Section 28Sec./Art. 28

Transitory Provisions. - All properties, assets, funds, rights, obligations, and liabilities are hereby transferred to the AFAB except for the liabilities that are not properly accounted for as per the reports coming from the Commission on Audit, which shall be retained by the PEZA.

The AFAB shall be responsible for the operations, administration, management and development of the FAB. The AFAB shall effect the transfer herein provided m a manner that will ensure the least disruption of ongoing programs of the BEZ. The qualified and necessary personnel of the BEZ shall be transferred to and absorbed by the AF AB: Provided, That the tenure, rank, salaries and privileges of such personnel are not reduced or adversely affected. The personnel whose services are not retained by the AFAB shall be granted separation pay and retirement and other benefits they are entitled to under existing laws but in no case shall the separation pay be less than one (1) month for every year of service.

In the period prior to the actual assumption of duties by the AF AB, all officers and employees of the BEZ shall continue to exercise their functions and discharge their duties and responsibilities. The BEZ shall be deemed abolished upon the organization of the AF AB.