Section 24Sec./Art. 24

Transitory Provisions. -Upon the effectivity of this Act, the personnel of the Authority shall, unless removed for cause and after due process, continue to perform their duties and responsibilities without diminution of their rank, salaries and other emoluments.

The CDA created under Republic Act No. 6939 is hereby reorganized and its employees are hereby absorbed in the Authority created under this Act, in accordance with its staffing pattern, subject to civil service laws, rules and regulations and DBM rules and regulations: Provided, finally, That those who opt to retire or separate from office voluntarily shall be given separation pay computed based on DBM guidelines and regulations.

The incumbent Chairperson and Administrators of the CDA shall continue to serve and act as Chairperson and Members of the Board until the new composition of the Board shall have been constituted.

The Authority shall collect existing accounts receivables from the transfer of funds from the DA under Presidential Decree No. 175, as amended, and such other funds coursed through the Authority, or enter into compromise agreements or the condonation of said accounts, subject to rules and regulations as may be prescribed by the Authority and the Commission on Audit (COA).

All assets and liabilities of the current CDA as well as the unexpended appropriations shall be transferred to the Authority.