Amendment status not verified — confirm the current text below against the official source.
(1\ 97 Committee after such expenditure has been met, shall be invested in such manner as may be prescribed. Any money received by the Committee by way of arbitration lee 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 Horticulture produce, or other charges payable by the Committee or such other money received by the Committee as may be provided in the rules or bye- laws, shall not torm part of Committee Fund, and shall be kept in such manner as may be prescribed. Every Committee, out of its fund, shall pay to the Board, fifty percent of the total market fee collected under section 41 during the year, to meet the expenses of establishment of the Board and expenses incurred in execution ol the lunctions assigned to the Board under this Act. All money and receipts specified in this section and forming part olthe fund ofthe Committee shall be deposited in any Nationalized Bank or any other Bank having National Computerized Network. The account shall be operated in the Joint signatures of Chairman, Vice Chairman and member secretary in District level. The Secretary of the Committee shall be the Head ol office and shall exercise such financial powers as have been conferred under lhe Financial Rules of the State Government on the Head of office. Every Committee shall prepare and pass the budget of its income and expenditure for the ensuing year in such manner and in such form and within such period as may be prescribed and shall submit it to the Managing Director of the Board and the Managing Director shall place the same before the Board for approval. The board shall approve the budget with or without modilication within two monlhs from the date of receipt thereof. lf the budget is not returned by the Managing Director within two months, it shall be deemed to have been approved. Preparation and sanction of budget ot Committee. Purpose lor 48 which the Committee fund may be expended. 98 (2) A Committee at any time during the year for which any budget has been sanctioned, cause a revised or supplementary budget to be passed and sanction in the same manner as if it were an original budget. (3) No expenditure shall be incurred by a Committee on any item if there is no provision in the sanctioned budget thereof unless it can be met by re-appropriation from saving under any other head. The sanction lor re-appropriation may be obtained from the Board. Provided that in case of re- appropriation from minor heads under one major head, sanction for re-appropriation shall not be required. Subject to the provisions of section 46, the Committee in order to discharge functions and duties entrusted to it under lhis Act, may use the Committee Fund. Without prejudice to generality of this provision the Committee fund may be used for the following purposed, namely:- (l) The acquisition ol a site or sites for the market. (ll) The establishment, maintenance and improve- ment of the market yard. (lll) The convenience and repairs ol buildings necessary for the purpose of the market yard and for convenience or safety of the persons using the market yard. (Vl) The maintenance ot standard weights and measures. (V) The meeting ol establishment charges including payments and contributions towards provident fund, pension and gratuity of the otficers and servants etc. of the Committee (Vl) Loans and advances to the employees of the committee. (Vll) The payment ol interest on the loans that may be raised forthe purpose ofthe market and provisions of sinking fund jn respect ol such loans. (Vlll) The collection and dissemination of information relating to the Horticultural produce. 99 (lX) The expenses incurred in auditing the accounts of the Committee and expenses incuned in the maintenance of the oflices. (X) Payment ol honorarium and travelling allowance to the Chairman and other non-employees of the committee and employees of the committee as may be prescribed. (Xl) Contribution to lvlarketing Development Fund. (Xll) Contribution to any scheme for development of Horticultural marketing including transport. (Xlll) For providing facilities like grading, standardiza- tion, and quality certilication seNices and communi- cation to Horliculturist in the market area. (XlV) lncurring expenses on research and development, extension and training to larmers in marketing of Horticultural produce. (M Prevention, inconjuction with other Agencies, State, Central, and others of distress sale ol Horticultural produce. W) Fostering cooperative marketing and assisting cooperative marketing societies in the procure- ment and profilable disposal of produce particularly the produce belonging to small and marginal larmers. (XVll) Create and promote on ils own orthrough public- private partnership inlrastruclure and post harvest handling ol Horticulture produce, cold storages, proceeding facilities, pack houses and all such infrastructure to develop modern market system. (XVlll) Meeting any legal expenses incurred by the committee. (XlX) On the training and skill enhancement of staff of lhe committee ; and (XX) With the previous sanction of the bcard, any other purpose which is calculated to promote the general interests of the committee or the notified market area or any other purpose calculated to promote the national interest. Power to borrow. 100