REMOVAL OR SUSPENSION OF MEMBERS

“Standard rate” in respect of any year of account means- (a) In relation to that part of the capital base for that year of account which is equivalent to the capital base as on the 31st day of March, 1955, seven per centum per annum; (b) In relation to the remaining capital base for that year, the Reserve Bank rate ruling at the beginning of that year plus- (i) Two per centum for investments made up to the date of the commencement of The Electricity Laws (Amendment) Act, 1991; and (ii) Five per centum for investments made thereafter: Provided that the Central Government may, by notification in the Official Gazette, and with effect from such date as may be specified therein, increase or decrease the standard rate specified in Cl. (b), if, after consultation with the Authority, that Government considers it necessary so to do to ensure that any rise or fall in the Reserve Bank rate does not affect the reasonable return in any subsequent year of account in relation to that part of the capital base which is equivalent to the capital base as computed on the last date of the previous year of account;