Amendment status not verified — confirm the current text below against the official source.
Change in Ownership.- (1) In the event that the Lowest Tenderer is a consortium, the members of such consortium shall collectively hold such proportion of the issued and paid up share capital of the Concessionaire for the term of the Concession and at stages as may be specified in the Concession Agreement: Provided that such proportion shall not be less than 51% (fifty one percent). (2) In the event of a change of a member of a consortium or an Associate whose technical capacity or financial capacity or both was taken into consideration for the purposes of pre-qualifying the Tenderer, prior to the signing of the Concession Agreement, the tenderer shall inform the authority forthwith along with all relevant particulars about the same and the Procuring Entity may, at its sole discretion, disqualify the tenderer or terminate the Letter of Award (LOA), as the case may be, and also forfeit the Earnest Money Deposits (EMD) or the performance security. TAMIL NADU TRANSPARENCY IN TENDERS (PUBLIC PRIVATE PARTNERSHIP PROCUREMENT) RULES, 2012. 93 (3) In the event of a change as described in sub-rule (2) occurs after signing of the Concession Agreement but prior to Financial Closure of the Public Private Partnership (PPP) Project, it would, notwithstanding anything to the contrary contained in the Concession Agreement, be deemed to be a breach thereof, and the Concession Agreement shall be liable to be terminated without the Procuring Entity being liable in any manner whatsoever to the Concessionaire. -oOo- TAMIL NADU TRANSPARENCY IN TENDERS (PUBLIC PRIVATE PARTNERSHIP PROCUREMENT) RULES, 2012. 94 SCHEDULE-I. [see rule 42(3)(c)] PROVISIONS OF THE DRAFT CONCESSION AGREEMENT. The provisions of the draft Concession Agreement shall inter-alia necessarily cover: (i) Recitals- identifying the parties to the contract, offer and acceptance; (ii) Definitions- defining the key terms of the contract to ensure uniformity of usage and interpretation throughout the document; (iii) Scope of the Public Private Partnership (PPP) Project; (iv) Grant of concession, whereby the Procuring Entity grants the concession to the Concessionaire subject to the terms and conditions of the Concession Agreement; (v) Conditions precedent; (vi) Obligations of the Concessionaire; (vii) Obligations of the Procuring Entity; (viii) Representations and warranties of both the parties; (ix) Form and value of Performance Security to be submitted by the Concessionaire; (x) Matters related to the site; (xi) The construction of the facility including Minimum Technical Requirements thereof, date for completion of construction etc.; (xii) Performance monitoring during construction including key performance indicators, monitoring responsibilities and related provisions; (xiii) Completion of construction including provisions for testing, approval and certification; TAMIL NADU TRANSPARENCY IN TENDERS (PUBLIC PRIVATE PARTNERSHIP PROCUREMENT) RULES, 2012. 95 (xiv) Change in scope during the contract period; (xv) Operation and maintenance of the facility and provision of service including minimum technical requirements; (xvi) Performance monitoring during operations and maintenance including key performance indicators, monitoring and reporting responsibilities and related provisions; (xvii) Appointment, role and functions, remuneration and reporting requirements of Independent Engineer and Independent Auditor; (xviii) Financial close; (xix) State support, grant expected or revenue share or premium to be paid; (xx) Payments by users, authority for tariff fixation, procedure of revision of tariff and related provisions; (xxi) Collection of user charges, including allocation of the authority to collect and retain user charges; (xxii) Financial aspects of the contract including escrow account, other payments between the parties to the contract; (xxiii) Maintenance of books of accounts and audit requirements; (xxiv) Insurance; (xxv) Force Majeure – definition, procedure for recognition under the contract, consequences and compensation on termination due to occurrence of Force Majeure events; (xxvi) Events of default and consequences of default; (xxvii) Termination of the contract and consequences of termination; (xxviii) Assignments and charges; TAMIL NADU TRANSPARENCY IN TENDERS (PUBLIC PRIVATE PARTNERSHIP PROCUREMENT) RULES, 2012. 96 (xxix) Change in law including consequences for change in law; (xxx) Liability and indemnity; and (xxxi) Dispute resolution. -oOo- TAMIL NADU TRANSPARENCY IN TENDERS (PUBLIC PRIVATE PARTNERSHIP PROCUREMENT) RULES, 2012. 97 SCHEDULE-II. [see rule 45(5)] SCOPE OF WORK FOR INDEPENDENT AUDITOR. (1) The role of the Independent Auditor would encompass: (a) Advising Procuring Entity in the calculation of all financial parameters of the Project including the Total Cost of the Project, Returns and Recovery accounting and shall provide, at the end of each financial year, a certificate confirming the accuracy of all calculations made during the relevant financial year. (b) Verification of the records and invoices provided by the Concessionaire and shall advise the Procuring Entity of the results of his quarterly audit within one month after the end of the relevant quarter. (2) The scope of work as envisaged will be carried out during two different stages of the project. - Construction Stage. - Operation Stage. (3) The Independent Auditor would carry out the work specified as scheduled above and would employ qualified and experienced person of the type and nature as desirable to carry out the assignment. (4) The appointment of the Independent Auditor would be for a period of three years initially and could be extendable as mutually agreed between the parties concerned. (5) The Independent Auditor would employ a team of qualified Chartered Accountants / Cost Accountants / other professions as may be relevant to carry out the assignment besides other support personnel as may be desirable. (6) The Concessionaire will be required to provide all the necessary information as may be required by the Independent Auditor and will provide access to all the records as may be necessary to enable the Independent Auditor to carry out their responsibilities. -oOo- TAMIL NADU TRANSPARENCY IN TENDERS (PUBLIC PRIVATE PARTNERSHIP PROCUREMENT) RULES, 2012. 98 SCHEDULE-III. [see rule 46(4)] SCOPE OF WORK FOR INDEPENDENT ENGINEER.