N.J. Stat. § 48:9-25.8
Any corporation now or hereafter organized and existing under any law of this State, which is empowered to manufacture or sell gas of any type or any mixture of gases of various types, including natural gas or any mixtures thereof, suitable for light, heat or power, and which is a public utility as defined in section 48:2-13 of the Revised Statutes, may, together with the purchase and acquisition of gas properties and facilities, also purchase or acquire, with the approval of the Board of Public Utility Commissioners, any franchises, consents, permits, rights, authorizations, designations or similar privileges related to the maintenance and operation of such gas property and facilities, granted by or obtained from any governmental authority, State, county, municipal, or any other political subdivision, from any corporation, which is also a public utility as defined by section 48:2-13 of the Revised Statutes, lawfully possessing such franchises, consents, permits, authorizations or similar privileges for the manufacture, sale and distribution of gas for light, heat and power as hereinabove described and which corporation is required by any order, judgment or decree of any court or regulatory body to divest itself of the ownership and operation of its gas plant, property and facilities.
N.J.S. § 48:9-25.8