Amendment status not verified — confirm the current text below against the official source.
The objects of the Market Committee shall be as follows : - (I) to maintain and manage the market area and to control, regulate and run the market in the interest of the agriculturists and traders holding licence under this Act; (2) to regulate and control transaction in the market and to deal license holder who defaulted to open, close and suspend trade in any regulated commodity, to settle disputes, levy and recover market charges, fees of an agricultural produce, license and other fees, to impose fines and penalties; (3) to act as a mediator, arbitrator or surveyor in all matters of differences, disputes, claims, etc., between license holders' interest or between them and agriculturists making use of the market as sellers of agricultural produce; (4) to control and regulate the admission to the market to determine the conditions for use of the market and to prosecute and confiscate the goods belonging to person trading without a valid license; (5) to bring, prosecute or defend or aid in bridging, prosecuting or defending any suit, action proceeding, application or arbitration on behalf of the Market Committee or otherwise directed by the Government; (6) to purchase, hire or acquire any land for construction of any house thereon or other movable or immovable property and other equipment for the purpose of its business, to raise fund from the Government or otherwise with the approval of the Director for the said purpose and to enter into arrangements with the Government, local authority or otherwise and to comply with such arrangements ; and to do such other things as may be required for the purpose of achieving the object and requirements of the Act, and the rules and the bye-laws framed there- under.