A change in control refers to a material change in the private party's ownership arrangements whereby a different entity assumes effective control. Typically, the State requires the private party to seek prior approval of changes in control (other than in respect of on-market acquisitions, where consent may be sought immediately after the change in control) in order to ensure that the private party entity continues to be a suitable body to be entrusted with the contracted service delivery responsibilities. More recent project deeds may also allow for 'permitted share capital dealings', which are changes of control that the government party and the private party agree as part of negotiating the project deed. These do not require State approval.