Section 26Sec./Art. 26

Transitory Provisions. - The incumbent Chairman, Executive Director and Deputy Executive Directors of the NHI shall continue to serve in their respective capacities as the Chairman, Executive Director and Deputy Executive Directors of the herein established NHCP for one (1) year after the effectivity of this Act or until a new Chairman and Executive Director shall have been appointed by the President and the two (2) new Deputy Executive Directors shall have been appointed by the Board.

All assets, fixed and movable, and all contracts, records and documents relative to the operations of the NHI are hereby transferred to the NHCP.

All agreements and contracts entered into by the NHI shall remain in full force and effect unless otherwise terminated, modified or amended by the NHCP.

Officials and employees of the NHI shall be absorbed by the NHCP on the basis of merit and fitness: Provided, That officers and employees who shall be separated from the service as a result of the abolition of any of the divisions therein shall be entitled to retirement and other separation benefits provided under existing laws.