Amendment status not verified — confirm the current text below against the official source.
( 1 ) Subject to rules made in that behalf, a Market Committee may, after making such inquiries as it deems fit, grant or renew a licence for the use of any place in the market area for marketing of the agricultural produce or for operating therein as a trader, commission agent, broker, processor, weighman, measurer, surveyor, warehouseman or in any other capacity in relation to the marketing of agricultural produce; or may, after recording its reasons in writing therefor, refuse to grant or renew any such licence: 1 [Provided that, if the Market Committee fails to grant or renew or refuse a licence within a period of sixty days from the date of receipt of the application therefor, the licence shall be deemed to have been granted or renewed, as the case may be.] ( 2 ) Licences may be granted under sub-section ( 1 ) in such forms, for such periods, on such terms and conditions and restrictions (including any provisions for prohibiting brokers and commission agents from acting in any transaction both as buyer or seller, or on behalf of both the buyer and seller, and also provisions for prohibiting brokers from acting in any transaction, except between a trader and trader, in respect of agricultural produce other than poultry, cattle, sheep and goats and such other agricultural produce as may be prescribed, and for prescribing the manner in which and the places at which auctions of agricultural produce shall be conducted and the bids made and accepted and places at which weighment and delivery of agricultural produce shall be made in any market or market area) and on payment of fees, not being in excess of such maxima as may be prescribed. 2 [Provision may also be made for exempting any class of persons from payment of such fees on such terms and conditions as may be prescribed.] 3 [( 3 ) Notwithstanding anything contained in sub-sections ( 1 ) and ( 2 ), any trader who desires to operate in more than one market area, may apply to such authority or officer notified by the State Government for grant or renewal of licence with such details, as may be prescribed. Such application shall contain the names of the Agricultural Produce Market Committees in which the applicant trader wants to operate and the authority or officer granting such licence shall incorporate in the licence the names of such Agricultural Produce Market Committees in which concerned trader shall be entitled to operate. The person applying for licence to operate in more than one market area, shall be required to pay the licence fee at such rate, as may be prescribed, to the concerned authority or officer and such fee shall be shared in the manner prescribed, between such authority or, as the case may be, officer and the Marketing Committees which are covered under the said licence.] 4 [( 4 ) ( a ) Notwithstanding anything contained in sub-sections ( 1 ), ( 2 ) and ( 3 ) of this section, any person desiring to trade on Electronic trading platform shall obtain certificate of registration as a trader, from such authority as may prescribed in this behalf. (b) The application for registration under clause ( a ) shall be made online and in such manner as may be prescribed. ( c ) Digitally signed certificate of registration shall be issued by Competent Authority in the Form as may be prescribed. ( d ) Notwithstanding anything contained in clause ( a ) to ( c ) of this sub-section, the Competent Authority may, for reasons to be recorded in writing, refuse to grant or renew a certificate of registration for carrying out trade to any person, who in its opinion, is found to have acted in a manner detrimental to online trading, or, if the person has not traded for more than six months without any valid reasons, or has exhausted his dynamic cash credit limit with the bank or has failed in online payments of seller, buyer, Commission agent, supervision cost, market fee and any other payments under the Act, rules and bye-laws, if any, registration is not granted or renewed the Applicant shall be informed of the same giving the reasons therefor and the registration fee, if paid, shall be forfeited to the market fund or to the State Government, as the case may be. ( e ) The Certificate of Registration for electronic trading shall be valid in respect of the person in whose name that is issued and shall not be transferable. ( f ) Certificate of registration shall be liable for suspension or cancellation if there is- ( i ) breach of any rules meant for transparency and price discovery in a fair manner; or ( ii ) over-trading above the available cash credit limit by fraudulent means; or ( iii ) refusal or deceitfully declining making online payments on real time basis for commodity traded and other payments under the Act, rules and bye-laws. ( g ) Every certificate of registration so granted or renewed shall be in force for a period of three years from the date of granting or renewing Certificate. ( h ) Each Market Committee and Private Market having electronic trading platform shall publish the list of all the certificate of registration online for traders having registration for using E-trading platform of the market.]