Amendment status not verified — confirm the current text below against the official source.
1 [14A. Election Fund.- 2 [( 1 ) 3 [( a ) The Superintendence, direction and control of the preparation of the list of voters for, and conduct of all elections to Market Committees, shall vest in the State Co-operative Election Authority, and] (b) 4 [* * *] For the purpose of preparing the list of voters and conduct of elections every Market Committee shall constitute an Election Fund consisting of an amount equal to 5 [ten per cent.] of all moneys received by it by way of fees under this Act during any year or 6rupees one lakh per annum, whichever is less.]] ( 2 ) The Election Fund shall be invested in such manner as the Director may direct, regard being had to the elections to be held during the year, and the necessity to have the monies available from the Fund for the preparation of the list of voters or for the conduct of such election or for both. ( 3 ) Every Market Committee shall inform 7 [the State Co-operative Election Authority] of the amount standing to the credit of the Election Fund every year not later than the 31st day of October and also at any other times when required by 8 [the State Co-operative Election Authority] so to do. ( 4 ) Whenever the list of voters is to be prepared or revised or any elections to the Market Committee are to be held, 9 [the State Co-operative Election Authority] shall in writing inform the Market Committee of the same, and require the Market Committee to deposit with him such amount and before such date as may be specified in writing for meeting expenses for preparing or revising the list or as the case may be, for conducting the elections or of both. ( 5 ) 10 [The State Co-operative Election Authority] shall after the preparation or revision of list of voters, or after the declaration of the result of the elections, draw up statement of expenditure incurred in preparing or revising such list, or in conducting the electors and shall within a period of three months from such preparation or revision of result, forward the same to the Market Committee for information. The balance remaining unspent, if any, shall be refunded to the Market Committee. If the expenditure incurred exceeds the amount of deposit 11 [the State Co-operative Election Authority shall call upon the Market Committee to pay the excess amount as specified by him within one month from the date of receipt of the direction from him, and the Market Committee shall comply with such direction.] 12 [* * *]