(1) The Licensee shall not assign or attempt to assign the rights granted by this licence to any person other than a Commonwealth citizen or a company incorporated in Great Britain or Northern Ireland.
(2) Subject as aforesaid the Licensee shall not assign or attempt to assign the rights granted by this licence in respect of the licensed area or any part thereof without the prior consent in writing of the Minister which shall not be unreasonably withheld in any case where the Licensee shall comply with the terms and conditions following—
(a)the Licensee shall apply to the Minister in writing for his consent and such application shall state, where the proposed assignee is an individual, his address, nationality and occupation, and where the proposed assignee is a company, the nature of and the principal place of business of the company, the names and nationality of the directors thereof and the names and holdings of the principal shareholders;
(b)the Licensee shall with his application furnish evidence as to the financial and technical qualifications of the proposed assignee and as to the latter’s ability to comply with the terms and conditions of this licence and shall forthwith upon request by the Minister furnish any further evidence as to such matters which may be required; and
(c)where the Licensee is applying for the consent of the Minister to an assignment of the said rights in respect of part only of the licensed area he shall with his application deliver two copies of the Ordnance Survey map annexed to the licence upon which shall be delineated both the part or parts of the licensed area in respect of which the said rights are proposed to be assigned and the part or parts thereof in respect of which the said rights are to be retained.
(3) No assignment may be made of the rights granted by this licence in respect of part only of the licensed area unless the part of the licensed area in respect of which such rights are proposed to be assigned and the part thereof in respect of which such rights are to be retained by the Licensee comply with regulation 3.
(4) The Licensee shall not sublicence or subject as aforesaid part with the possession of any of the rights hereby granted.