Amendment status not verified — confirm the current text below against the official source.
(1) The first meeting of the Market Committee shall be convened by the Collector within one month from the date of publication of result of election of and members in the official gazette. (2) The Chairman, Vice Chairman and members of the Mai-ket Committee shall hold office for a period of their five years from the date of the first meeting of Market Committee provided that if on the expiry of the term of the Market Committee, a new Market Committee is not constituted the Market Committee shall be deemed to have been dissolved and in such an event the provisions of Section 13 shall apply. (3) The Chairman, Vice Chairman or a member may resign his office at any time in writing addressed to the Collector and such resignation shall be effective from the date of its acceptance by the Collector. (4) Any person who is elected as a Chairperson or Vice Chairperson of a Municipal Corporation, Municipal Council, Nagar Panchayat, Panchayat or Cooperative Society is elected as Chairperson or Vice Chairperson of the Market Committee or vice versa may, by notice in writing signed by him and delivered to the Collector prescribed authority within thirty days from the date. or the later of the dates, on which he is elected, intimate in which of the office he wishes to serve, and thereupon, his seats in the body in which he does not wish to serve, shall become vacant and in default of such intimation within the aforesaid period, his seat in the Market Committee shall, on the expiration of that period, become vacant. (5) In the event of death, resignation, or removal of the Chairman. Vice Chairman or a Member before the expiry of his term or on the occurrence of a vacancy under sub-section (4), or otherwise, a casual vacancy shall be deemed to have occurred in such office and such vacancy shall be filled within six months by election in accordance with the provisions of the Act and the Rules and a person so elected or nominated shall hold office for the unexpired portion of the term of his predecessor: Provided that if the remaining term of the office is less than six months, such vacancies shall not be filled in. (6) In the event of occurrence of any vacancy in the office of the Chairman by reason of his death, resignation or removal or otherwise the Vice Chairman and if the office-of the Vice Chairman is also vacant then notwithstanding anything contained in this Act, such a member of the Market Committee who is elected under clause (I) of sub-section (1), of Section 14, as the Collector may appoint shall exercise powers and perform the functions of the Chairman till the Chairman is duly elected.