The Naval and Aircraft Prize Act, 1971

The Naval and Aircraft Prize Act, 1971 is an Indian law act that lays down provisions for the distribution of prizes captured by the Indian naval and air forces during a war or any operation. The act provides for the appointment of a Prize Committee that is responsible for assessing the value of the prizes and distributing them amongst the Indian government, the naval and air forces, and the individuals who captured the prizes. The act also provides for the constitution of an Appellate Committee to hear appeals against the decisions of the Prize Committee.