Law in details

Public Notice NPA N. 028 Requirements for Transfer of License

i. The Company (The Transferor-Company selling Licence) must be in good standing i.e. does not owe the Authority any licence fees as at date of Transfer ii. The Transferor company must have been issued with licence for at least 3 yrs before the Company can transfer the licence. iii. The Transferor Company must ensure that it has the minimum of  three (3) state-of-the art service stations with canopies at the pump island. iv. Evidence of local participation i.e. at least 50% shares (in Transferee Company) to be held by Ghanaian citizens. v. Evidence of ownership/participation in the form of the following: a) Sale of Shares- Share Purchase Agreement: evidence that consideration amount has been paid towards the Share transfer or evidence of some form of transfer of ownership b) Evidence of sale of Assets-Sales Purchase Agreement c) Evidence of relevant ownership properly filed with the  Registrar General 

Procedures to Follow

1. Pursuant to the provisions of Act 691, a licensee seeking to transfer a PSP licence shall have operated and be in good standing in the Petroleum Downstream Industry for a minimum of three (3) years from the date the PSP license was granted.

2. A licensee seeking to transfer a licence shall formally apply to the National Petroleum Authority (NPA) in writing prior to commencing the transfer process and submit the following documents with the application:
i. Business Registration Documents (i.e. Certificate of Incorporation,  Certificate to Commence Business and Company’s Regulations of both the Transferor and Transferee Company)
ii. Special Resolution from shareholders of Transferor Company approving the disposal of its assets and issued shares to the Transferee Company.
iii. Board Resolution of Transferor Company approving the disposal of its assets and issued shares to Transferee Company;
iv. Special Resolution of shareholders of the Transferee Company authorizing the purchase of shares and assets of the Transferor Company;
v. Board Resolution of the Transferee Company authorizing the purchase of shares and assets of the Transferor Company;
vi. Stamped Share/Assets Purchase Agreement between the Transferor and the Transferee indicating the sale/purchase of the assets from the Transferor by the Transferee company.
vii. Evidence that the Transferor Company has fulfilled all obligations to the Authority including payment of licence fees, etc. The documents listed above are without prejudice to any further documentation that may be required by the NPA as well as the Ghanaian Local Content Policy requirement
viii. Evidence of valid regulatory permits including an environmental permit from the Environmental Protection Agency (EPA).

3. Upon the grant of a conditional approval of the application by the NPA, the Transferee company shall submit the following documents to complete the approval process:
i. Revised Forms 3&4 indicating the share acquisition by the Transferee Company.
ii. Shareholder and Board Resolution supporting the change of company name, where applicable.
iii. Amended Company’s regulations of the Transferee Company
...

Responsible Institution

National Petroleum Authority

No.6 George Walker Bush Highway Adjacent Petroleum Commission Dzorwulu, Accra
Email:info@npa.gov.gh
Website:http://www.npa.gov.gh/

Relevant Forms to Download

Not Available

Fees / Charges




Not Avaiable