Compliance by Board

(a) The licensee shall provide each year for depreciation such sum calculated in accordance with such principles as the Central Government may, after consultation with the Authority, by notification in the Official Gazette, lay down from time to time. (b) Where in any particular year depreciation cannot be adjusted against revenue the same may be carried over to subsequent years. (c) The provisions of this paragraph shall apply to the charging of depreciation for the year in which The Electricity (Supply) Amendment Act, 1978 (23 of 1978), comes into force.