Purchase of undertaking

expiration of such

pcriad, not excecc'ing fifty years, and of evtry such subsequent period. not exceeding

twenty yczors, as shall be specified in this behalf in the 'licencs, have the option of purchasing the undartaking and if the

Govc'rnment elects to purchase, the licensee shall sell the under-

taking to the Government on payment of the value of all lands, ?~dildifigi. works, mat-1-ials and plant of the licence suitablv to, and 'used by him for the purposes of the undertaking, other than a generat- ing s"itltii.1 declarcd by thl: licencb not to form part of the under- taking

of purchase, due regard being had to the nature and condition for the time being of such Iands, buildings, works, materials and plant, and to the state

ability of the same for the purposes of the undertaking :

as may be specified in the licence on account of compulsory purchase.

1. (2) Where a purchase has bsen effected under sub-section (I),-
   • (a) the undertaking shall vest in the purchasers free from any aebts, mortgages or similar obligations of the licensee or attaching to the undertaking ;

Provided that any such debts, mortgages or similar obligations

shall attach to the purchase money in substitution for the under- taking ; and

1. (b) the licence shall, after purchase, cease to have any furiher operation.

1. (3) Not less than two years' notice in writing of any election to purchase under this section shall be served upon the licensee by the Government.
2. (4) Notwithstanding anything hereinbefore contained, the Govern-

ment may waive its option to purchase and enter into

an agreement with the licensee for the working

1. (I) , upon such terms and conditions as may be stated in the agreement.