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Section 5

[12A. Transfer of mineral concessions.―(1) The provisions of this section shall not apply to minerals specified in Part A or Part B of the First Schedule.

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5 [12A. Transfer of mineral concessions.―(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 6 [composite licence 7 [or exploration licence]] granted in accordance with the procedure laid down in 8 [this Act] may, with the previous approval of the State Government, transfer his mining lease or 6 [composite licence 7 [or exploration 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 6 [composite licence 7 [or exploration licence]] in accordance with the provisions of this Act and the rules made thereunder.