Section 12(2) in The Gujarat Electricity Supply Undertakings (Acquisition) Act, 1969
(2)Where the agreement was in force on the appointed day and continued to be in force until the vesting date, without having been renewed or replaced by a fresh agreement for a further period, the managing agent, managing director, manager, or, as the case may be, secretaries and treasurers shall, for such period of the agreement as may remain unexpired on the vesting date or for a period of two years, whichever is less, be entitled to compensation calculated at the following rate per annum, namely:-The average annual ordinary remuneration (including purchasing commission and office allowance) to which a managing agent of the licensee would have been entitled under paragraph XIII of the Sixth Schedule to the Electricity Supply Act during a period of two complete accounts years immediately preceding the vesting date.
