Minerals Exploration and Development Company Act, 1941

Compensation in respect of mining business acquisition orders.

22.—(1) Whenever the Minister makes a mining business acquisition order, the Company shall, subject to the provisions of this section, be liable to pay compensation in accordance with this Act in respect of the existing mining business (including the acquired minerals) acquired by the order.

(2) No compensation shall be payable in respect of so much (if any) of the acquired minerals as are State minerals.