Mr. President Sir, with your permission, I move : “That in amendment No. 369 of List VII (Seventh Week), for the proposed article 24, the following be substituted :- “24 (a) The property of the entire people is the mainstay of the State in the development of the national economy. (b) The administration and disposal of the property of the entire people are determined by law. (c) Private property and private enterprises are guaranteed to the extent they are consistent with the general interests of the Republic and its toiling masses. (d) Private property and economic enterprises as well as their inheritance may be taxed, regulated, limited, acquired and requisitioned, expropriated and socialised but only in accordance with the law. It will be determined by law in which cases and to what extent the owner shall be compensated. (e) Expropriation over against the States, local self-governing institutions, serving the public welfare, may take place only upon the payment of compensation.”‘
