All certificates valid for use in Idaho on the 31st day of August, 1947, and not subsequently lapsed or revoked, shall in all respects remain valid under the laws and regulations and upon the conditions applicable thereto when first issued. Nothing herein contained shall abridge the rights inuring to the holder of any valid certificate, issued after the 31st day of August, 1947, as the same exist at the time of the enactment of this act, subject to the right of the state board of education to adopt or amend any regulation pertaining to conditions upon which certificates may be used or renewed.
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