Amendment status not verified — confirm the current text below against the official source.
Market Board Fund.- (1) All moneys received by the Board shall be paid into a fund to be called "Market Board Fund". all expenditure incurred by the Board under or for the purposes of this Act, shall be defrayed from out of such Fund and any surplus remaining after such expenditure has been met, shall be invested in such manner as may be prescribed. (2) Every market committee shall pay to the Board as contribution such percentage of its receipts derived from licence fee and fee levied under sub- section (1) of section 24 in such manner, as may be prescribed. (3) The Board shall, in addition to the amounts payable under sub- section (6) of section 37, out of the Market Board Fund, pay to the Government the cost of any special or additional staff employed by the Government in consultation with the Board for giving effect to the provisions of this Act and the rules made under this Act. (4) The Market Board Fund shall be expended for the following other purposes, namely :- (a) administrative expenditure of the Board ; (b) payment of travelling and other allowances to the President, Vice- President and members of members of the Board as may be prescribed ; (c) loans and advances to the officers and servants in the employment of the Board ; (d) payment towards insurance premium ; (f) provision of sinking fund and reserve fund ; (g) contributions and transfer of funds towards the Market Development Fund ; and (h) such other purposes as the Government may, by general or special order, specify in this behalf.