Act Number: 36

Act Name: The Electricity Act, 2003

Year: 2003

Enactment Date: 2003-05-26

Long Title: An Act to consolidate the laws relating to generation, transmission, distribution, trading and use of electricity and generally for taking measures conducive to development of electricity industry, promoting competition therein, protecting interest of consumers and supply of electricity to all areas, rationalisation of electricity tariff, ensuring transparent policies regarding subsidies, promotion of efficient and environmentally benign policies, constitution of Central Electricity Authority, Regulatory Commissions and establishment of Appellate Tribunal and for matters connected therewith or incidental thereto.

Ministry: Ministry of Power

Department:

Section 99: Establishment of Fund by Central Government.
    (1) There shall be constituted a Fund to be called the Central Electricity Regulatory Commission Fund and there shall be credited thereto--
         (a) any grants and loans made to the Central Commission by the Central Government under section 98;
         (b) all fees received by the Central Commission under this Act;
         (c) all sums received by the Central Commission from such other sources as may be decided upon by the Central Government.
     (2) The Fund shall be applied for meeting--
         (a) the salary, allowances and other remuneration of Chairperson, Members, Secretary, officers and other employees of the Central Commission;
         (b) the expenses of the Central Commission in discharge of its functions under section 79;
         (c) the expenses on objects and for purposes authorised by this Act.
     (3) The Central Government may, in consultation with the Comptroller and Auditor-General of India, prescribe the manner of applying the Fund for meeting the expenses specified in clause (b) or clause (c) of sub-section (2).
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