Section 5(3) in The Orissa Electricity Reform (Transfer of Undertakings, Assets, Liabilities, Proceedings and Personnel) Scheme Rules, 1996
(3)Subject to the provisions of the Act, the terms and conditions for the transfer of the undertakings or residuary assets, residuary liabilities and residuary proceedings shall be notified by the State Government and in consideration of the transfer to the Transferee as mentioned in Sub-rules (1) and (2) such terms and conditions may provide for cash consideration to the State Government or in lieu thereof cause to issue in favour of the State Government or any nominee of the State Government such shares securities, debentures stocks or any other instrument as the State Government may consider appropriate.
