Following the restructuring of Iran's Electricity Industry and in compliance with Note 12 of Article (G) of the Budget Law of 2004, Iran Grid Management Company (IGMC) was established and became active in the second half of 2005. Article (G), note 12: "In 2004, Iran Power Transmission, Generation and Distribution Company (TAVANIR) is authorized to purchase all shares of one of its subsidiaries through its own financial resources, and transfer the entire tasks of national grid management, electricity transactions & transit, and establishing the electricity market to this company." The company's statute, proposed by the Ministry of Energy, confirmed by the state Management and Planning Organization (MPO), approved by the Council of Ministers, and reconfirmed by the Guardian Council, eventually was served to the Ministry of Energy by the Cabinet.