 1, 1976

AMENDING SECTION 1 OF PRESIDENTIAL DECREE NO. 243 AS AMENDED BY PRESIDENTIAL DECREE NO. 353 BY CHANGING THE COMPOSITION AND APPOINTMENT OF THE MEMBERS OF THE BOARD OF DIRECTORS OF THE PHILIPPINE VETERANS INVESTMENT DEVELOPMENT CORPORATION

WHEREAS, the Secretary of National Defense and the Executive Secretary mentioned in Presidential Decree No. 243, as amended by Presidential Decree No. 353, are the Ex-Officio Directors, Chairman and Vice-Chairman respectively, of the Board of Directors of the Philippine Veterans Investment Development Corporation;

WHEREAS, the position of Executive Secretary was already abolished;

WHEREAS, the Secretary of National Defense has multifarious primary as well as auxiliary duties and responsibilities either as they are inherent to his function as Head of the Defense Establishment or as delegated by me, from time to time, as necessitated during the period of national emergency, hereby warranting certain needful change that would be promotive of a more effective National Defense Program.

NOW, THEREFORE, I, FERDINAND E. MARCOS, President...

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Summary of Presidential Decree No. 918

Amending the Composition and Appointment of the Board of Directors of the Philippine Veterans Investment Development Corporation

- The Board of Directors of the Philippine Veterans Investment Development Corporation shall be composed of seven members. (Section 1)
- The members of the Board of Directors shall be appointed by the President of the Philippines from a list of nominees submitted by the Secretary of National Defense. (Section 1)
- The nominees should preferably be qualified veterans and retirees in good standing. (Section 1)
- The President of the Philippines shall appoint the Chairman and Vice-Chairman of the Board of Directors from among the directors. (Section 1)
- Each Director shall receive a per diem allowance of P100.00 for every meeting of the Board actually attended by them. (Section 1)