Special Appropriations

Infrastructure1948215 sections

Statutory text

(c) Special appropriations sufficient to cover- (i) Previous losses (that is to say excess of expenditure over income) which have arisen from the business of electricity supply to the extent in any year permitted by the State Government; (ii) All taxes on income and profits; (iii) Instalments of written-down amounts in respect of intangible assets and new capital issue expenses to the extent in any year actually appropriated for the purpose in the books of the undertaking: provided that the amounts so appropriated shall not exceed the amount found by dividing the written-down cost of such assets by the number of complete years remaining before the next option of purchase under the licence arises; (iv) Contributions to the Contingency Reserve, computed as herein before set out; (v) Contributions towards arrears of depreciation; (v-a) Contributions to the Development Reserve referred to in para. V-A; (v-b) Debt redemption obligation of the private licensees which may be done on a year to year basis, taking into account the requirements of debt redemption and resource generation through depreciation, retained surplus;; (vi) Other special appropriations permitted by the State Government.

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