| (1) A transfer scheme prepared under this Act in respect of the electrical undertakings carried on by a local authority in its capacity as a licensee within the meaning of the Electricity Act shall provide for the transfer to the Board of such undertakings, and may, subject to the provisions of sub-section (2), also provide-
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| (a) for the transfer to, and the vesting in, the Board of any movable or immovable property of such authority used for the purposes of such undertakings; | | |
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| (b) for the transfer to the Board of all or any rights, obligations and liabilities of such authority relating to or connected with such under- takings, and for the adaptation or modification of contracts or other instruments for the purpose of giving effect to the transfer of such rights, obligations and liabilities from such authority to the Board; | | |
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| (c) for the adaptation or modification of any written law to such extent as may be necessary for the purpose of enabling the Board to carry on such undertakings in lieu of such authority; | | |
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| (d) for such financial adjustments between such authority and the Board as may be necessary in consequence of any such transfer ; and | | |
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| (e) for any other matter supplementary to or consequential on the matters aforesaid including the continuation of legal proceedings. | | |
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Sri Lanka Consolidated Acts