PRESIDENTIAL DECREE NO. 1697 - AMENDING Sec. 39 OF THE PRESIDENTIAL DECREE NO. 1146, ENTITLED "AMENDING, EXPANDING, INCREASING AND INTEGRATING THE SOCIAL SECURITY AND INSURANCE BENEFITS OF GOVERNMENT EMPLOYEES AND FACILITATING THE PAYMENT THEREOF UNDER COMMONWEALTH ACT NO. 186, REPUBLIC ACT NO. 6111, AND PRESIDENTIAL DECREE NO. 442, ALL AS AMENDED AND FOR OTHER PURPOSES"
1. Sec. 39 of P.D. No. 1146 is hereby amended to
read as follows: |
"Sec. 39. The Board of Trustees; Its Composition; Tenure and Compensation. – The corporate powers and functions of the System shall be vested in, and exercised by the Board of Trustees composed of the President of the System and eight other members to be appointed by the President of the Philippines, three of whom shall represent three leading organizations or associations of government employees. The Trustees shall elect from among themselves a chairman and a vice-chairman.
"The Trustees,, except the President of the System who shall cease as trustee upon his separation, shall hold office for three years or until their successors are duly appointed and qualified. Vacancy, other than through the expiration of the term only. The members of the Board shall be entitled to a per diem of five hundred pesos a month, and reasonable transportation and representation allowances as shall be fixed by the Board.
"The Board of Trustees as presently constituted shall continue to hold office until their successors shall have been appointed and duly qualified."
Sec. 2. This Decree shall take effect upon its approval.
Done in the City of Manila, this 21st day of May, in the year of Our Lord, nineteen hundred and eighty.