(1) The Government may provide that the transfers in terms of sections 15 and 16 shall be provisional for a period of twelve months from the effective date unless confirmed earlier and reserve the right to alter, vary, modify, add or otherwise change the terms in such manner as the Government may consider appropriate.
(2) At any time before the end of the period of twelve months commencing on the effective date, a company or companies established as the case may be, under section 14 or generating company or distribution company or companies, as the case may be, to whom property, interest in property, rights, liabilities and personnel have been transferred, may, with the consent of the Government draw up a transfer scheme to vest some or all the property, rights, liabilities and personnel in another licensee, or generating company subject to the consent of such other licensee or generating company to such vesting and any such transfer scheme shall take effect as if it were a transfer scheme under section 15.
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PART – VI LICENSING OF TRANSMISSION AND SUPPLY