Section 36 in Central Electricity Regulatory Commission (Power Market) Regulations, 2010
36. Exit Scheme.
- The Power Exchange shall have their Exit scheme approved by the Commission during the registration process detailing the manner in which the running contracts on the Power Exchange shall be closed or the succession plan for all transacted contracts in case of closure of Power Exchange, cancellation or withdrawal of registration under these regulations. Thereafter the Exit scheme shall be provided in the bye-laws of the Power Exchange.Provided that the Power Exchanges operating on the date of notification of these regulations, shall submit to the Commission the exit scheme for approval within a period of one year. Consequently the bye laws shall be modified.
