49. The National Coal Board (later renamed the British Coal Corporation).

The Coal Industry Nationalisation Act 19461 effected the nationalisation of the coal-mining industry as from 1 January 19472, and established the National Coal Board3 as a body corporate4. On that date there vested in the National Coal Board all the interests in unworked coal5 and in mines of coal6, of colliery concerns7 and of the Coal Commission8 and, subject to certain provisions9, certain interests which under the Coal Act 1938 were retained interests10. Compensation was payable11 for the wide range of assets12 so transferred.

The National Coal Board was charged with the duties of: (1) working and getting the coal