(2) The grounds referred to in subsection (1) are—
- (a) the electricity licensee is or is likely to be unable to pay its debts;
- (b) the occurrence of a public emergency;
- (c) the Minister considers it in the interest of the security and reliability of supply of electricity to the public; or
- (d) the Minister considers it in the public interest.
(3) Notice of any application under subsection (1) shall be given immediately by the Authority to such persons and in such manner as may be determined by the Authority.
(4) Any order made by the Minister under subsection (1) must be published in such manner as will secure adequate publicity.
(5) Any decision of the Minister under subsection (1) shall be final.
(6) For the purposes of this section, an electricity licensee, being a company, is unable to pay its debts if it is deemed to be unable to pay its debts under section 254 (2) of the Companies Act (Cap. 50).
(7) Notwithstanding any written law—
- (a) an electricity licensee shall not be wound up voluntarily without the consent of the Authority;
- (b) no judicial management order under Part VIIIA of the Companies Act shall be made in relation to an electricity licensee;
- (c) no step shall be taken by any person to enforce any security over an electricity licensee’s property, except where that person has served on the Authority 14 days’ notice of his intention to take that step; and
- (d) no step shall be taken by any person to execute or enforce a judgment or order of court obtained against an electricity licensee, except where that person has served on the Authority 14 days’ notice of his intention to take that step.
(8) The Authority shall be a party to any proceedings under the Companies Act relating to the winding up of the affairs of an electricity licensee.
