Section 10
SEC. 10. Transitory Provisions. The President shall organize an appropriate Committee, the composition of which shall include the Commission on Audit, the Civil Service Commission, and the Office of Budget and Management, as well as adequate representation of the Ministries; and which Committee shall, in consultation with the government corporate sector, immediately take steps to review and revise their policies and regulations in accordance with the standards of differential treatment provided herein, including the preparation of draft amendatory legislation as may be necessary, as well as to classify government corporations as provided in Section 8 of this Decree. The proposed revisions and classifications shall be submitted for Presidential review not later than two years after the issuance of this Decree. The revised policies and regulations shall provide for a reasonable period of time for their effectivity; Provided, however, that the status quo shall be maintained for a period of two years with respect to government corporations existing at the time of the issuance of this Decree which had been previously deemed excluded from the definition of a government-owned or controlled corporation insofar as the application of existing policies and regulations of the Commission on Audit, the Civil Service Commission, and/or the Office of Compensation and Position Classification of the Office of Budget and Management are concerned; Provided, however, that any provision of existing law to the contrary notwithstanding, all chartered government corporations shall be immediately subject to the audit jurisdiction of the Commission on Audit. The President may, at his discretion, institute such changes or otherwise modify the conditions of the status quo. Collective bargaining agreements existing at the time of the issuance of this Decree in those corporations previously deemed excluded from the coverage of the definition of government corporations, including renewals made during the status quo, shall continue to be in full force and effect until their expiration.