(1) This section applies if--
(a) there is an overlapping authority for a GHG lease; and
(b) a GHG coordination arrangement applies to the GHG lease; and
(c) the GHG lease is transferred.
(2) It is a condition of the GHG lease that its holder must continue to be a party to a GHG coordination arrangement for the lease while the overlapping authority continues in force.