Amendment status not verified — confirm the current text below against the official source.
(1) There shall be established a fund to be called the State Agri- cultural Marketing Development Fund which shall be maintained and administered by the Board. (2) The amount standing to the credit of the State Agricultural Produce Market Fund under section 34 immediately before the commencement of the |Gujarat Agricultural Produce Markets (Amendment) Ordinance, 1985 shall, on such com- mencement, stand transferred to, and form the corpus of, the Development Fund. (3) The following shall form part of, or be paid into, the Development Fund, namely:– (a) all contributions received by the Board from the market committees under sub-section (1) of section 34M ; (b) all contributions and grants made or sanctioned to the Board by the State Government Under sub-section(2) of Section 34M; ; (c) any sums borrowed by the Board ; (d) all incomes or moneys received by the Board from any source what- soever including income or charge levied by it or donations or grants, received from the local authorities, market committees or other institutions and individuals ; (e) amounts recovered as an arrear of land revenue under sub-section (3) of section 34T; (j) such other sums as the State Government may, from time to time, specify. Establishment and administration of State Agricultural Marketing Development Fund. Guj. Ord. 7 of 1985 20 Gujarat Agricultural Produce Markets Act, 1963 1964 : Guj. XX] (4) All expenditure incurred by the Board shall, from time to time, be defrayed out of the Development Fund and surplus, if any, shall be invested by the Board in public securities or shall be deposited in any scheduled bank, as defined in the Reserve Bank of India Act, 1934 or in a co-operative bank approved by the State Government for this purpose.