Amendment status not verified — confirm the current text below against the official source.
(1) On the nomination or election of the President, the out-going Refusal to President shall forthwith handover charge of his office to the successor- handover in-office. charge to new Presi- dent. (2) If the out-going President fails or refuses to hand over charges of his office as required under Sub-section ( I ) , the Director or any person authorised by the Director in this behalf may, by order in writing, direct such president to forthwith handover charge of his office to the successor-in-office together with all records, fund and property of the Market Committee, if any, in his possession as such President. (3) If the out-going President to whom a direction has been issued under sub-section (2) does not comply with such direction, the Director or any other person authorised by him in this behalf may apply to the Executive Magistrate, within the local limits of whose jurisdiction the Market Committee is functioning, for seizing and taking possession of the records, funds and property of the Market Committee in the possession of such President and handing over possession thereof to the successor-in-office. (4) On receipt of an application.under sub-section ( 3) the Executive Magistrate may authorise any police officer, not below the rank of a Sub- lnspector to enter and search any place where the records , fund and property are kept or are likely to be kept and to seize them and to hand-over possession thereof to the person specified in such application. (5) The provisions of the Code of Criminal Procedure 1973 shall apply to every search and seizure made under this Act.