Amendment status not verified — confirm the current text below against the official source.
(1) A Market Committee may, with the previous sanction of the Director/Board raise money or issue debenture required for carrying out the purposes for which it is established on the security of any property vested in it and of any fees livable by it under this Act. (2) The Committee may, for the purpose of meeting the initial expenditure on lands, buildings, staff and equipments required for establishing the market obtain a loan from the State Government or Marketing Board or other financial institution. (3) The condition subject to which money or loan under sub-section (2) shall be raised or obtained and the time within which the same shall be repayable shall be subject to the previous sanction of the State Government or the Director or the Board. Compounding of offence