Coking Coal Mines (Nationalisation) Act : Payment of further amount. Indian Bare Acts :

Coking Coal Mines (Nationalisation) Act,1972

Act No : 36

Section : Payment of further amount.

12. Payment of further amount. (1) In consideration of the retrospective operation of the provisions of section 4 and section 5, there shall be given by the Central Government, in cash, to the owner of every coking coal mine specified in the First Schedule or the owner of every coke oven plant specified in the Second Schedule, an amount equal to the amount which would have been, but for the provisions of the said section 4 or section 5, as the case may be, payable to such owner under the Coking Coal Mines (Emergency Provisions) Act, 1971 (64 of 1971), for the period commencing on the 1st day of May, 1972, and ending on the date of assent. (2) In addition to the amount specified in sub-section (1), there shall be given by the Central Government, in cash, to the owner of every coking coal mine specified in the First Schedule and the owner of every coke oven plant specified in the Second Schedule, simple interest at the rate of four per cent. per annum on the amount specified against such owner in the corresponding entry in the fifth column of the first schedule or the second schedule, as the case may be, for the period commencing on the date of assent and ending on the date of payment of such amount to the Commissioner. (3) The amounts referred to in sub-section (1) and sub-section (2) shall be in addition to the amount specified in the First Schedule or the Second Schedule, as the case may be.