Amendment status not verified — confirm the current text below against the official source.
(1) The provisions of Chapters IV and V and sections 29, 30, 33, 34, 36, 39, 57, 58 and 59 of the Electricity Regulatory Commissions Act, 1998 shall cease to apply in the State (hereinafter referred to as “the ceased provisions”) and on such cesser, the following consequences shall ensue, namely:- (i) the Commission established under the ceased provisions and functioning immediately before the date of commencement of this Act (hereinafter called “the said Commission”) shall be deemed to be the Commission established under sub- section (1) of section 3, (ii) the Chairperson and members of the said Commission holding office immediately before the said date shall respectively be the Chairperson and the members of the Commission, (iii) the Chairperson and the members shall hold office as such Chairperson and members for the period for which they would have held office under the said Act, subject however to the provisions relating to disqualification, resignation, removal and vacancy provided in this Act, (iv) all properties, moveable and immovable and assets vesting in the said Commission shall stand transferred to and vest in the Commission, (v) all rights, liabilities and obligations of the said Commission (including those arising under any agreement or contract) shall be deemed to be the rights, liabilities and obligations of the Commission, (vi) all sums due to the said Commission shall be recoverable by the Commission, and for the purpose of such recovery, the Commission shall be competent to take such measures which were competent for the said Commission to take subject to all Effect of the Act on 14 of