Minerals Exploration and Development Company Act, 1941

Lease or licence to the Company of acquired minerals.

26.—Whenever the Minister acquires (whether by agreement or compulsorily) an existing mining business under this Part of this Act, the Minister shall, as soon as conveniently may be after such acquisition, make to the Company under the Act of 1940 and the Company shall take either (as the Minister shall think proper) a State mining lease of the minerals included in such acquisition or a State acquired minerals licence in respect of those minerals.