Amendment status not verified — confirm the current text below against the official source.
Mines worked by the Intermediary – (1) With effect from the date of vesting all such mines comprised in the estate as were in operation at the commencement of this Act and were being worked directly by the Intermediary shall, notwithstanding anything contained in this Act, be deemed to have been leased by the State Government to the Intermediary and such intermediary shall be entitled to retain possession of those mines as a lessee thereof. (2) The terms and conditions of the said lease shall be such as may be agreed upon between the State Government and the intermediary or in default of agreement, as may be settled by a Mines Tribunal appointed under Section 13 : Provided that all such terms and conditions shall be in accordance with the provisions of any Central Act for the time being in force regulating the grant of new mining leases.