S.L. 573.4 Art. 5Transfer of Government property given for commercial use by the lessee to a family member.

(1) Any person holding a commercial property by title of lease from the Government or the Authority may during the duration of the original lease and saving other provisions of these regulations, apply to the Authority to transfer or assign his rights to his son/daughter in the event that he would like to retire from the commercial activity he is exercising.

(2) The conditions of the lease shall remain the same until the expiry of the original lease and the only element to be altered in the said lease is the name of the lessee.

(3) In the event that a transfer request is made for more than one son/daughter, only one application shall be made and those recognized children shall be jointly and severally liable for all obligations imposed in the original lease on the original lessee.