(1) Every contractor agreement entered into by a Market Committee for the purchase, sale, lease, mortgage or other transfer of, or acquisition of interest in immovable property shall, in writing, be executed on behalf of Market Committee jointly by its Chairman and the Secretary, with the sanction of the Market Committee, as may be prescribed.
(2) No contract other than a contract executed as provided in subsection (1) shall be valid and binding on the Market Committee
(2) No contract other than a contract executed as provided in subsection (1) shall be valid and binding on the Market Committee
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Definitions.Section 3 · Notification of intention of regulating marketing of specified agricultural produce and livestock.Section 4 · Declaration of whole State as one unified market area.Section 5 · Notification of delineated market area.Section 6 · Alteration or Amalgamation of delineated market area and of items of agricultural produce and livestock.Section 7 · Principal market yard, sub‐market yard, market sub‐yard, private market yard, private market sub‐ yard, farmer‐consumer market yard, private farmer‐consumer market and electronic trading platform.Section 8 · Establishment and notification of “Special Commodity Market Yard”.India Code, Government of India. Text fetched 14 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.