Description
‘Partial takeover’ means that a PART of the business of the beneficiary (including the Grant Agreement) is taken over by (one or more) other entity(ies) (‘transfer of a business unit as a going concern’, e.g. partial acquisition, distribution of a business unit on dissolution/liquidation, division/demerger, etc.). Consult the Annotated Model Grant Agreement for more information.
This partial takeover happens within one project.
The amendment type "Change of beneficiary due to partial takeover" was called ""partial transfer of rights and obligations’ in FP7".
Scope
The rights and obligations under the GA are transferred from the beneficiary to a new beneficiary — without passing via ‘termination’ (Article 50) or ‘addition of a new beneficiary’ (Article 56).
This amendment type should ONLY be used if the former beneficiary leaves the consortium. So this means that if the beneficiary stays on as part of the consortium, this amendment type cannot be used. In this case, simply use the amendment type for ‘addition of a beneficiary’.
When is it allowed
The icon will be displayed next to the beneficiary if the "Change of beneficiary due to partial takeover" is allowed. It is not allowed for:
- Affiliated Entities (Linked Third Parties)
- Not acceded beneficiaries
How to Change a beneficiary due to partial takeover
The coordinator must request an amendment, if the Commission/Agency agrees, the new entity will replace the original entity as party to the GA (as ‘new beneficiary’). The ‘transfer date’ will be added to the Preamble of the GA.
The beneficiaries must select the date in their amendment request. (If the new beneficiary joins the action, the transfer date must be the same date as the accession date. )
If the new beneficiary joins the Grant Agreement, it must first register (and get validated) in the Beneficiary Register — unless it already has a validated 'participant identification code' (PIC).
Partial takeover of a beneficiary
1 | Click the partial takeover icon on the line of the beneficiary you would like to transfer the rights forNote: In case of mono-beneficiary Grant Agreements or Grant Agreements with only one beneficiary, first add a new beneficiary. Only then the partial takeover icon will be displayed. |
2 | Complete the necessary fields
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3 | The partial takeover icon becomes green when the action has been completed and the status of the beneficiary becomes "terminated" automatically and an overview of all partial takeovers can be found by clicking the partial takeover overview icon when you click the partial takeover overview icon, the following overview of all partial takeovers appears |
To undo the partial takeover, click the undo partial takeover icon | |
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