Amendment status not verified — confirm the current text below against the official source.
(1) Every Market Committee shall have a Chief Executive Officer who shall be the chief executive of the market and the custodian of all the records and properties of the market and shall exercise and perform the following powers and duties in addition to such other duties as may be specified in this Act, the Rules or Bye- Laws, namely.- (i) convene the meetings of the Market Committee and of tile sub-committees, if any, and maintain minutes of the proceedings thereof; (ii) attend the meetings of the Mat'ket Committee and of every sub-committee and take part in the discussions but shall not move any resolution or vote at any such meeting; (iii) take action to give effect to the resolution of the committee and of the sub- committees, and report about all actions taken in pursuance of such resolution to the committee as soon as possible; (iv) prepare the budget proposal; (v) furnish to the Market Committee such returns, statements, estimates, statistics and reports as the Market Committee may from time to time, require including reports; (a) regarding the fines and penalties levied on and any disciplinary action taken against the members of the staff and the market functionaries and others; (b) regarding over-trading by traders; (c) regarding contravention of the Act, the rules, the Bye-laws of the standing orders by any person; -25- Appointment of Staff by Market Committee (d) regarding the suspension or cancellation of license by the Chairman or the Director; (e) regarding the administration of the Market Committee and the regulation of the marketing; (vi) produce before the committee such documents, books, registers and the likes as may be necessary for the transaction of the business of the committee or the sub-Committee, and also whenever called upon by the Market Committee to do so; (vii) exercise supervision and control over the acts of all officers and servants of the committee; (viii)collect fees and other money livable by or due to the Market Committee; (ix) be responsible for all moneys credited to or received on behalf of the Market Committee; (x) make disbursements of all moneys lawfully payable by the Market Committee; (xi) report to the Chairman and Director or Managing Director as soon as possible in respect of fraud, embezzlement, theft or loss of Market Committee fund or property; (xii) prefer complaints in respect of prosecutions to be launched on behalf of the Market Committee and conduct proceedings, civil or criminal, on behalf of the Market Committee. (2) The Chief Executive Officer shall be appointed by the Market Committee from the panel maintained by the Director/ Board. The Director/ Board shall draw upon such panel of the candidates which may include professionals from open market to be appointed as Chief Executive Officers as may be prescribed. Director/ Managing Director shall have powers to appoint Chief Executive Officer from the services of the State Government !Board and such appointments shall be binding on the Market Committee.