Section 3 in The Electricity (Supply) (Punjab Amendment) Act, 1959
3. Amendment of Section 60 of Central Act No. XIV of 1948.
- After sub- section (2) of section 60 of the Principal Act, the following sub-section shall be added, namely :-("2-A) Notwithstanding anything contained in this Act, the State Government may in declaring the expenditure on capital account under sub-section (2), include therein all expenditure incurred by it on capital account in connection with the purposes of this Act on the electrical portion of the Bhakra-Nangal Project, and on such inclusion, such expenditure shall be deemed to be a loan advanced to the Board under section 64 on the date of the said declaration, and all the assets acquired by such expenditure shall thereupon vest in the Board subject to the provisions of any agreement as may have been or may be executed in this behalf by the State Government with the Government of Rajasthan.
