(1) In these regulations, unless the context otherwise requires,-
(a) “Act” means the Electricity Act (36 of 2003);
(b) “Accounting Statement/Annual Accounts” for each financial year, includes,-
(i) the balance sheet, prepared at the end of the financial years; in accordance with the general instructions contained in Schedule III of the Companies Act, 2013;
(ii) the cash flow statement, prepared in accordance with the Accounting Standards prescribed under section 133 of the Companies Act, 2013 on the recommendations of the Institute of Chartered Accountants of India;
(iii) the cost records prepared and kept under Section 128 of the Companies Act, 2013(Act No. 18 of 2013);
(iv) the profit and loss account, in accordance with the general instructions contained in the Schedule III to the Companies Act, 2013 (Act No. 18 of 2013);
(v) a statement of changes in equity, if applicable;
1 Published in R H.P. dated 1 st January, 2015 at p. 5278-5324.
2 Compendium of HPERC Regulations, March 2021
(vi) the report of the statutory auditors;
(vii) any explanatory note, annexed to, or forming part of, any document referred to in clause (i) or clause (v), and
(viii) such other supporting statements, together with notes thereto, and information as the Commission may direct from time to time;
(c) “Auditor” means and includes an internal auditor or individual or a firm eligible for appointment and is not disqualified for appointment as auditor under the Companies Act, 2013 (Act No. 18 of 2013).
(d) “Commission” means the Himachal Pradesh Electricity Regulatory Commission;
(e) “Financial Accounting Year” means the period coinciding with the financial year for the purpose of determination of tariff, i.e., the period commencing on Ist day of April of a calendar year and ending on 31 st March of the subsequent calendar year.
(f) “Licensed Business” means the functions and activities, which the licensee is required to undertake in terms of the licence granted or being a deemed licensee under the Act;
(g) “Regulatory Accounts” means the regulatory accounts, duly audited by the auditor of the Utility containing all the financial and non-financial information including the filled up formats appended to these regulations and cover the activities which includes without limitation the Statutory Accounts prepared under Companies Act, 2013 or any other law applicable to the Utility;
(h) “Regulated Business” means the business in relation to which functions and activities are regulated by the Commission;
(1) “Other Business” means any business of the licensee or of the deemed licensee other than the licenced business.
(j) “Utility” means a person who has been granted a l;icensee or is a deemed licensee under the Act, and includes a generating company.
(2) The words and expressions used herein and not defined in these regulations, but are defined in the Act, rules, or regulations made thereunder, shall have the meanings respectively assigned to them in the Act, and rules or regulations made thereunder..