Section 7 in Andhra Pradesh Provisional Transmission and Bulk Supply Licence, 1999
7. Disposal of Assets.
(1)The licensee shall not dispose of or relinquish operational control over any asset unless permitted by the State Government prior to the constitution of the Commission, and thereafter by the Commission.(2)In this Condition "asset" means any asset with a replacement cost in excess of Rs. 30 lakhs or such other figure as the State Government prior to the constitution of the Commission, and thereafter by the Commission, may specify for the time being and from time to time forming part or intended to form part of the Transmission and Bulk Supply Business or for any use in conjunction therewith and any legal or beneficial right, title or interest in land upon which any of the foregoing is situated: and "disposal" includes any sale, gift, transfer, lease. Licence, the grant of any right of possession or ownership whether immediate or in the future, transfer of ownership, loan, security, mortgage, charge or grant of any other encumbrance or the permitting of any encumbrance to subsist or any other disposition to a third party and "dispose" shall be construed accordingly.
