Section 20Sec./Art. 20

Divestment. - A Private Partner may divest its ownership, rights, or interests in a PPP Project, subject to the approval of the Head of the Implementing Agency: Provided, That the divestment shall be after a holding or lock-in period as indicated in the PPP contract: Provided, further, That the new Private Partner, has equal or better qualifications as with the previous Private Partner.

The Implementing Agency may also divest its ownership, rights, or interests in a PPP Projects: Provided, That PPP Projects which involve full or partial divestment or transfer of ownership of government assets or properties shall be subject to approval of the appropriate Approving Body and applicable laws, decrees, orders, rules, and regulations.