Act Number: 16

Act Name: The Goa, Daman and Diu Mining Concessions (Abolition and Declaration as Mining Leases) Act, 1987

Year: 1987

Enactment Date: 1987-05-23

Long Title: An Act to provide for the abolition of the mining concessions in operation in the Union territory of Goa, Daman and Diu and specified in the First and the Second Schedules, and for the declaration of such mining concessions as mining leases under the Mines and Minerals (Regulation and Development) Act, 1957 with a view to the regulation of the mines to which such concessions relate and for the development of minerals under the control of the Union and for matters connected therewith or incidental thereto.

Ministry: Ministry of Mines

Department:

Section 7: Payment of further amount.
    (1) There shall also be given by the Central Government, in cash, to every concession holder specified in the second column of the First and the Second Schedules, simple interest at the rate of four per cent. per annum on the amount specified against such concession holder in the corresponding entry in the eighth column of the First Schedule and the ninth column of the Second Schedule, as the case may be, for the period commencing on the date of assent and ending on the date of payment of such amount to the Commissioner.
     (2) The amount referred to in sub-section (1) shall be in addition to the amount specified in the First Schedule or the Second Schedule, as the case may be
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