Section 91(2) in The Jammu and Kashmir Electricity Act, 2010
(2)Any property, interest in property, rights and liabilities vested in the Government earlier or under sub-section (1) above shall be re-vested by the Government in a government company or in a company or companies, in accordance with the transfer scheme so published along with such other property, interest in property, rights and liabilities of the Government as may be stipulated in such scheme, on such terms and conditions as may be agreed between the Government and such company or companies being State transmission utility or generating company or [transmission licensee or distribution licensee] [Substituted 'transmission licensee' Act No. 11 of 2018, dated 13.3.2018.], as the case may be :Provided that the transfer value of any assets transferred hereunder shall be determined, as far as may be, based on revenue potential of such assets at such terms and conditions as may be agreed between the Government and the State Transmission Utility or generating company or transmission licensee or distribution licensee, as the case may be.
