Section 5 in The West Bengal Electricity Regulatory Commission (Balancing and Settlement Code) Regulations, 2008
5. SLDC-UI Fund-WBSETCL
- SLDC shall open an account preferably with electronic clearing facility with the name and style of "SLDC-UI FUND-WBSETCL" in a nationalized/scheduled commercial bank within 27th November 2007 for the purpose of handling UI charges in pursuance to regulation 5.13 of the Tariff Regulations. Such fund will be managed in the following manner.(i)Such account shall be operated by the DDO with the cheque signing authority for payment upto Rs.5 lacs. For payment above Rs. 5 Lacs such cheque signing authority shall be jointly with the DDO and the Officer in charge of SLDC.(ii)All deposit for UI charges payable by any licensee shall be through bank draft in favour of the said account or through electronic clearance system where such facility is available. Cost of such draft and services shall be payable by the depositor.(iii)UI charges receivable by the any entity shall be through account payee cheque or through electronic clearance system where such facility is available.(iv)SLDC shall maintain the accounts of the said fund separately and such account shall not be considered as the part of the accounts of the SLDC.(v)Accounts of such fund shall be audited by Chartered Accountant / Cost Accountant in full time practice for every financial year within 30th June of the succeeding year and such audited accounts shall subsequently submitted to the Commission within 31st July of that year for approval.(vi)The entity shall pay the UI charges within 10 days of the billing date in pursuance to regulation 7.2 of the State Grid Code. The DDO will activate the Letter of Credit (LC) if the amount receivable from any entity is not received fully or partly within ten days from date of issuance of the weekly UI statement.
