Regulation 62(1) A holder of a reconnaissance licence or a restricted reconnaissance licence may not later than  sixty days before the expiration  of the licence, apply to the Commission as set out in Form Seventeen of the First Schedule, to transfer or assign the licence.(2) A transaction which  purports  to transfer  or assign a licence and which does not comply with these Regulations  is void.(3)  The application  shall include(a) a certified  copy  of the reconnaissance licence  to be transferred or assigned;(b) certified copies of documents  of incorporation of the transferee or assignee;(c)  copies of reports on reconnaissance  work done to be passed on to the transferee  or assignee;(d) information on  the  qualifications and  experience of the manager and  other  members  of the technical  team  of the transferee  or assignee;(e)  a deed of transfer  or assignment  including  a provision  that the transferee  or assignee shall take over the rights and obligations  of the holder  under the licence;(j)  a certified revised work  programme of the  transferee or assignee, if applicable;(g) evidence of payment  of applicable  fees;(h) evidence of financial resources available to the transferee or assignee;(i)  certified annual reports of the transferee,or assignee including audited  financial  statements; (j)  in the case of an application  for transfer or assignment  of a restricted  reconnaissance licence, proof  that  the transferee or assignee is a citizen or where the transferee or assignee is not a citizen, the proposed  investment is at least ten million United  States dollars;(k)  in the  case  of a transfer or assignment of an  undivided proportionate part of a licence, the polygon that defines the number  of blocks to be transferred  or assigned; and (l)  details of any transaction  between  the holder and the transferee or assignee in respect of the licence.(4) Where  it is required  by the Commission, the applicant  shall submit  particulars of  the transferee's  or assignee's  principals  or share­ holders  in respect of subregulations (3)(b) and (3)(i).

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