Year : 2015
[Act No. 05 of 2016]
[31st December, 2015]
An Act further to amend the Atomic Energy Act, 1962.
BE it enacted by Parliament in the Sixty-sixth Year of the Republic of India as follows:-
Section -1 Short title and commencement.
(1) This Act may be called the Atomic Energy (Amendment) Act, 2015.
(2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
Section -2 Amendment of section 2
In Section 2 Of The Atomic Energy Act, 1962 (33 of 1962) (Here in after Referred To as The Principal Act), in sub-section (1), for clause (bb), the following clause shall be substituted, namely:-
'(bb) "Government company" means a company in which-
(i) Not less than fifty-one per cent. of the paid-up share capital is held by the Central Government; or
(ii) The whole of the paid-up share capital is held by one or more of the companies specified in sub-clause (i) and which, by its articles of association, empowers the Central Government to constitute and reconstitute its Board of Directors;â€™.
Section -3 Amendment of section 14
In the principal Act, in section 14, after sub-section (1), the following sub-sections shall be inserted, namely:-
â€œ(1A) No licence under sub-clause (c) of clause (ii) of sub-section (1) shall be granted to a person other than a Department of the Central Government or any authority or an institution or a corporation established by the Central Government, or a Government company.
(1B) Any licence granted to a Government company under sub- section (1) shall stand cancelled in case the licensee ceases to be a Government company and, notwithstanding anything contained in any other law for the time being in force, all assets thereof shall vest in the Central Government free from any liability and the Central Government shall take such measures for safe operation of the plant and disposal of nuclear material so vested in it, as may be necessary in accordance with the provisions of section 3.â€.