Where an undertaking has been voluntarily handed over by a company to the Government before the commencement of this Act, and the Government have taken possession of such undertaking, the provisions of this Act shall apply to such undertaking as if such undertaking vests in the Government under this Act. All the provisions of this Act shall accordingly apply to such undertaking:
Provided that where under this Act any period is to be computed from the vesting date, such period shall, in relation to any undertaking to which this section applies, be computed from the date of the publication of this Act in the official Gazette.
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SCHEDULE (See Section 5) For purposes of payment of amount under section 5 the depreciation shall be calculated at annual rates arrived at by dividing ninety percent of the book value of each asset by the number of years of life of the asset as specified in the Table below. For the account year in which an asset was brought into beneficial use, the depreciation shall be calculated at half the annual rate and for the period after the last completed account year till the vesting date, the depreciation shall be calculated pro rata. Depreciation shall not be calculated for any period beyond the life of the asset as prescribed herein.
TABLE Description of assets Number of years or period 1 2 A. Land owned under full title .. .. Infinite B. Land held under lease,- .. .. The period of lease or the
(a) for investment in the land period remaining unexpired on the assignment of the lease.
(b) for cost of clearing site .. .. The period of the lease remaining unexpired at the date of clearing the site.
C. Assets purchased new,-
(a) Building and Civil engineering works of a permanent character, not mentioned above.
(i) Offices and show rooms .. .. Fifty
(ii) Temporary erections such as wooden structures .. .. Five
(iii) Others .. .. Fifty
(b) Transformer, transformer kiosk, sub-station equipment and other fixed apparatus (including plant foundations),-
(i) Transformers (including foundations) having a rating of 100 kilovolt amperes and over .. .. Thirty-five
(ii) Others .. .. Twenty-five
(c) Switchgear, including cable connections .. .. Twenty
(d) Batteries .. .. Ten
(e) (1) Underground cables, including joint boxes and disconnecting boxes .. Forty
(2) Cable duct system .. .. Sixty 17
(f) Overhead lines including supports,-
(i) lines or steel or reinforced concrete supports operating at nominal voltages higher than 13.2 kilo volts .. .. Thirty
(ii) other lines on steel or reinforced concrete supports .. .. Twenty-five
(iii) Lines on wood supports .. .. Twenty
(g) Meters .. .. Fifteen
(h) Self-propelled vehicles .. .. Seven
(i) Station machine tools .. .. Twenty
(j) (i) Office furniture and fittings .. Twenty
(ii) Office equipment .. .. Ten
(k) Apparatus let on hire,-
(i) Other than motors .. .. Seven
(ii) Motors .. .. Twenty D. Assets purchased second hand and Such reasonable period as the assets not otherwise provided for in Government determine in each this table. case having regard to the nature, age and condition of the asset at the time of its acquisition by the Government.
* * * * NOTIFICATION Bangalore dated 18-12-1974 [No. PWD 17 EIG 73] S.O. 2591.- In exercise of the powers conferred by sub-section (3) of section 1 of the Karnataka Electricity Supply Undertakings (Acquisition) Act, 1974 (Karnataka Act 36 of 1974), the Government of Karnataka hereby appoints the 18th day of December 1974 as the date on which the said Act shall come into force.
By Order and in the name of the Governor of Karnataka S. VARADAN, Commissioner for Public Works and Secretary to Government, Public Works and Electricity Department.
* * * * KARNATAKA ACT NO. 36 OF 1974