Oman Electricity Transmission Company S.A.O.C - Authority for ...

(b)Where, in relation to the accounting statements in respect of a financial year, theLicensee has changed such bases of charge or appointment or allocation fromthose adopted for the immediately preceding financial year, the Licensee shall, ifso directed in directions issued by the Authority, in addition to preparingaccounting statements on the bases which it has adopted in respect of thatfinancial year, prepare accounting statements on the bases applied in respect ofthe immediately preceding financial year.4. Accounting statements in respect of a financial year prepared under paragraph 2(b)(i)shall, unless otherwise approved by the Authority having regard to the purposes of thisCondition:(a)(b)(c)(d)have the same content and format (in relation to each Separate Business) as theannual accounts of the Licensee prepared under relevant law;conform to the best commercial accounting practices and accounting standardsor such other standards as may be notified to the Licensee by the Authority fromtime to time;state the accounting policies adopted; and(with the exception of the part of such statement which shows separately theamounts charged, apportioned or allocated and describes the bases of charge orapportionment or allocation respectively), be prepared and provided with theannual accounts of the Licensee.5. References in this Condition to costs or liabilities of, or reasonably attributable to, anySeparate Business shall be construed as excluding taxation, capital liabilities which donot relate principally to a particular Separate Business, and interest thereon andreferences to any profit and loss account shall be construed accordingly.Oman Electricity Transmission Company SAOC Licence 1-May-2005 Page - 29 -