(1) Save as provided in subsection (2) all money received by a Market Committee shall be paid in to a fund to be called The Market Committee Fund and all expenditure incurred by the Market Committee under or for the purposes of this Act shall be defrayed out of the said fund. Any surplus remaining with the Market Committee after such expenditure has been met, shall be invested in such manner as may be prescribed.
(2) Any money received by the Market Committee by way of arbitration fee or as security for costs in arbitration proceedings relating to disputes or any money received by the committee by way of security deposit, contribution to provident fund or for payment in respect of any notified agricultural produce including livestock, or charges payable to market functionaries as required and such other money received by the Market Committee may be provided in the Rules or Byelaws, shall not form part of Market Committee Fund, and shall be kept in such manner as may be prescribed.
(3) Save as otherwise provided in this Act, the amount to the credit of the Market Committee Fund and also other money received by the Market Committee shall be kept in a scheduled nationalized cooperative banks or in the nationalized bank or post office saving bank or in any other mode with the approval of the Managing Director.
(2) Any money received by the Market Committee by way of arbitration fee or as security for costs in arbitration proceedings relating to disputes or any money received by the committee by way of security deposit, contribution to provident fund or for payment in respect of any notified agricultural produce including livestock, or charges payable to market functionaries as required and such other money received by the Market Committee may be provided in the Rules or Byelaws, shall not form part of Market Committee Fund, and shall be kept in such manner as may be prescribed.
(3) Save as otherwise provided in this Act, the amount to the credit of the Market Committee Fund and also other money received by the Market Committee shall be kept in a scheduled nationalized cooperative banks or in the nationalized bank or post office saving bank or in any other mode with the approval of the Managing Director.
आगे पढ़ें / Continue reading
Explore the next section or browse this act in the selected language.
Next · Section 83Application of Market Committee Fund. →All sections / सभी धाराएँThe Meghalaya State Agricultural Produce and Livestock Marketing (Promotion and Facilitation) Act, 2020 (Act No. 9 of 2020) →
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.