Upon receipt of an application for a certificate of need and fee as provided for in section 224 of this chapter, the Commissioner shall review such application to determine whether the proposed establishment, construction, or expansion of a health facility or health service, or incurring of capital expenditure on behalf of a health facility or health service, or acquisition of major medical equipment is consistent with the Territorial Health Plan for the Virgin Islands. The Commissioner shall establish rules and regulations for the review of certificate of need applications. The Commissioner shall issue a certificate of need if the applicant and the proposed establishment, construction, or expansion of a health facility or health service, or incurring of capital expenditure on behalf of a health facility or health service, or acquisition of major medical equipment meet the requirements established under this chapter. A certificate of need for Government Hospitals or other related Government health care facilities, unless sooner suspended or revoked, shall be renewable once every one to three years without charge upon filing by the applicant and approval by the Commissioner, of a report upon such uniform dates and containing such information in such form as the Commissioner prescribes by regulation. Each certificate of need shall be issued only for the premises and persons named in the application and shall not be transferable or assignable except with written approval of the Commissioner. Each certificate of need shall be posted in a conspicuous place on the applicable premises or shall otherwise be available for public inspection.