I don't know, because I don't know what that is. Is that the act that set up the current list of banned substances / mechanism of enforcement?
Let me assume that it is. In one respect, then, it is "socialist" (to ban controlled substances). Namely: if I am a farmer, the government is telling me I cannot grow certain crops on my own land. If I happen to possess such a "controlled" substance, the government is telling me I cannot exchange it with other people in return for something I desire more (for example, a sum of money). In fact the government is telling me I cannot possess it altogether, and if I am caught with it, it will be taken away from me (plus other bad stuff will happen to me too, i.e. I will be tossed in jail :)
So in this respect, yes, controlling substances is "socialist".
However, I would say it is much more than that. Calling it "socialist" only tells half the story, because such laws are about more than collectively using/disposing of the property. Such laws are about dictating which activities are moral/allowed, and which aren't. I guess what I'm saying is that anti-drug laws, like Prohibition laws and anti-prostitution laws, are at heart moralistic laws - legislated morality.
For what it's worth.