"75A. (1) A Generating Company shall, before the expiry ol the 31st December of each year, submit to the promoting government, or where there are more than one promoting government to all such promoting governments, a report giving an account of the activities, if any, which are likely to be undertaken by such Generating Company in the ensuing year together with a statement of the estimated capital and revenue receipts and expenditure for that year in such form as may be specified by the promoting government or, as the case may be( the promoting governments.
(2) A Generating Company shall, as soon as may be after the end of each year, prepare a report giving an account of its activities during the previous year and shall, within six months from the date of closure of the year, forward to the promoting government, or where there are more than one promoting government, to all such promoting governments, the report together with a statement of accounts, in such form and containing such particulars as may be specified by the promoting government or the promoting governments, as the case may be, a copy of the balance sheet and profit and loss account and the auditor's report, in relation to the accounts of the year aforesaid.
(3) For the purpose of preparing the statement of accounts referred to in sub-section (2), the depreciation to be provided every year shall be calculated in accordance with the same method as laid down by or under this Act for calculating depreciation in relation to the Board.
(4) The provisions of sub-sections (2) and (2) shall be in addition to and not in derogation of the provisions contained in the Companies Act, 1956, in relation to reports, statement of accounts and other documents required to be prepared or kept or submitted by a company within the meaning of section 3 of that Act.",
33. In the Fifth Schedule to the principal Act,—
(0) in the heading, for the words "BY BOARD", the words "BY BOARD OR GENERATING COMPANY" shall be substituted;
(b) In paragraph I and paragraph II, for the words "the Board", wherever they occur, the words "the Board or the Generating Company" shall be substituted.
34 In the Sixth Schedule id the principal Act, in paragraph II, after BuB-paragraph (3), the following sub-paragraph shall be inserted^ hamely: — "(4) On the purchase of the undertaking after the expiry.
1 of 1958.
Insertion o i new section
75A.
Annual reports and accounts of Generating Company, Amendment of Fifth Soheffule.
Aihendment oi Sixth 1418 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SEC. 1] or on the revocation, of its licence or otherwise, all amounts of rebate lying undistributed to the consumers on the date of such purchase shall be handed over to the purchaser who, in turn, shall enter the same in his books of account, under the heading Consumers' Rebate Reserve and any amount lying undistributed in that Reserve shall be carried forward for distribution to the consumer concerned:
Provided that the share of money in the Consumers' Rebate Reserve payable to the consumers who are not traceable or who have ceased to be consumers in relation to that undertaking, may be utilised in the development works of the purchaser.".
FAKHRUDDIN ALI AHMED, Pres dent.
K. K SUNDARAM, Secy, to the Govt. 0/ India CORRIGENDUM In the Advocates (Amendment) Act, 1976 (107 of 1976) as published in the Gazette of India, Extraordinary, Part II, Section 1, dated the 13th September, 1976: — At page 1367 in the title of the Act jor "1961" read "1976".
PRINTED BY THE GENERAL MANAGER, GOVERNMENT OP INDIA PWhS, M1N1O ROAD, NEW DELHI AND PUBLISHED BV THE CONTROLLER OF PUBI 1CATIONS, DtLHI, 1976