Minerals Exploration and Development Company Act, 1941


Acquisition of Existing Mining Businesses by the State.

Acquisition of existing mining businesses.

18.—Whenever it appears to the Minister:—

(a) that, for the purposes of obtaining in adequate quantities commodities essential to the life of the community, the common good requires that the working of any particular deposit of minerals should be controlled by the State, and

(b) that, to secure to the State effective control of the said deposit of minerals, it is necessary that the Minister should acquire a particular existing mining business engaged in working the said deposit or a portion of the said deposit,

the Minister may, with the consent of the Minister for Finance, either acquire the said existing mining business by agreement with the proprietor thereof, or, in default of agreement, by order (in this Act referred to as a mining business acquisition order) compulsorily acquire the said business.