Section 8
SEC. 8. The grantee shall not lease, transfer, grant the usufruct of, sell or assign this permit, or the rights or privileges acquired thereunder to any person, natural or juridical, nor merge with any other person, without the previous approval of the Congress of the Philippines. Any person, natural or juridical, to which this permit may be sold, transferred or assigned, shall be subject to the corporation laws of the Philippines now existing or hereafter enacted, and any person to which this permit is sold, transferred or assigned shall be subject to all conditions, terms, restrictions and limitations of this permit as fully and completely and to the same extent as if the permit had been originally granted to such persons.