Section 24 Electricity Act 2023

Section 24 of the Electricity Act 2023 is about Guarantee or surety. It is under Part IV (Incorporation and Licensing of ISO) of the Act.

Any guarantee or surety which was given or made by the TCN on any other person in respect of any debt or obligation of the TCN and which was effective immediately before the transfer of the principal debt or obligation to the ISO, shall remain fully effective against the guarantor or surety on and after the transfer date in relation to the repayment of the debt or the performance of the obligation, as the case may be, by the Iso.