Amendment status not verified — confirm the current text below against the official source.
(1) Every market committee shall elect one of its members from the members of the class specified in clauses (i), (ii), and (iii) of sub-section (1) of section 11 to be its Chairman and another member to be its Vice-Chairman in such manner as may be prescribed. (2) The Chairman or Vice-Chairman may resign from office by tendering his resignation in writing to the market committee but it shall not take effect until it is accepted by the Director or on the expiry of sixty days from the date of tendering the resignation whichever event occurs earlier. (3) A temporary vacancy in the office of the Chairman or Vice-Chairman shall be filled in such manner as may be prescribed. (4) The Chairman and Vice-Chairman shall exercise such powers and per- form such duties and hold office for such terms as may be prescribed.