Union Cabinet approved creation of Nominated Authority in Ministry of Coal

Posted on:11 Mar 2016 09:28:05
Union Cabinet approved creation of Nominated Authority in Ministry of Coal
11 March 2016 Current Affairs: The Union Cabinet on 10 March 2016 approved creation of a post of Nominated Authority in the Ministry of Coal.The post will be of Joint Secretary level and was created as per the Section 6 of Coal Mines (Special Provisions) Act, 2015The Union Government shall act through the Nominated Authority for the following purposes.Conduct the auction process and allotment with the assistance of experts.Execution of the vesting order for transfer and vesting of Schedule I coal mines pursuant to the auction.Executing the allotment order for any Government company or corporation in pursuance of Section 5 of Coal Mines (Special Provisions) Act, 2015.Recording and mutating incorporeal rights of whatsoever nature including, consents, permissions, permits, approvals, grants, registrations.Collection of auction proceeds, adjustment of preferential payments and transfer of amount to the respective State Governments where Schedule I coal mine is located in accordance with the provisions of the Act.The creation of Nominated Authority post would resolve the uncertainties that had affected the coal sector and improve coal availability to the core sectors of the economy thereby enabling it to develop at faster pace.

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