(1)

The provisions of this section shall not apply to minerals specified in Part A or Part B of the First Schedule.

(2)

A holder of a mining lease or a composite licence granted in accordance with the procedure laid down in section 10B or section 11 may, with the previous approval of the State Government, transfer his mining lease or composite licence, as the case may be, in such manner as may be prescribed by the Central Government, to any person eligible to hold such mining lease or exploration licence in accordance with the provisions of this Act and the rules made thereunder.

(a) for the words, figures and letter, “section 10B or section 11”, the words “this Act” shall be substituted;

(b) the following proviso shall be inserted, namely:-— “Provided that the transferee of mining lease shall not be required to pay the amount or transfer charges referred to in sub-section (6), as it stood prior to the commencement of the Mines and Minerals (Development and Regulation)Amendment Act, 2021, after such commencement but no refund shall be made of the charges already paid.”;

(3)

If the State Government does not convey its previous approval for transfer of such mining lease or composite licence, as the case may be, within a period of ninety days from the date of receiving such notice, it shall be construed that the State Government has no objection to such transfer:

Provided that the holder of the original mining lease or composite licence shall intimate to the State Government the consideration payable by the successor-in-interest for the transfer, including the consideration in respect of the prospecting operations already undertaken and the reports and data generated during the operations.

(4)

No such transfer of a mining lease or composite licence, referred to in sub-section (2), shall take place if the State Government, within the notice period and for reasons to be communicated in writing, disapproves the transfer on the ground that the transferee is not eligible as per the provisions of this Act:

Provided that no such transfer of a mining lease or of a composite licence, shall be made in contravention of any condition subject to which the mining lease or the composite licence was granted.

(5)

All transfers effected under this section shall be subject to the condition that the transferee has accepted all the conditions and liabilities under any law for the time being in force which the transferor was subject to in respect of such a mining lease or composite licence, as the case may be.