(1) Except as provided in section 55, the provisions of this Act, notwithstanding that the same are inconsistent with or contrary to the provisions of the Indian Electricity Act, 1910, or the Electricity (Supply) Act, 1948 shall prevail in the manner and to the extent provided in sub-section (3).
(2) Subject to sub-section (1), all matters in the Indian Electricity Act, 1910 and the Electricity (Supply) Act, 1948, with which the Board has been concerned or dealing with, shall be subject to the following :
(a) the Board shall cease to undertake the functions which are to be discharged by the Commission in terms of the provisions of this Act, or any rules or regulations made under the Act ;
     (b) upon the issue of notification in terms of section 23 of this Act, the Board shall cease to undertake such of the functions of the Board as are assigned under the notification to the companies or body corporate or persons or authority.
(3) Subject to sub-section (1) and (2), upon the establishment of the Commission, the provisions of the Indian Electricity Act, 1910, and the Electricity Supply Act 1948 shall, in so far as this State is concerned be read subject to the modifications and reservations provided in this Act including the following :
     (i) All references to the State Electricity Board in the Indian Electricity Act, 1910 in so far as this State is concerned shall be read as reference to the Commission or companies or body corporate or person or authority as provided in this Act or any rules or regulations framed under this Act and wherever it relates to general policy matters, the State Government;
     (ii) The provisions of sections 3 to 11, 28, 36 (2), 49-A, 50, 51 and 52 of the Indian Electricity Act, 1910 to the extent this Act has made specified provision shall not apply in the State;
     (iii) The provisions of all other sections of the Indian Electricity Act, 1910 shall apply except that :
     (a) the terms licence or licensee shall have the meaning as defined in this Act and the licences issued under the said Act or 1948 shall be construed as having been issued under this Act ;
     (b) the reference to the sections of the Indian Electricity Act, 1910 and the Electricity (Supply) Act, 1948 in the provisions of the Electricity (Supply) Act, 1948 shall be taken as references to the corresponding provisions of this Act to the extent modified by this Act;
     (c) the reference to arbitration in this Act except where it is by the Central Electricity Authority shall be taken as reference to the proceedings under section 34 of this Act and the arbitration procedure prescribed under the Indian Electricity Act, 1910 shall not apply ;
     (iv) The Schedule to the Indian Electricity Act, 1910 shall be applicable only with reference to the provisions of this Act wherein the applications of the Schedule are specified and not otherwise;
     (v) All reference to the State Electricity Board in the Electricity (Supply) Act, 1948, in so far as this State is concerned shall be read as references to the Commission or companies or body corporate or person or authority as provided in this Act or any rules or regulations framed under this Act and wherever it relates to general policy matter, the State Government;
     (vi) In respect of matters provided in sections 5 to 15, 16, 17, 18, 19, 20, 23 to 26, 27, 37, 40 to 43, 44, 45 to 54, 56 to 69, 72 75 and 76 to 83 of the Electricity (Supply) Act, 1948, to the extent this Act has made specific provisions the provisions of the Electricity (Supply) Act, 1948, shall not apply in the State;
     (vii) The provisions of all other sections of the Electricity (Supply) Act, 1948, shall apply except that ,
     (a) the terms licence or licensee shall have the meaning as defined under this Act and the licences issued under the said Act or 1948 shall be construed as having been issued under this Act ;
     (b) the reference to the sections of the Indian Electricity Act, 1910 and Electricity (Supply) Act, 1948, in the provisions of the Electricity (Supply) Act, 1948, shall be taken as reference to the corresponding provisions of this Act to the extent modified by this Act ;
     (c) the reference to arbitration in these provisions except where it is by the Central Electricity Authority shall be taken as reference to the proceedings under section 34 of this Act and the arbitration procedure prescribed under the Electricity (Supply) Act, 1948, shall not apply;
     (viii) The provisions of section 72 and 73 of the Electricity (Supply) Act, 1948, shall be restricted to generating companies and references to the State Electricity Board in these sections shall stand omitted;
     (ix) The Schedules to the Electricity (Supply) Act, 1948, shall be applicable only with reference to the provisions of this Act wherein the application of the Schedules are specified and not otherwise.