(1) No licensee shall, without prior approval of the Appropriate

Commission, -

1. (a) undertake any transaction to acquire by purchase or takeover or

otherwise, the utility of any other licensee; or

1. (b) merge his utility with the utility of any other licensee: Provided that nothing contained in this sub-section shall apply if the

1. (2) Every licensee shall, before obtaining the approval under sub- section (1), give not less than one month’s notice to every other licensee who

transmits or distributes, electricity in the area of such licensee who applies for such

approval.

1. (3) No licensee shall at any time assign his licence or transfer his

utility, or any part thereof, by sale, lease , exchange or otherwise without the prior

approval of the Appropriate Commission.

14

Amendment of licence

1. (4) Any agreement relating to any transaction specified in sub- section (1) or sub-section (3), unless made with, the prior approval of the Appropriate Commission, shall be void.