c) Changes in the ownership or organizational status of the licensee;
d) Significant non-compliance by the licensee with current license provisions or other
Authority rules, decisions or orders.
Article 15: License transfer
15.1. Transfers of licenses, including the direct or indirect sale, assignment,
conveyance, lease or other transfer of assets or activities subject to a license to a
different individual or institution shall be subject to a prior written approval of the
Authority.
15.2. Such approval shall be granted after consideration of the matter and if the
proposed transfer meets all the conditions for granting the relevant license.
15.3. Failure to comply with such requirements shall amount to license suspension or
revocation.
Article 16: Procedures for license transfer or modification
16.1. A license transfer or modification proceeding is initiated by an application from
the licensee. Until the Authority has issued an approval of the transfer, no licensee may
attempt to transfer his/her license to another person.
16.2. A license transfer proceeding shall be conducted in the same manner as review of
a license application. The transferee shall be considered as the applicant to assume the
operational license. The duration of the license and the license terms and conditions
shall remain the same, unless the license transferee requests a license modification as
part of the transfer proceedings.
16.3. In the unusual circumstances where a licensee’s technical or financial status
raises questions about security of supply for citizens of the Republic (e.g., in cases of
financial insolvency), the Authority may, on its own initiative, commence a license
transfer proceeding in order to ensure that a license is transferred to a third person, in
order to provide secure supply for customers.
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