83 OG No. 28, 3220-H Supp. (July 13, 1987)
"SEC. 5. Composition of the Board. - The Civil Aeronautics Board shall be composed of the Secretary of Transportation and Communications or his designated representative as Chairman, the Assistant Secretary for Air Transportation of the Department of Transportation and Communications as Vice-Chairman, the Commanding General of the Philippine Air Force and two (2) members to be appointed by the President of the Philippines. They shall hold office at the pleasure of the President.SEC. 2. All laws, orders, issuances, rules and regulations or parts thereof inconsistent with this Executive Order are hereby repealed or modified accordingly.
No member of the Board shall have any pecuniary interest in, or own any stock or bond of, any civil aeronautics enterprise."