Section 45Sec./Art. 45

Assignment or Transfer of Permit. - Assignment or transfer of the permit or change of operatorship shall be allowed only upon prior written approval by the DOE based on acceptable reasons and compliance by the existing Permit Holder, the assumption by the assignee of all obligations of the existing Permit Holder, and upon meeting the minimum legal, technical, and financial qualifications by the assignee: Provided, That this also applies to sales of shares that would result in a change in control of the Permit Holder or its ultimate parent: Provided, further, That assignments or transfer shall not be allowed near the end of life of a PDNGI Facility if the assignee or transferee cannot comply with the guidelines and regulations for the decommissioning and abandonment of PDNGI Facilities as provided in Section 24 of this Act and if the Environmental Guarantee Fund is not maintained and administered in accordance with the policies and guidelines of the DENR.