Amendment status not verified — confirm the current text below against the official source.
(1) The government may, as soon as may be after the commencement of this Act, cause one or more companies to be incorporated and set up under the provisions of the Companies Act, 1956 for the purpose of generation, transmissionor distribution of electricity, including companies engaged in more than one of the said activities, in the National Capital Territory of Delhi and may transfer the existing generating stations or the transmission system or distribution system, or any part of the transmission system or distribution system, to such company or companies. (2) The Government may designate any company set up under sub-section (1) to be the principal company to undertake all planning and coordination in regard to generation or transmission or both; and such company shall undertake works connected with generation or transmission and determine the requirements of the territory in consultation with the other companies engaged in generation or transmission for the National Capital Territory of Delhi, the Commission, the Regional Electricity Board and the Central Electricity Authority and any other authority under any law in force for the time being, or any other Government concerned. (3) The companies incorporated and set up under sub-section (1) shall undertake the functions specified in this section and such other functions as may be assigned to them by the Government. (4) Subject to the provisions of this Act and of the duties and functions assigned to the companies incorporated and set up under sub-section (1), other companies engaged in generation, transmission or distribution of electricity, or more than one of the said activities, may be incorporated and set up in the National Capital Territory of Delhi. (5) The Government may, in consultation with the Commission, determine the lines that shall be treated as transmission or distribution lines for the purpose of division of responsibilities between the companies incorporated and set up under this section, having regard to the voltage levels of such lines and any other factor, which it may consider relevant. (6) The Government may convert the companies set up under this Act to joint venture companies through a process of disinvestment, in accordance with the transfer scheme prepared under the provisions of this Act. (7) Upon the transfer of all functions of the Board to corporate entities in terms of this Part, the Government may appoint an administrator for the purpose of finalisation of the accounts of the Board for all the pending years till the date of such transfer and thereafter for winding up the Board in such manner as the Government may direct.