Section 15 in Central Electricity Regulatory Commission (Power Market) Regulations, 2010
15.
The eligibility criteria for making application for registration of Power Exchange shall be as follows:(i)(a)Any company limited by shares incorporated as a public company within the meaning of the Companies Act, 1956;(b)A consortium of companies having an agreement amongst themselves to set up a power exchange through a special purpose vehicle ("SPV") incorporated as a public company limited by shares within the meaning of the Companies Act, 1956;Provided that the process for registration may be commenced in case a consortium applies for registration by submitting a copy of such an agreement entered into amongst the consortium members, but registration shall be granted only when consortium has incorporated the SPV as aforesaid.(ii)The main objects of the applicant company shall be to primarily set up and operate Power Exchange though the other and incidental objects may be to undertake other businesses related to energy sector and its ancillaries with the prior approval of the Commission.Provided that such a company shall maintain separate accounts for separate businesses.
