Act for Promotion of Private Participation in Infrastructure Projects Article 51

A private institution shall not transfer, lease out, or create any encumbrance on, the concession obtained under the concession agreement, nor shall it make such concession an object for enforcement in a civil action, unless the authority-in-charge declares that such an act is necessary for the improvement plan specified in Article 52 or the proper measures specified in Article 53.Without the consent of the authority-in-charge, a private institution shall not transfer, lease out, or create any encumbrance on, any operating asset and/or equipment obtained from the building and/or the operation of an infrastructure.Any transfer, lease, or creation of any encumbrance in violation of any of the preceding two paragraphs shall be null and void.Without the consent of the authority-in-charge, a private institution shall not proceed with any merger or spin-off.