Requirement of Approval by I Liheslatura [the

Legislature] for Privatization. No office, department, agency, institution, board, bureau, commission, council, authority, committee of territorial government, branch, or the Guam Visitors Bureau, of the government of Guam may privatize any function or transfer any real property of the government of Guam without the approval of I Liheslatura [the Legislature]. Any plan or action taken by an office, department, instrumentality, agency, institution, board, bureau, commission, council, authority, committee of territorial government, branch, or the Guam Visitors Bureau purporting to privatize any function or transfer any real property of the government of Guam shall be transmitted to I Liheslatura [the Legislature] which, by statute, may amend, approve, or disapprove the plan or the action taken within forty-five

(45)days or said plan or action shall be deemed approved.