(a) If a Change in Control occurs due to the transfer of listed shares or interests in an entity with ultimate Control of any member of the private party group or where relevant, a material sub-contractor:
(i) the private party must promptly notify government of such event (providing full details); and
(ii) government must notify the private party within a specified period whether it accepts or rejects the Change in Control.
(b) If government rejects the Change in Control, the private party must procure that the relevant person cease to retain the Control within a specified time. In the case of a material sub-contractor, the private party must procure an alternative sub-contractor.
(c) Failure to so procure will give rise to a Default Termination Event.
(d) Government may, but is under no obligation to do so, provide pre-approval to a Change in Control if the private party so requests and provides sufficient information to government.