Coking Coal Mines (Nationalisation) Act : Payment of amount to owners of coking coal mines. Indian Bare

Coking Coal Mines (Nationalisation) Act,1972

Act No : 36

Section : Payment of amount to owners of coking coal mines.

10. 1*[(1)] Payment of amount to owners of coking coal mines. The owner of every coking coal mine or group of coking coal mines specified in the second column of the First Schedule, shall be given by the Central Government, in cash and in the manner specified in section 21, for vesting in it, under section 4, the right, title and interest of the owner in relation to such coking coal mine or group of coking coal mines, an amount equal to the amount specified against it in the corresponding entry in the fifth column of the said Schedule. 2*[(2) For the removal of doubts, it is hereby declared that the amount specified in the fifth column of the First Schedule against any coking coal mine or group of coking coal mines specified in the second column of the said Schedule and required to be given by the Central Government to its owner under sub-section (1), shall be deemed to include, and deemed always to have included, the amount required to be paid to such owner in respect of all coal in stock or other assets referred to in clause (j) of section 3 on the date immediately before the appointed day and no further amount shall be payable to the owner in respect of such coal or other assets.] ---------------------------------------------------------------------- 1 Renumbered by Act 57 of 1986, s. 4 (w.e.f. 1-5-1972). 2 Ins. by s. 4, ibid. (w.e.f. 1-5-1992). 154