Amendment status not verified — confirm the current text below against the official source.
Finances of licensees - (1) The State Government may from time to time make subventions to any licensee for the purpose of sub-section (3) of section 12 of this Act or the Electricity (Supply) Act, 1948 for such amounts as may be recommended by the Commission and on such terms and conditions as the State Government may determine. (2) The State Government may from time to time advance loans to any licensee or Generating Company which for the time being is wholly or partly owned by the State Government on such terms and conditions, not inconsistent with the provisions of this Act or the Electricity (Supply) Act, 1948, as the State Government may determine. (3) The State Government may guarantee in such manner as it thinks fit the re-payment of the principal on the payment of interest (or both) or any loan proposed to be raised by any licensee or Generating Company which is for the time being wholly or partly owned by the State Government or the discharge of any other financial obligation of any such licensee or Generating Company. (4) The State Government shall be entitled to inspect and verify the accounts of every licensee or generating company obtaining the benefits under sub-sections (1) (2) and (3) of this section. PART - IX COMMISSION’S POWER TO PASS ORDERS AND ENFORCE DECISIONS