(1) Nothing contained in this Act shall apply to any coal mine--
(a) owned, managed or controlled by Government, or by a Government company or by a corporation which is owned, managed or controlled by Government;
(b) owned or managed by a company engaged in the production of iron and steel:
Provided that clause (b) shall not extend to such part of the coal mine or production thereof which, in the opinion of the Central Government, is company owning or managing such coal mines:
Provided further that any coal obtained from any such coal mine as is referred to in the foregoing proviso in excess of the requirements for the production of iron and steel by the company owning or managing such coal mine, shall not be sold, delivered, transferred or otherwise disposed of except with the previous approval of the Central Government.
(2) Sub-section (1) shall not apply where there is any dispute as to the ownership or right of user of Government, Government company or corporation referred to in clause (a) of that sub-section, or company referred to in clause (b) of that sub-section, with regard to any coal mine or any machinery, equipment, vehicle, railway or tramway which is in such coal mine or is used for the purposes of such coal mine.