Section 64: Generation licences.

(1) Subject to such terms and conditions as the Commission may fix in the licence, a generation licence shall, as the circumstances may require, authorise the licensee to construct, own, operate and maintain a generation station for purposes of generation and supply of electricity in accordance with this Act.
(2) Subject to this Act, the holder of a generation licence may sell power or ancillary services to any of the classes of persons specified in the licence.
(3) The Commission may issue generation licences to:
(a) one or more of the successor companies formed under section 8, herein described as a "successor generation company" ; or
(b) one or more entities that are not successor companies formed under section 8, herein described as an "independent power producer."