Section 5(2) in Coal Mines (Taking Over of Management) Act, 1973
(2)No person in charge of the management of a coal mine shall, without the previous approval of the person specified by the Central Government in this behalf in respect of that mine (hereinafter referred to as the "authorised person"),-(a)incur any expenditure from the assets pertaining to the coal mine otherwise than for the purpose of making routine payments of salaries or commissions to employees, agents or for the purpose of meeting the routine day-to-day expenditure;(b)transfer or otherwise dispose of any such assets or create any charge, hypothecation, lien or other incumbrance thereon;(c)invest in any manner any monies forming part of such assets;(d)acquire any immovable property out of the monies forming part of such assets;(e)enter into any contract of service or agency, whether expressly or by implication, for purposes connected wholly or partly with the coal mine or vary the terms and conditions of any such contract subsisting on the appointed day;(f)enter into any other transaction relating to the business of the coal mine or vary the terms of any agreement relating to such business subsisting at the commencement of this Act.
