Amendment status not verified — confirm the current text below against the official source.
(1) A Generating Company may enter into a contract for the sale of electricity generated by it-- (a) with the Board constituted for the State or any of the States in which a generating station owned or operated by the company is located; (b) with the Board constituted for any other State in which it is carrying on its activities in pursuance of sub-section (3) of section 15A; and (c) with any other person with consent of the competent government or governments. [(2) The tariff for the sale of electricity by a Generating Company to the Board shall be determined in accordance with the norms regarding operation and the Plant Load Factor as may be laid down by the Authority and in accordance with the rates of depreciation and reasonable return and such other factors as may be determined, from time to time, by the Central Government, by notification in the Official Gazette: Provided that the terms, conditions and tariff for such sale shall, in respect of a Generating Company, wholly or partly owned by the Central Government, be such as may be determined by the Central Government and in respect of a Generating Company wholly or partly owned by one or more State Governments be such as may be determined, from time to time, by the government or governments concerned.]] Ins. by Act 50 of 1991, sec. 11 (w.e.f. 15/10/1991). Sub-section (2) omitted by Act 14 of 1998, sec. 51. Provided that different dates may be appointed for different States. In respect of the States of Orissa and Haryana, 15th May, 1999, vide S.O. 1194 dated 22nd March, 1999. In respect of the State of Assam, w.e.f. 15th September, 2001, vide S.O. 966(E), dated 18th September, 2001. In respect of the State of Punjab, w.e.f. 1st May, 2002, vide S.O. 565(E), dated 10th May, 2002. In respect of the State of Tamil Nadu, w.e.f. 2nd August, 2002, vide S.O. 825(E), dated 30th July, 2002. In respect of generating companies referred in clause (a) or clause (b) of section 13 of the Act 14 of 1992, 24th July, 1998 vide S.O. 825(E), dated 11th September, 2002.