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Nigeria Electric Power Sector Reform Act 2005

Nigeria Electric Power Sector Reform Act 2005

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Published by Nneamaka Achebe

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Categories:Types, Business/Law
Published by: Nneamaka Achebe on Mar 22, 2012
Copyright:Attribution Non-commercial

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12/29/2013

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Extraordinary
FederalRepublicofNigeriaOfficialGazette
NOo77
Lagos-8thAugust,2005
Vol.92
GovernmentNoticeNo.150
ThefollowingispublishedasSupplementtothisGazette:
AetNa.ShortTitlePage
6.
ElectricPowerSectorReformAct,
2005
A77-130PrintedandPublishedbyTheFederalGovernmentPress,Lagos,Nigeria.FGP
153/102005/1,000
(OL67)AnnualSubscriptionfromlstJanuary,2005isLocal:NlS,OOO.OOOverseas:N21,500.00[SurfaceMail]N24,500.00[SecondClassAirMail].PresentissueN3S0.00percopy.Subscriberswhowish
to
obtain
Gazette
after15tJanuaryShouldapplytotheFederalGovernmentPrinter,LagosforamendedSubscriptions.
 
ELECTRICPOWERSECTORREFORMACT,2005
ARRAI"GEMENTOFSECTIONS
Section:
PART-
I
FORMATIOl\'OFINITIALANDSCCCESSORCOMP/\NIES."'-,\DTHETR:\l\'SFEROFASSETSA~DLIABILITI'OFTHENATlOl\'t\LELECTRICPOWERAUTHORlTI.
1.
Formationoftheinitialholdingcompany(Cap.C20LFN2004).2.Shareholdingintheinitialholdingcompany.3.TransferofassetsandliabilitiesoftheAuthoritytotheinitialholdingcompany.4.Exemptionfromstampduty(Cap.58LFN2004).5.TransferofemployeestotheinitialholdingcompanyandtotheCommission,etc.6.DirectiontotheAuthority7.Licensingoftheinitialholdingcompany.8.Formationofsuccessorcompanies.9.Shareholdingsinthesuccessorcompanies.10.Transferofassetsandliabilitiesoftheinitialholdingcompanytothesuccessorcompanies11.Conclusiveevidence.12.Releasefromliabilityorobligation.13.Enforcementorcontinuationofanycauseofactionorproceedings.14.Limitationofsuitagainstatransferee.15.Atransfershallnotbedeemedtoconstituteabreachofcontract.16.Provisionofrecords,etc.toatransferee.17.Furtherorderamendingatransferorder.18.Regulations:19.Guaranteeorsurety.20.Considerationforthetransferofassetstosuccessorcompanies.21.Transferofemployeestothedesignatedsuccessorcompaniesandconditionsofservicesoftransferredemployees.22.Directionstotheinitialholdingcompany.23.Licensingofthesuccessorcompanies.24.Processingofprivatizationofthesuccessorcompanies.
PARTII-DEVELOPMEKTOFACO.\lPET[TIVEELECTRIC1TY
lvL'l.RKET
25.Competitionduringthepre-privatisationstage.26.Competitionduringthepost-privatisationstage.27.Ministerialdirectivesrespectingeligiblecustomers.28.Ministerialdirectivesrespectingcompetitiontransitioncharges.29.Commission'sdeterminationsrespectingcompetitiontransitioncharges.30.Publichearingrespectingcompetitiontransitioncharges
A77
 
A78
2005
No.6
ElectricPowerSectorReformAct
PART
III-
ESTABLISHMENT,FUNCTIONSANDPOWERSOFTHENIGERIA!'\ELECTRICITYREGULATORYCOMMISSION
31.EstablishmentoftheCommission.32.ObjectsandFunctionsoftheCommission.33.
c:
c'rreralpolicydirections.34.AppointmentofCommissioners.35.TermsofofficeandconditionsofserviceofCommissioners.36.ConditionsforappointmentasCommissioner.37.VacationofofficebyCommissioner..38.Dismissalorsuspension
0
fCommissioners.39.FillingofvacanciesintheCommission.40.ChairmanandVIce-ChairmanoftheCommission.41.MeetingsandprocedureoftheCommission.42.RemunerationandexpensesofCommissioners.43.Commissionerstodisclosecertainconnectionsandinterests.44.Noinvalidi
ty
0
f
decisionsandactsoftheCommission.45.ProceedingsoftheCommission.46.DecisionsandordersoftheCommission.47.Commissiontogivenoticetointerestedparties.48.Commission
to
consultexpertsontechnicalquestions.49.Questions
0
flawmaybereferredtotheHighCourt.50.RehearingandAppeals.51.AnnualprogrammesandbudgetsoftheCommission.52.FundsoftheCommission.53.SurplusfundsoftheCommission.54.FinancialyearoftheCommission.55.AccountsoftheCommission.56.AuditoftheCommission'saccounts.57.Powersofauditors.58.ExecutionofcontractsandinstrumentsbytheCommission.59.ReportsoftheCommission
61.
StaffoftheCommission.61.ExemptionfromliabilityfortheCommission.
PART
IV-
LICENSESA~DTARIFFS
62Licensingrequirement:finesandpenalties.63.Generaldutiesoflicenses64.Generationlicences.65.Transmissionlicences.66.Systemoperationlicence.67.Distributionlicences.68.Tradinglicences.69.Restrictionsonlicences.70.
An
applicationforalicence.71.Termsandconditionsoflicenses.

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