Section 93Part 13 — Dissolution of Authority
Transitional provisions
←→ Navigate · Click subsection badges to collapse · Press ? for help
A licence or other enabling instrument issued to a person to provide any aspect of generation or transmission and distribution of electricity in the Islands granted by the Cabinet and valid and in force immediately prior to the operative date shall continue valid and in force for the remainder of the term as if it were a licence granted under this Law on the operative date and such licence shall continue to be subject to each and every one of the terms, conditions and exemptions attaching to such licence as if the terms, conditions and exemptions had been imposed or granted under this Law on the operative date but shall otherwise be subject to the provisions of this Law.
Where a person who possesses such a licence or enabling instrument as described in subsection (1) has entered into an agreement with the Office being an agreement to surrender and terminate such licence or enabling instrument and to replace the same with a new licence or licences, immediately upon the surrender and termination of such licence or enabling instrument, the Office shall grant to such person such new licences on such terms, conditions and exemptions as have been so agreed, but such licences shall otherwise be subject to this Law; and the Cabinet may, for such period of time as it shall determine, appoint such persons as it considers necessary to assist in carrying out such functions as are deemed reasonably necessary to effect the issuance of such licences.