Section 15 in The Bihar Electricity Regulatory Commission (Licencing for Intra-State Trading in electricity) Regulations, 2007
15. Acts which a Licensee(s) shall not undertake.
(1)No licensee, except with prior approval of the Commission, shall undertake:(a)any transaction to acquire, through purchase or takeover or otherwise, any utility of any other licensee; or(b)merge his utility with another utility of any other licensee.(2)No licensee shall, without prior approval of the Commission, assign or transfer his utility or Licence or part thereof through sale, lease, exchange or otherwise.(3)Before obtaining approval under sub-regulations (1) and (2) above, a Licensee who applies for such approval to the Commission, shall give a notice of not less than one month to every other Licensee, who distributes electricity in the area of such licensee.(4)Any agreement entered into by the licensee in respect of sub-regulations (1) to (3) above shall become void unless prior approval of the Commission is obtained thereto.(5)Where such permission is required, the licensee shall file an application with the Commission duly furnishing all relevant information. The Commission may, within 30 days of the receipt of such application, accord required permission subject to the terms and conditions as it deems necessary or reject the application for the reasons to be recorded in writing in support of such rejection.
