Amendment status not verified — confirm the current text below against the official source.
For section 7-A of the principal Act, the following section shall be substituted, namely- ''Determi- nation of 7-A. (1) Where an undertaking of a licenseeis amount pay- sold under sub-section (I) of section 5 or purchased able. under section 6, the amount payable for the under- taking shall be the book value of the undertaking at the time of purchase 0r where the undertaking has been delivered before the purchase under sub- section (3) of sectio:a 5, at the time of .Jelivery of the undertaking. · (2) The book value of an under taking for the purpose of sub-section (1) shall be deemed to be the depreciated book value as shown in the audited balance sheet of the licensee under the law for the time being in force, of all lands, buildings, works, materials and plant of the licensee, suitable to and used by him for the purpose of the under- taking, other than (i) a generating station declared by the licensee not to form part of the undertaking for the purpose of purchase and (ii) service lines or other capital works or any . part thereof which have been constructed at the experise of the con- sumers, but without any addition in respect of com- pulsory purchase or of goodwill or any profits which may be or might have been made from the under- taking or of any similar consideration. (3) Notwithstanding anything contained in any licence or any instrument, order, agreement or law for the time being in force in respect of any addi- tional sum by whatevf'r name may it be called, payable to a licensee for compulsory purchase, the licensf'e shall be entitled only to a solatium Gf ten percentum of the book value as determ ined under sub·sections (1) and (2) for compulsoty purehase of his undertaking under section 6. (4) No provision of any Act for the time being in force including the 01her provisions of this Act 293 and of any rules made thereunder or of any instru- ment including licence having effect by virtue of any of such Acts or any rule made thereunder, shall, in so far as it is inconsistent with any of the provisions of thia aection, have any effect." ~T!,::14 .5~ (I) The Indian Electricity (Assam Amendment}[Allsaa Otdi• Ordinance, 1972. Is hereby repealed. aa.e• Vil (2) Notwithstanding such repeal and notwithstan- ding any judgement, decree or order of any court or tribunal, any action taken or purported to have been taken or anything done or purported to have been done, or any right, obligation or liability acquired or incurred, by or on behalf of the Government •f 1911. of Assam or the Assam State Electricity Board, A~sii~di in pursuance of the provisions of the Indian Ele- nanc~ "VII ctricity (Assam Amendment) Ordinance, 1972, shall of 1972. be deemed to have been taken, done, acquired or incurred under the corresponding provisions of thi1 Act, by or on behalf of the Government of A1~am or the Assam State Electricity Board, a.1th• a:asc- may be. -.. ' ...