132. Amount payable by the holders of mineral lease holders or Settlees/licensee to the Trust.
(1)In respect of Minor Minerals an amount equal to two percent or at a rate prescribed by the State Government from time to time of the annual bidding/settlement amount/compounded royalty as per category fixed in case of brick earth/royalty payable by permit holder/royalty paid by existing mining lease holder shall be charged from the mineral concession holder on annual basis and credited to the Foundation, in addition to the amount payable to the Government on account of such concession.(2)The said contribution shall be remitted by the mineral concession holder by 31st December every year during the entire concession period. In case of sand settlement, the said amount shall be paid along with the installments of mining royalty.(3)For default in payment till prescribed date simple interest @ 24 percent per annum or as decided by the State Government shall be charged from the Mineral concession holder.
