Section 21Sec./Art. 21

Transfer of Existing Facilities and Intangible Assets.- All existing facilities including wharves, piers, slips, docks, bulkheads, basins, cargo terminals, warehouses, cold storage, loading and unloading equipment, and passenger terminals and accessories, within the territorial jurisdiction of the Authority; other lands, buildings and other properties, movable or immovable, belonging to or presently administered by the Philippine Ports Authority; and all assets, powers, rights, interests and privileges relating to port works or operations, including all equipment, are hereby transferred to the Authority.