Options of Licensee

(2) The Board shall bear the whole of the cost of the service apparatus required for making the supply available to the licensee. V. The licensee shall have the option, to be exercised by a date not later than three months prior to the date of closing down, either,- (a) (i)To sell the station at any time after the date of closing down, and (ii)To purchase the whole of the electricity supplied to him by the Board at the Grid Tariff, or (b) (i)To require the Board to purchase the station or the entire undertaking at the date of closing down at a price determined under the Fourth Schedule, and (ii)To purchase the whole of the electricity supplied to him by the Board on the terms hereafter setout in this schedule.