Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. The EM's Signal Village Elementary School Annex of the Signal Village Elementary School in Zone 6, Barangay Signal Village, Taguig, Metro Manila is hereby separated from the EM's Signal Village, Elementary School and converted into a separate and independent elementary school to be known as the Kapitan Jose Cardones Memorial Elementary School.

SEC. 2. The Department of Education, Culture and Sports shall issue such rules and regulations as may be necessary to carry out the provisions of this Act.

SEC. 3. All assets, immovable and movable, records and personnel of the EM's Signal Village Elementary School Annex, as well as their liabilities and obligations, are hereby retained with the newly created independent elementary school (Kapitan Jose Cardones Memorial School): Provided, however, That the positions, rights and security of tenure of the personnel therein employed under existing laws shall not be impaired.

SEC. 4. The amount necessary for the implementation of this Act shall be charged against the current year's appropriations of the EM's Signal Village Elementary School Annex. Thereafter,

such sums as may be necessary for the operation and maintenance of the Kapitan Jose Cardones Memorial School shall be included in the annual General Appropriations Act.

SEC. 5. This Act shall take effect upon its approval.

Approved,

(Sgd.) AQUILINO Q. PIMENTEL JR.	(Sgd.) FELICIANO BELMONTE JR.
President of the Senate	Speaker of the House of Representatives

This Act which originated in the House of Representatives was finally passed by the House of Representatives and the Senate on April 4, 2001 and June 7, 2001, respectively.

(Sgd.) LUTGARDO B. BARBO	(Sgd.) ROBERTO P. NAZARENO
Secretary of the Senate	Secretary of the House of Representatives

Approved: AUG 10 2001