Library / Extraordinary Federal Republic of Nigeria Official Gazette No. 38
Extraordinary Federal Republic of Nigeria Official Gazette No. 38

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“assignment or transfer through private placement or public listing” 
means Private Placement or Public listing in Stock Exchange, of a part or 
of the whole of the shares of a company which holds a licence or permit 
; 
“assignment or transfer by testamentary instrument” means the 
assignment or transfer of shares or an asset by means of a Will or Letters 
of Administration : 
“change in ownership or control” means a change in ownership or contro! 
of a permit or licence to operate a midstream or downstream facility. or a 
change in ownership or control of 
an interest or rights therein either through 
lease, lien, assignment, mortgage. or a change in ownership or control of an 
interest or rights therein ofa corporate body either through merger, acquisition, 
takeover, shares divestment in part or whole or similar transaction 
: 
“merger” means the fusion of two or more companies into one new 
legal entity 
; 
GN™ means Nigerian Naira 
; 
operation of law™ refers to a judgment by a competent court of law, 
an award by an arbitration panel, the appointment of a receiver, receiver/ 
manager or administrator under the Companies and Allied Matters Act. 
No. 3, 2020 or any comparable legislation ina foreign jurisdiction 
; 
“takeover” means a transfer or purchase of the shares of a publicly 
listed company by a person which gives the person control over management 
and affairs of the company 
: 
“title documents” means deed of assignment, certificate of occupancy, 
deed of lease, deed of sublease, purchase agreement and any other 
document evidencing ownership 
: 
“iransferee™ means an assignee or the proposed new holder of the licence 
or permit 
; 
“transferor” means the assignor or current holder of the licence or permit 
prior to the Authority’s approval of an assignment or transfer of the licence 
or permit 
: and 
“USD” mean United States Dollars. 
13. These Regulations may be cited as the Assi 
Licence and Permit Regulations, 2023. 
nment or Transfer of 
Citation.