Section 3. All powers and rights vested in or exercised by the barrio assembly, barrio council and all barrio officials pursuant to Republic Act No. 3590, and such other powers and rights, appertaining to or conferred upon them by other laws, shall henceforth be exercised by the Barangay Assembly, Barangay Council and Barangay officials, and all duties and responsibilities vested in or conferred upon them by existing laws shall likewise be performed by the Barangay assemblies, Barangay councils, and Barangay officials.