The National Coal Board (NCB) was the statutory corporation created to run the nationalised coal mining industry in the United Kingdom. Set up under the Coal Industry Nationalisation Act 1946, it took over the United Kingdom's collieries on "vesting day", 1 January 1947. In 1987, the NCB was renamed the British Coal Corporation, and its assets were subsequently privatised. Background Collieries were taken under government control during the First and Second World Wars. The Sankey Commission in 1919 gave R. H. Tawney, Sidney Webb and Sir Leo Chiozza Money the opportunity to advocate nationalisation, but it was rejected. Coal reserves were nationalised during the war in 1942 and placed under the control of the Coal Commission, but the mining industry remained in private hands. At the time, many coal companies were small, although some consolidation had taken place in the years before the war. Formation and organisation The NCB was one of a number of public corporations created by Clement Attlee's post-war Labour government to manage nationalised industries. The Coal Industry Nationalisation Act received royal assent on 12 July 1946 and the NCB was formally constituted on 15 July, with Lord Hyndley as its chairman. On 1 January 1947 a notice posted at every colliery in the country read, "This colliery is now managed by the National Coal Board on behalf of the people". Opencast operations were taken over on 1 April 1952. The NCB acquired 958 collieries, the property of about 800 companies. Compensation of £164,660,000 was paid to the owners for the collieries and £78,457,000 to former owners and for other assets such as 55 coke ovens, 85 brickworks and 20 smokeless fuel plants. The collieries it had acquired varied considerably in size and output. Coal was mined from seams that varied from 20 to 200 inches thick and the average pit produced 245,000 tons annually. More than a third of collieries produced less than 100,000 tons and 50 collieries produced more than 700,000 tons. The coal board divided the country into divisions, corresponding to the major coalfields, and each division was divided into areas with an output of approximately 4 million tons. The board also took over power stations at some collieries and railway sidings. It managed an estate of more than 140,000 houses and more than 200,000 acres of farmland. At its inception the NCB employed nearly 800,000 workers which was four percent of Britain's total