Be it enacted by the Senate and House of Representatives Philippines in Legislature assembled and by the authority of the same:

SECTION 1. Section four of Act Numbered Eighteen hundred and seventy, as amended, is hereby further amended to read as follows:

"SEC. 4. The government of said  university is hereby vested in a board of regents to be known as the 'Board of Regents of the University of the Philippines.' The Board of Regents shall be comprised of the Secretary of Public Instruction, who shall be ex officio chairman of the board, the Chairman of the Committee on Public Instruction of the Senate, the Chairman of the Committee on Public Instruction of the House of Representatives, the President of the University, the Director of Education, two alumni of the University of the Philippines elected by the Alumni Association of the University under such rules and regulations as may be adopted by the Association and approved by the Board of Regents, and four additional members to be appointed by the Governor-General, by and with the consent of the Philippine Senate. The President of the University shall be elected and his compensation shall be fixed by the Board of Regents. The members appointed by the Governor-General and those elected by the Alumni Association of the University shall hold office for a term of three years or until their successors are elected or appointed. In case of a vacancy among the members of the Board of Regents appointed by the Governor-General, such vacancy shall be filled by appointment by the Governor-General, by and with the consent of the Philippine Senate, and such appointee shall hold office for the unexpired term. All members of the Board of Regents shall be residents of the Philippine Islands. No person in the employ of the University in any capacity whatsoever, whether as dean, professor, instructor, lecturer,  or otherwise, shall be eligible to membership on the Board, whether by appointment by the Governor-General or by election of the alumni: Provided, however, That any person now holding office as member of the Board of Regents at the time of the approval of this Act who is or may be a member of the faculty of the University of the Philippines or in the employ of the same, or who may be serving by appointment by the Governor-General shall continue to hold office until the expiration of his term.

"Members shall serve without compensation other than actual and necessary expenses incurred either in attendance upon meetings of the Board or upon other official business authorized by resolution of the Board."

SEC. 2. This Act shall take effect on its approval.

Approved, February 18, 1933.