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 existing laws and regulations, or those that may hereafter be 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 said permit had been originally granted to such each person.