Amendment status not verified — confirm the current text below against the official source.
POWER TO BOARD TO MAKE ALTERNATIVE ARRANGEMENTS WITH LICENSEES. -Notwithstanding anything contained in Sees. 34 to 37 and sub-section (2) of Sec. 46 but subject to any regulations made in this behalf, the Board may make such arrangements as may be mutually agreed with any licensee whose area of supply is situated within an area for which a scheme is in force, in regard to the purchase or sale of electricity and the price thereof” or the purchase, operation or control of any generation station or main transmission line: Provided that in making any such arrangement the Board shall not show undue preference to any licensee. STATE AMENDMENT UTTAR PRADESH. -Substitution of Sec. 47-A by a new section. – For Sec. 47-A of the Principal Act, the following section shall be substituted and be deemed always to have been substituted, namely: “37-A. Security. -Notwithstanding anything in this act, and notwithstanding that no arrangements have been mutually agreed under Sec. 47 or that no regulations have been made in that behalf: (a) The Board shall not be bound to comply with any requisition to supply electricity to a licensee unless the licensee within fourteen days after the service on him by the Board of a notice in writing in that behalf, tenders to the Board security in such amount as is equivalent to the average charges for two months supply of electricity during the preceding financial year to the licensee (hereinafter referred to as the average charges), and where an amount in excess of the average charges is demanded by the Board as security, the Board shall determine the same after giving an opportunity of hearing to the licensee; (b) The Board shall be entitled to discontinue such supply if the licensee has not already given security, or if any security given by him has become invalid or insufficient, and such licensee fails to furnish security or to make up the security to a sufficient amount, as the case may be, within seven days after the service upon him of notice from the Board requiring him so to do.”1