Section 14Sec./Art. 14

Transitory Provision. - The Mindanao Economic Development Council (MEDCo), created under Executive Order No. 512 (s. 1992) and as amended by Executive Order No. 244 (s. 2000), Executive No. 354 (s. 2004), Executive Order No. 357 (s. 2004) and Executive Order No. 757 (s. 2008) is hereby abolished. All its budgetary appropriations, finances, properties, records, equipment, rights and other assets as well as liabilities are hereby transferred to the Authority.

There shall be mandatory separation of any employee as a result of the conversion of the MinDA. All incumbent officers and employees of the MEDCo shall continue in office as officers and personnel of the MinDA without demotion in rank nor diminution in pay and fringe benefits. However, if any employee elects to leave the service or retire, said employee shall be entitled to claim separation or retirement benefits as may be provided under existing laws governing the civil service or other laws and issuances whichever may be beneficial to the employee concerned.

The Authority shall continue to hold office in Davao City until such time that a permanent structure shall have been established in Maranang, Bukidnon.