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All assets, fixed and movable, personnel, records and documents of the Ramon Magsaysay Memorial School of Arts and Trades in the Municipality of Iba, Province of Zambales, as well as its liabilities shall be transferred to the Ramon Magsaysay Polytechnic College:Provided, however,That the positions, rights and security of tenure of personnel therein employed pursuant to the existing laws prior to its conversion into the Ramon Magsaysay Polytechnic College are not impaired.
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