Section 91(5) in The Jammu and Kashmir Electricity Act, 2010
(5)A transfer scheme under this section may, -(a)provide for the formation of subsidiaries, joint venture companies or other schemes of division, amalgamation, merger, reconstruction or arrangements which shall promote the profitability and viability of the resulting entity, ensure economic efficiency, encourage competition and protect consumer interests;(b)define the property, interest in property, rights and liabilities to be allocated -(i)by specifying or describing the property, rights and liabilities in question ; or(ii)by referring to all the property, interest in property, rights and liabilities comprised in a described part of the transferor's undertaking ; or(iii)partly in one way and partly in the other;(c)provide that any rights and liabilities stipulated or described in the scheme shall be enforceable by or against the transferor or the transferee;(d)impose on the transferor an obligation to enter into such written agreements with or execute such other instruments in favour of any other subsequent transferee as may be stipulated in the scheme;(e)mention the functions and duties of the transferee;(f)make such supplemental, incidental and consequential provisions as the transferor considers appropriate including provision stipulating the order as taking effect ; and(g)provide that the transfer shall be provisional for a stipulated period.
