Amendment status not verified — confirm the current text below against the official source.
(1) A market committee may, with the previous sanction of the Government, raise the money required for carrying out the purposes for which it is constituted on the security of any property belonging to it and of any fees leviable by it under this Act. A market committee may, for the purpose of meeting the initial expenditure on lands, buildings and equipment required for establishing the market, obtain a loan from the Government. (2) The conditions under which such money or loan shall be raised and the time within which the same shall be repayable shall be subject to the previous sanction of the Government.