(1) Where an approved partnership business intends to sell or transfer the partnership business during the applicable period of the tax relief granted under this Act, the approved partnership business shall inform the Minister, in writing, of the proposed changes in the ownership or leasehold of the approved partnership business.
(2) The tax relief may, on the approval of Cabinet, continue to apply to the new approved partnership business for the remainder of the applicable period of the tax relief.
(3) The Minister may require additional information from the new proposed owner or lessee of an approved partnership business.
(4) The Minister may, on the approval of Cabinet and by Order published in the Gazette, transfer the tax relief granted to an approved partnership business to the new partnership business where —
(a) an approved partnership business merges with or is taken over by another approved partnership business, or forms part of a company's reconstruction; or
(b) in its opinion it is equitable or in the public interest so to do.
(5) Prior to the publication of an Order under subsection (4), Cabinet may require the approved partnership business to which the status or an approved partnership business is to be transferred, to comply with such conditions and to give such undertakings and assurances in such form as Cabinet considers desirable.
(6) On the publication of an Order under subsection (4) all the rights, privileges, benefits, immunities, duties and obligations conferred or imposed by or under this Act on the approved partnership business may be transferred to the new approved partnership business.