Assignment or Transfer of Permit.
SEC. 45. Assignment or Transfer of Permit. - Assignment or transfer of the permit or change of operatorship shall be allowed only upon prior written approval by the DOE based on acceptable reasons and compliance by the existing Permit Holder, the assumption by the assignee of all obligations of the existing Permit Holder, and upon meeting the minimum legal, technical, and financial qualifications by the assignee: Provided, That this also applies to sales of shares that would result in a change in control of the Permit Holder or its ultimate parent: Provided, further, That assignments or transfer shall not be allowed near the end of life of a PDNGI Facility if the assignee or transferee cannot comply with the guidelines and regulations for the decommissioning and abandonment of PDNGI Facilities as provided in Section 24 of this Act and if the Environmental Guarantee Fund is not maintained and administered in accordance with the policies and guidelines of the DENR.
Amicable Settlement.
SEC. 46. Amicable Settlement. - All parties shall make their best efforts to amicably settle any dispute arising from the performance or interpretation of any provision of this Act.
Congressional Oversight.
SEC. 47. Congressional Oversight. - The Joint Congressional Energy Commission (JCEC) shall exercise oversight powers over the implementation of this Act. It shall conduct a policy review five (5) years from the effectivity of this Act, without prejudice to an earlier periodic review as necessary.
The DOE, ERC, and other relevant government agencies shall submit to the JCEC, no later than the fifteenth (15th) day of September each year, annual reports which shall include the latest relevant data, implementation reviews and reports, and policy and regulatory issues.
Appropriations.
SEC. 48. Appropriations. - The amount necessary for the implementation of this Act shall be included in the annual General Appropriations Act.
Implementing Rules and Regulations.
SEC. 49. Implementing Rules and Regulations. - The DOE shall promulgate the rules and regulations for the effective implementation of this Act within six (6) months after its effectivity.
Separability Clause.
SEC. 50. Separability Clause. - If, for any reason, any provision of this Act is declared unconstitutional or invalid, the other parts or provisions hereof, which are not affected thereby, shall continue to be in full force and effect.
SEC. 51. Repealing Clause. -Any law, presidential decree or issuance, executive order, letter of instruction, rule, or regulation inconsistent with the provisions of this Act is hereby repealed or modified accordingly.
Saving Clause.
SEC. 52. Saving Clause. - The provision of Presidential Decree No. 87, otherwise known as "The Oil Exploration and Development Act of 1972"; Republic Act No. 9136, otherwise known as the "Electric Power Industry Reform Act of 2001"; and Republic Act No. 9513, otherwise known as the "Renewable Energy Act of 2008", shall remain applicable and shall not in any way be amended or repealed by the provisions of this Act and its rules and regulations.
Effectivity.
SEC. 53. Effectivity. - This Act shall take effect after fifteen (15) days following the completion of its publication in the Official Gazette or in a newspaper of general circulation.
Approved,
(SGD.)FERDINAND MARTIN G. ROMUALDEZ
(SGD.) FRANCIS "CHIZ" G. ESCUDERO
Speaker of the House of Representatives
President of the Senate
This Act was passed by the Senate of the Philippines as Senate Bill No. 2783 on November 11, 2024 and adopted by the House of Representatives as an amendment to House Bill No. 8456 on November 13, 2024.
(SGD.) REGINALD S. VELASCO
(SGD.) RENATO N. BANTUG, JR.
Secretary General House of Representatives
Secretary of the Senate
Approved: JAN 08 2025
(SGD.) FERDINAND ROMUALDEZ MARCOS JR.
President of the Philippines
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
