Section 37Sec./Art. 37

Transitory Provision. - The DEPDev shall, by virtue of this Act, be subrogated to all the rights and assume all the liabilities, funds, records, properties, assets, equipment, necessary personnel, and unexpended appropriations or allocations of the NEDA.

All contracts and liabilities of the NEDA are hereby transferred to and assumed by the DEPDev and shall be elected upon in accordance with Presidential Decree No. 1445, otherwise known as the "Government Auditing Code of the Philippines", as amended, and other pertinent laws, rules, and regulations.

Subject to the succeeding section, all current officials and employees of the NEDA shall enjoy security of tenure and be retained under and absorbed by the DEPDev, in accordance with the staffing pattern and the selection process as prescribed under Republic Act No. 6656, or the "Government Reorganization Law". Current officials and employees of the NEDA shall continue to draw their salaries, benefits, and other emoluments from the appropriations of the NEDA until the corresponding funds shall have been appropriated and released to the DEPDEv no later than one (1) year from the effectivity of this Act.

Any reference to the NEDA, its Director-General, Secretary, or the NEDA Board in any existing law, executive order, administrative order, presidential proclamation, rules and regulations, and other issuance related to the mandate of the DEPDev, shall hereafter refer to the DEPDev, the DEPDev Secretary, and the ED Council, respectively.

All programs and projects submitted to the NEDA for appraisal or those endorsed by the current ICC for the approval of the NEDA Board prior to the effectivity of this Act shall be subject to the prevailing procedure under laws, rules and regulations, guidelines, and issuances at the time these were submitted to the NEDA, or endorsed to the ICC, as the case may be.

The President may retain the incumbent Secretary of the NEDA as the Secretary of DEPDev, without need of a new appointment, in line with the authority of the President under Article VII, Section 16 of the 1987 Philippine Constitution to nominate and appoint a new Secretary.