Section 18 in Coal Mines (Nationalisation) Act, 1973
18. Payment by the Central Government to the Commissioner.-
(1)The Central Government shall, within thirty days from the specified date, pay, in cash, to the Commissioner for payment to the owner of a coal mine, an amount equal to the amount specified against the coal mine in the Schedule and shall also pay to the Commissioner such sums as may be due to the owner of a coal mine under section 9.(2)In addition to the sum referred to in sub-section (1), the Central Government shall pay, in cash, to the Commissioner, such amount as may become due to the owner of a coal mine in relation to any period, after the appointed day, during which the management of the coal mine remains vested in the Central Government.(3)A deposit account shall be opened by the Central Government, in favour of the Commissioner, in the Public Account of India, and every amount paid under this Act to the Commissioner shall be deposited by him to the credit of the said deposit account in the Public Account of India, and thereafter the said deposit account shall be operated by the Commissioner.(4)Separate records shall be maintained by the Commissioner in respect of each coal mine in relation to which payments have been made to him under this Act.(5)Interest accruing on the amounts standing to the credit of the deposit account referred to in sub-section (3) shall enure to the benefit of the owners of coal mines.(6)References in this section to the owner of a coal mine shall, in relation to a group of coal mines specified in the Schedule, be construed as references to coal mines.
