An Advisory Council of Elder Statesman, composed of elder statespersons, may be established to advise the President on important affairs of State.
(2) The immediate former President shall become the Chairperson of the Advisory Council of Elder Statesman: Provided, That if there is no immediate former President, the President shall appoint the Chairperson.
(3) The organization, function and other necessary matters pertaining to the Advisory Council of Elder Statesman shall be determined by Act.