Amendment status not verified — confirm the current text below against the official source.
Functions of the Price Fixation Committee.-(1) The Price Fixation Committee (PFC) shall perform the following functions, to recommend or approve the price for purchase of oil palm Fresh Fruit Bunches having regard to,- (a) the prices at which Crude palm oil produced from Oil Palm Fresh Fruit Bunch is sold by a factory; (b) the recovery of oil from Fresh Fruit Bunch; (c) the prices of crude palm oil in international market, and in other states in the country; (2) To convene a meeting once in four months to fix the price of Fresh Fruit Bunch and to discuss related issues. (3) To perform such other functions as may be prescribed. (4) No person shall sell or agree to sell oil palm Fresh Fruit Bunch to the Entrepreneur/Occupier of a factory and no such Entrepreneur/ Occupier shall purchase or agree to purchase Fresh Fruit Bunch, at a price lower/higher than the price specified under sub-section (1).