Extraordinary Federal Republic of Nigeria Official Gazette No.7 Lagos- 8th August, 2005 Vol.92 Government Notice No. 150 ‘Thefelowing is plished s Supplernetto this Gazene Act, Shor Tile Page 6, Electric Power Sector Reform Act AT1-130 Printed and Published by The Federal Goverament Press, Lages, Nigeria, 'FGP 153/102005/1,000 (OL 67) ‘Annual Subscription fom It January, 2005 is Local N1S,000.00 Overseas: N21 500 00 [Surface Mail) 124,500.00 [Second Clase Air Mail. Present issue N350.00 per cops: Subseribes wo wish to obtain Garete ‘ater 1 January Should apply to the Federal Goverment Printer, Lagos for amended SubsenptonsELECTRIC POWER SECTOR REFORM ACT, 2005 ARRANGEMENT OF SECTIONS. Section. PART — I FORMATION OF INITIAL AND SUCCFSSOR COMPANIES AND “THE TRANSFER OF ASSETS AND LIABILITY OF Tue NATIONAL ELECTRIC POWER AUTHORITY Fonpation of the initial holding company (Cap. C20 LPN 2004), Sharebolding inthe initial holding company. “Transfer of asses and labities of the Authority’ tothe init! heldine company. Exemption from stamp dury (Cap. 58 LEN 2008), ‘Transfer of employees to the inital holding company and tothe Commission, ee. Direaton to the Authority Licensing ofthe initial holding company, Formation of successor companies, Sharetoidings inthe successor companies. Transfer of assets and iabilis ofthe initial holding company to the successor companies Conclusive evden, Release from lability or obligation Enforcement or continuation of any cause of action or proveeditgs Limitation of suit aginst a transferee ‘A rarer shall nat be deemed o construe 2 breach of contact Provision of records, ete. toa transferee, Further order amending a ransfer ord. Regulations: ‘Guarantee or surety ‘Consideration fr the tansfer of assets to successor companies, ‘Transfer of employees to the designated successor eompanies and conditions of services of transfered employees Directions tothe inital hoiding company. Licensing ofthe successor companies. Processing f privatization of he successor companies, any If - DEVELOPMENT OF A COMPETITIVE ELECTRICITY MARKET ‘Competition during he proprivatistion stage. Competition during the post privatisation stage Ministerial dnectivesrespecing eligible ustomers ‘Ministerial directives respecting competition aston charges, ‘Commission's determinations respecting competition transition charges, Public hearing respecting commpottion transition chargesATR 2005 No.6 Electric Power Sector Reform Act 6 64, 65, 66, 6 68, 3 70, 1 PaKT ITI — Estapuisiinent, FUNCTIONS AND POWERS OF THE [NIGERIA ELECTRICITY REGULATORY COMMISSION Establishment ofthe Commission ‘Objects and Functions ofthe Commission. General policy directions. Appoirtment of Commissioners ‘Terms of office and conditions of service of Commissioners Conditions for appointment as Commissioner. Vacation of office by Commissione> Dismissal or suspension of Commissioners. Filling of vacancies inthe Commission. (Chairman and Vice-Chairman of the Commnissien, Meetings and procedure ofthe Commission, ‘Remuneration and expenses of Commissioners Commissioners to disclose certain connections and interes Noinvaliity of decisions and acts of the Commission Proceedings of the Commission Decisions and orders ofthe Commission, Comunission to givenotice interested parties, Commission to consult experts on technical questions Questions oflsw may be referred othe High Court Rehearing and Appeals Annual programmes and budgets ofthe Commission, Fundsof the Commission. ‘Surplus funds ofthe Commission Financial year ofthe Commission, Accounts ofthe Commission, ‘Auditof the Commistion’saccounts, Powers of auditors. Execution ofconiracts and instruments by the Coramission. Reports ofthe Commission Staffofthe Commission, Exemption from lability frre Commission, PART IV — LICENSES AND TARIFFS Licensing requirement: fines and penalties. General duties of licenses Generationlicences. ‘Trensmission licences System operation licence. Distribution licences. ‘Trading licences, Restrictions onticences, Anapplicaton for licence. ‘Termsand.conditionsficenses,