Security for execution of works of licensee not being local authority

Security for execution of works of licensee not being local authority.--Where the licensee is not a local authority, the following provisions as to giving security shall apply, namely:- (a) The licensee shall, within the period fixed in that behalf by his licence, or any longer period which the Government may substitute therefor by order under section 4, sub-section (3), clause (b), of the Jammu and Kashmir Electricity Act, 1997 before exercising any of the powers by the licence conferred on him in relation to the execution of works, show, to the satisfaction of the Government, that he is in a position fully and efficiently to discharge the duties and obligations imposed upon him by the licence, throughout the area of supply. (b) The licensee shall also, within the period fixed in that behalf by his licence, or any longer period which the Government may substitute therefor by order under section 4, sub-section (3), clause (b), of the Jammu and Kashmir Electricity Act, and before exercising any of the powers conferred on him in relation to the execution of works, deposit or secure to the satisfaction of the Government such sum (if any) as may be fixed by the licence or, if not so fixed, by the Government. (c) The said sum deposited or secured by the licensee under the provisions of this clause shall be repaid or released to him on the completion of the works or at such earlier date or dates and by such instalments as may be approved by the Government.