completion of the sale or on the date on which the utility is delivered to the
intending purchaser, as the case may be, whichever is earlier-
(a) the utility shall vest in the purchaser or the intending purchaser,
as the case may be, free from any debt, mortgage or similar
obligation of the licensee or attaching to the utility:
Provided that any such debt, mortgage or similar obligation shall attach to
the purchase money in substitution for the utility; and
(b) the rights, powers, authorities, duties and obligations of the
licensee under his licence shall stand transferred to the purchaser
and such purchaser shall be deemed to be the licensee.
Section 21 • The Electricity Act 2003
Section 21. Where a utility is sold under section 20 or section 24, then, upon
electricity-act-2003-sec-21.json
•
Section 21
{
"act_title": "The Electricity Act 2003",
"act_slug": "electricity-act-2003",
"section_label": "Section",
"section": {
"number": "21",
"title": "Section 21. Where a utility is sold under section 20 or section 24, then, upon",
"chapter": null,
"content": "completion of the sale or on the date on which the utility is delivered to the \nintending purchaser, as the case may be, whichever is earlier- \n \n(a) the utility shall vest in the purchaser or the intending purchaser, \n as the case may be, free from any debt, mortgage or similar \n obligation of the licensee or attaching to the utility: \n \nProvided that any such debt, mortgage or similar obligation shall attach to \nthe purchase money in substitution for the utility; and \n \n(b) the rights, powers, authorities, duties and obligations of the \n licensee under his licence shall stand transferred to the purchaser \n and such purchaser shall be deemed to be the licensee.",
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},
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"next_section": "22"
}