Section 14 in Central Electricity Regulatory Commission (Power Market) Regulations, 2010
14.
No Power Exchange shall operate without obtaining registration under these regulations.Provided that the Power Exchanges which have been granted approval / in principle approval by the Commission on or prior to the date of notification of these regulations shall be deemed to be registered under these regulations subject to payment of annual registration charge.Provided further that the Power Exchanges in operation shall realign their Bye-laws, Rules and Business Rules to make the same in conformance with these regulations and shall submit the same for approval of the Commission within three months from the date of notification of these regulations.Provided also that the existing approved Bye-laws, Rules and the Business Rules shall remain in force till the Commission gives approval to revised Bye-laws, Rules and Business Rules.Provided further that anything done or any action taken or purported to have been done or taken under the existing approved Bye-laws, Rules and the Business Rules shall, in so far as it is not inconsistent with the provisions of these Regulations, be deemed to have been done or taken under the corresponding provisions of these Regulations.
