The administration by the panchayat over any Electrical undertaking intended for the generation, transmission, supply and consumption of electricity shall be subject to such restriction as prescribed which are not contrary to the Indian Electricity Act, 1910 (Central Act 9 of 1910) of the Electricity Supply Act, 1948 (Central Act 54 of 1948) or to the directions issued by the Kerala State Electricity Board from time to time and the conditions of the licence issued by the panchayat thereunder.