Section 10
SEC. 10. The grantee shall not lease, transfer, grant the use of, sell or assign this permit, or the rights and privileges acquired by virtue of this permit, to any person, firm, company, corporation or any other legal or commercial entity, nor merge with any other person, company, or corporation organized for the same purpose, without the approval of the Congress of the Philippines first had. Any corporation to which this permit may be sold, transferred or assigned shall be subject to the corporation laws of the Philippines now existing or hereafter to be enacted, and any person, firm, company, corporation, or other legal or commercial entity to which this permit is sold, transferred or assigned shall be subject to all the 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 said person, firm, company, corporation or other legal or commercial entity.