Section 2 in The Indian Electricity (Bihar Amendment) Act, 1975
2. Amendment of Section 6 of Act IX of 1910.
- In Section 6 of the Indian Electricity Act, 1910 as substituted by the Indian Electricity (Bihar Amendment) Act, 1974 (Bihar Act XV of 1975)-(i)to sub-section (4) the following proviso shall be added, namely:-"Provided that- (a) the State Electricity Board or the State Government, as the case may be, shall pay or tender payment of the amount referred to in sub-section (5) of this Section as soon as the amount has been determined, together with interest on such amount from the date of purchase to the date of payment or tender of payment as aforesaid at the rate of one per centum above the average of the Reserve Bank rates between the date of delivery of the Undertaking and the dates of payment;(b)the receipt of the licensee shall, notwithstanding anything in any other law be a full and sufficient discharge to the State Electricity Board or the State Government as the case may be, for the payment of dues in respect of the purchase."(ii)after sub-section (5), the following sub-section shall be added, namely:-"(6) Where a notice exercising the option of purchasing the undertaking has been served upon the licensee before the commencement of the Indian Electricity (Bihar Amendment) Act, 1974 (Bihar Act XV of 1975) and the undertaking has been purchased thereafter the amount payable to the licensee on account of the purchase of the undertaking shall be determined in accordance with the provisions of Section 7-A of the Indian Electricity Act, 1910 as substituted by the Indian Electricity (Bihar Amendment) Act, 1974 (Bihar Act XV of 1975) as if the last mentioned Act, was then in force and it shall be deemed to have been always in force."
