1 THE HARYANA ELECTRICITY REFORM ACT, 1997 ... - HIPA

scheme shall give effect to the transfer only for fair value to be paid by thetransferee to the State Government.(b) a transaction of any description is effected in pursuance of a transferscheme, it shall be binding on all persons including third parties, even ifsuch persons, third parties have not consented to it.(5) The State Government may after consulting the Transco (the "transferorlicensee"), or generating company(ies), as the case may be, require them to draw up atransfer scheme to vest in a further licensee (the "transferee licensee") or anygenerating companies, any property, interest in property, rights and liabilities whichhave been vested in the transferor licensee or generating companies, as the case maybe, under this section.(6) A transfer scheme may:-(a) define the property, interest in property, rights and liabilities to beallocated:-(i) by specifying or describing the property, rights and liabilities in question;(ii) by referring to all the property, interest in property, rights and liabilitiescomprised in a specified part of the transferor's undertaking; or(iii) partly in the one way and partly in the other;(iv) provide that in case of transfer scheme made for distribution theproperty, interest in property, rights & liabilities could be allocatedeither to a wholly State owned undertaking or a Joint Venture Company.(b) provide that any rights or liabilities specified or described in the schemeshall be enforceable by or against the transferor or the transferee;(c) impose on any licensee an obligation to enter into such written agreementswith, or execute such other instruments in favour of, any other subsequentlicensee as may be specified in the scheme, and(d) make such supplemental, incidental and consequential provisions as thetransferor licensee considers appropriate including provision specifying theorder in which any transfer or transaction is to be regarded as taking effect.(7) All debts and obligations incurred, and contracts entered into and all mattersand things engaged to be done by, with or for the Board, or Transco or generatingcompany(ies) before a transfer scheme becomes effective shall, to the extent specifiedin the relevant transfer scheme, be deemed to have been incurred, entered into or doneby,29