(3)Any generating company to whom the certificate of registration has been granted for the generating station or captive generating plant or stand by generating plant, sells or disposes of or discards the same, shall make an application to the Collector within 60 days, along with the original certificate of registration and necessary documents including a certificate from an engineer, specifying the date of sale or disposal or discarding of the plant. The Collector may deregister the generating company if he is so satisfied.
