Neyveli Lignite Corporation Limited (Acquisition and Transfer of Power Transmission System) Act :

Neyveli Lignite Corporation Limited (Acquisition and Transfer of Power Transmission System) Act,1994

Act No : 56

Section : Corporation to be lessee or tenant.

6. Corporation to be lessee or tenant. (1) Where any property is held by the company in relation to its power transmission system under any lease or right of tenancy, the Corporation shall, on and from the appointed day, be deemed to have become the lessee or tenant, as the case may be, in respect of such property as if the lease or tenancy in relation to such property had been granted to the Corporation and thereupon all the rights under such lease or tenancy shall be deemed to have been transferred to, and vested in, the Corporation. (2) On the expiry of the term of any lease or tenancy referred to in sub-section (1), such lease or tenancy shall, if so desired by the Corporation, be renewed on the same terms and conditions on which the lease or tenancy was held by the company immediately before the appointed day.