Amendment status not verified — confirm the current text below against the official source.
( 1 ) The member of the Board, other than the ex-officio member, shall hold office for a term of 1 [five years] from the date on which their names are published in the Official Gazette . ( 2 ) The term of office of outgoing member shall extend to, and expire with, the day immediately preceding the date on which the names of their successors are published in the Official Gazette . ( 3 ) The members shall be entitled to such compensatory allowances as may be determined by regulations.