Transfer of a project to another entity is a change of the beneficiary during implementation or during the sustainability period. It mainly comes into consideration in cases of legal succession – a merger, consolidation or division of a company – or in the transfer of a business or part of it. It is not a routine change that the beneficiary would report afterwards: it requires the prior consent of the provider, who verifies whether the new entity meets all the eligibility conditions of the original applicant, including financial capacity and registration in the relevant registers. The new beneficiary takes on the entire package of obligations, including sustainability, archiving and the risk of having to return the funds. When selling a company with a running project, this is a crucial circumstance for the buyer, which must be checked before signing. Always consult the procedure with the provider and with a lawyer in advance.
See also: Amendment to the Non-repayable Financial Contribution Agreement (NFP), Project sustainability, Due Diligence of Digital Assets.
