38.—(1) Notwithstanding anything contained in any Act or order, any authorised undertaker may at any time request the Board to acquire his undertaking and thereupon the Board, if it thinks fit so to do, may by order acquire such undertaking.

(2) The Board may by order at any time acquire the undertaking of any authorised undertaker, and also may at any time by agreement with any person generating, distributing and supplying or distributing and supplying electricity in pursuance of a permit granted to such person under this Act acquire the undertaking (or any part thereof) of such person.