Section 18 in Himachal Pradesh Infrastructure Develoment Act, 2001
18. Coverage of risks in concession agreement or arrangement.
(1)The Board shall ensure that any concession agreement or arrangement formulated by the Board under section 14 is in consonance with the parameters given in section 16 and contains all necessary covenants to take care of the risks associated with the concerned project.(2)The concession agreement or arrangement shall strive for the optimum contractual structure with regard to the need to balance the risks of stakeholders, maximize efficiency and minimize costs as may be prescribed by regulations.
