Amendment status not verified — confirm the current text below against the official source.
Upon publication of the notification superseding a Market Committee under section 92, the following consequences shall ensue- (i) all the members including the Chairman, Vice- committee chairman of the Market Committee shall, as from the date of publication of the notification is deemed to have vacated their offices; (ii) The State Government/Director / Managing Director shall direct that steps be taking for constitution of a new Market Committee under Section 14 and till such time a new Market Committee under Section 14 is constituted as aforesaid, the Director /Managing Director shall make such arrangements for carrying out the functions of the Market Committee as it may deem fit for the period not exceeding six months and may, for that purpose, direct that all the functions, powers and duties of the Market Committee and its Chairman, under this Act, shall be performed, exercised and discharged by such person or authority as the Director/Managing Director may appoint in this behalf and such person or authority shall be deemed to be the Market Committee or Chairman, as the case may be.