The Fifth Schedule
(See sections 41)
Charges for use
2[by Board or Generating Company] of Transmission Lines
and main Transmission Lines
1. The following charges and allowances shall be made in
respect of a year of account for the use by 3[the
Board or the Generating Company] of main transmission lines
or transmission lines (hereafter in this Schedule referred
to as lines), namely :--
(a) the actual cost of maintenance
of the lines, including renewals thereof not chargeable
to capital account;
(b) sums paid in respect of the
lines for insurance and as rents, rates and taxes 4[including
all taxes payable on income and profits] :
(c) the proportion of management and general establishment
charges properly attributable to the lines;
(d) any other expenses on revenue
account properly attributable to the lines;
(e) 5[interest on the depreciated cost of the
lines shown in the books of the undertaking and properly
attributable to the lines (whether defrayed out of capital
or revenue) and interest on which is charged to capital;
Provided
that for the purpose of ascertaining the principal on which
interest is payable within the meaning of this clause; there
shall be left out of account any part of principal interest
on which is charged to capital;
(f) an allowance for depreciation of an amount determined
in respect of the lines in accordance with the provisions
of paragraph VI of the Sixth Schedule.
I1. If the lines are used partly by 3[the Board or the Generating
Company] and partly by the license owning them, or if the
arrangement for their use comes into force or determines
otherwise than at the beginning or end of a year of account,
the charges and allowances referred to in paragraph I shall
be the proper proportion thereof having regard to
the use made of the lines by 3 [the Board or the Generating
Company] and the period of such use during the year and
with the addition of the cost of such additional transmission
losses as may have been incurred by the licensee as a result
of the Board’s user of the lines.
II1. For the purpose of clause (e) of paragraph I
--
(i) “depreciated cost of the lines’ means original cost
thereof as determined in accordance with the provisions
of sub-paragraph (6) of paragraph XVII of the Sixth Schedule
less the amount written off or set aside on account of depreciation
on fixed assets and the amount written off in respect of
intangible assets thereof in the books of the undertaking
before or after the commencement of this Act.
(ii) the rate of interest shall be :--
(a) where the licensee owning the lines is a local authority,
the average rate payable on the money raised by that authority
for the purpose of constructing the lines;
(b) in any other case, the Reserve Bank rate ruling
at the beginning of the year referred to an paragraph I
plus two per centum.]
2Subs.
by Act 115 of 1976, s.32, for “by Board” (w.e.f. 8-10-1976)
3Subs. by s.32, ibid., for “the Board” (w.e.f.
8-10-1976)
4Subs. by Act 101 of 1956, s. 26 for “(including
super-tax payable by the licensee as a company,but excluding
other taxes on profits)”
5Subs. by s.26, ibid., for certain words.
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