98. Transfer of business.-

Where the ownership of the business of a person is entirely transferred and the transferee carries on such business either in its old name or in some other name, the transferee shall for all the purposes of the Act (except for liabilities under the Act already discharged by such person) be deemed to be, and to have always been registered, as if the certificate of registration of such person had initially been granted to the transferee; and the transferee shall on application to the prescribed authority be entitled to have the registration certificate amended accordingly.