(1) Every owner of a coking coal mine shall be given by the Central Government compensation, in cash, for vesting in it, under section 3, the management of such mine.
(2) For every month during which the management of the coking coal mine remains: vested in the Central Government, the amount of compensation referred to in sub-section (1) shall be twenty-five paise per tonne of coal on the average monthly production of coal from such mine during the calendar years 1968, 1969 and 1970.
Payment of compensation.
7. If any person—
(a) fails to deliver to the Custodian any assets, books of account, registers or any other documents in his custody relating to the coking coal mine in respect of the management of which the Custodian has been appointed, or
(b) retains any property of such coking coal mine, or
(c) fails to comply with the provisions contained in sub-section
(3) or sub-section (5) or sub-section (6) of section 4, or
(d) fails to comply with any directions issued under sub-section
(1) or sub-section (4) of section 5, he shall be punishable with imprisonment for a term which may extend to six months, or with fine which may extend to ten thousand rupees, or with both.
Penalties.
8. No proceeding for the winding up of a mining company, the management of whose coking coal mines have vested in the Central Government under this Ordinance or for the appointment of a Receiver in respect of such business, shall lie in any court.
Mining companies not to be woundfup by Court.
9. In computing the period of limitation prescribed by law for the time being in force for any suit or application against any person by a mining company in respect of any matter arising out of any transaction in relation to the coking coal mine, the time during which this Ordinance is in force shall be excluded.
Exclusion «f tim« of Ordinance for computing period of limitation 10 The provisions of this Ordinance shall have effect notwithstanding anvthing inconsistent therewith contained in any other law for the time being in force or in any instrument having effect by virtue of any law other than this Ordinance.
Effect of Ordinance on other Uwt.
SEC. 1] TH1 GAZETTH OF INDIA EXTRAORDINARY 331
11. The Central Government may, by notified order, direct that all or any of the powers exercisable by it under this Ordinance may also be exercised by any person or persons as may be specified in the order.
Delegation of power*