Change of ownership is a legal process that makes someone the official new owner of a business. When there is an ownership change within a fuel business, the new owner is required to apply for a new fuel license. You must apply to the Department of Mineral Resources and Energy (DMRE) for a site or a retail license to buy or sell petroleum products to members of the public. Change of ownership DMRE Applications are therefore mandatory, as stipulated by the Department. Once obtained, the license is valid for as long as your business operates.
A license certificate can be amended at any time if there has been any form of change to the license holder’s details (entity / individual etc.). A site license can be transferred if there is a change in ownership of a site and the new owner of that site must apply within six months of taking ownership of the site. However, when there is a majority change of ownership within the licensed entity an amendment is not applicable, and a new application must be lodged.
The DMRE Application Process
- Complete the appropriate Application form.
- Send the application form to the Department of Mineral Resources and Energy regional office.
- The Department will send you a letter stating that you must publish a notice of application in four newspapers.
- You must provide proof of the publication of the notice of application to the Department.
- Once you have a license, you must submit information on your business annually using the appropriate annual information (submission form),
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