The Coal Mines (Nationalisation) Act, 1973 to provide for the acquisition and transfer of the right, title and interest of the owners in respect of the coal mines specified in the schedule with a view of reorganising and reconstructing such coal mines so as to ensure the rational, co-ordinated and scientific development and utilisation of coal resources consistent with the growing requirements of the country, in order that the ownership and control of such resources are vested in the State and thereby so distributed as best to subserve the common good, and for matters connected therewith or incidental thereto.
2. In the Coal Mines (Nationalisation) Act, 1973, in section 3, in subsection (3), in clause (a), for item (iii), the following shall be subsitituted namely: (iii) a company engaged in- (1) the production of iron and steel, (2) generation of power (3) washing of coal obtained from a mine or (4) such other end use as the Central Government may, by notification, specify.