Section 6: Constitution and functions of the financing vehicle and Government support.-

(1) As soon as may be after commencement of this Act, the State Government shall establish the Rajasthan Rajya Vidyut Vitaran Vitt Nigam Ltd. under the provisions of the Companies Act, 2013 (Central Act No. 18 of 2013) to act as a financing vehicle for the purposes of this Act and to facilitate raising of capital and/or lower cost borrowings for the State Distribution Licensees. (2) The State Government shall provide following financial support to the financing vehicle for every financial year for a period upto financial year 2021-22 starting from financial year 2015-16 , namely:- (a) an amount equal to electricity duty collected by the State; (b) an amount equal to compounding charges collected under the Electricity Act; and (c) such other amounts as may be granted by the State Government from time to time. (3) The financing vehicle may raise funds from the market for the purposes of this Act with the approval of the State Government. (4) The State Government may guarantee the repayment of funds raised under sub-section (3). (5) Subject to the general or specific directions of the State Government, the financing vehicle shall provide financial support to the state distribution licensees for the purposes of this Act.