Section 1.    Section two of Republic Act Numbered Eleven Hundred and Fifty-One is hereby amended to read as follows:

"Sec. 2.    Chief and Assistant Chief of the Commission. — The Land Registration Commission shall have a chief and an assistant chief, to be known, respectively, as the Commissioner and the Assistant Commissioner of Land Registration who shall be appointed by the President with the consent of the Commission on Appointments. The Commissioner shall be a duly qualified member of the Philippine Bar with at least five years of practice in the legal profession, and shall be entitled to the same compensation, emoluments and privileges as those of a judge of the Court of First Instance. The Assistant Commissioner, who shall possess the same qualifications as those required of the Commissioner, shall receive compensation at the rate of twelve thousand five hundred sixteen pesos per annum. He shall act as Commissioner of Land Registration during the absence or disability of the Commissioner, and when there is a vacancy in the position until another person shall have been designated or appointed in accordance with law. The Assistant Commissioner shall also perform such other functions as the Commissioner may assign to him."