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; chanroblesvirtualawlibrary
WHEREAS, the position of Executive Secretary was already abolished;chanroblesvirtualawlibrary
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 of the Philippines
and Commander-in-Chief of all the Armed Forces of the Philippines,
pursuant to Proclamation No. 1081, dated September 21, 1972, and in
order to effect the desired changes and reforms in the social and
economic structure of our Society, do hereby order and decree the
amendment of Presidential Decree No. 243, as amended by Presidential
Decree No. 353, by modifying the first paragraph of Section 1 of the
first mentioned Presidential Decree to read as follows:cralaw:red
"Sec. 1. The Corporation shall be governed and its
activities shall be directed, controlled and managed by a Board of
Directors which shall be composed of seven members to be appointed by
the President of the Philippines from a list of nominees who should
preferably be qualified veterans and retirees in good standing to be
submitted by the Secretary of National Defense. The President of the
Philippines shall likewise appoint the Chairman and Vice-Chairman,
respectively, from among the directors of the Board. For every meeting
of the Board actually attended by them, each Director shall receive a
per diem allowance of P100.00."
Done in the City of Manila,
this 1st day of April, in the year of Our Lord, nineteen hundred and
seventy-six.
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