Section 3(iii) in THE CONSTITUTION (FOURTH AMENDMENT) ACT, 1955
(iii)In the interest of national economy the State should have full control over the mineral and oil resources of the country, including in particular, the power to cancel or modify the terms and conditions of prospecting licenses, mining leases and similar agreements. This is also necessary in relation to public utility undertakings which supply power, light or water to the public under licenses granted by the State.
