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Section 13 Transfers of businesses

Original text. Later amendments are not shown.

Where –

(a)

a beneficiary has transferred all or part of the business to which an approval relates to another person (“the transferee”);

(b)

the transferee has given an undertaking to the Department to assume the conditions of grant in place of the beneficiary; and

(c)

the Department has accepted that undertaking,

the beneficiary shall be released from the conditions of grant, other than in respect of any breach or other matter occurring before the acceptance by the Department of the transferee’s undertaking.