Amendment status not verified — confirm the current text below against the official source.
(1) There shall be established for each Committee, a fund to be called "Market Committee Fund" to which shall be credited all moneys received by it including all loans raised by it and advances and grants made to it. (2) all expenditure incurred by the Committee in carrying out the purposes of this Act shall be defrayed out of the said fund, and the surplus, if any, shall be invested in such manner as may be prescribed. (3) Without prejudice to the generality of the provisions contained in section 16, the Committee may utilize its funds for payment of all or any of the following (i) expenses incurred in auditing the account of the Committee ; (ii) salaries, pensions and allowances including allowances for leave, gratuities, compassionate allowance, medical aid and contributions towards provident fund and pensions of the officers and servants employed by or for it ; (iii) expenses of and incidental to elections under this Act ; [(iv) the principal amount of or interest on loans and advances referred to in clause (x) of sub-section (2) of section 16 ; (iv-a) the rent of and taxes on any land and building in possession of the Committee ;] 1 (v) expenses on collection, maintenance dissemination and supply of all such information as may be of interest to the producers and other persons engaged in sale and purchase of agricultural produce including that relating to crop statistics and market intelligence ; (vi) cost of land or buildings acquired for the purposes of this Act; (vii) cost of construction and repairs of buildings necessary for the Market Yards and for the health, convenience and safety of the persons using them ; (viii) cost of maintenance, development and improvement of the Market Yards ; 2 [(ix) expenses in providing facilities and comforts such as shelter, shed, parking accommodation and water for persons, draught cattle, pack animals and vehicles coming to the Market Area and on agricultural improvement and development of agricultural marketing in the Market Area including the construction, maintenance and repair of link roads, culverts, bridges and other such purposes ;] (x) travelling and other allowances to the members of the Market Committee ; (xi) loans and advances to the employee of the Market Committee; 3 [(xi-a) financial assistance to charitable institutions approved by the Board or recognized educational institutions, subject to a maximum of four per cent of total receipts excluding money raised under clause (v) of section 17 and grants made by Government in the previsious financial year.] (xii) such other expenses as may be prescribed ; Provided that the annual expenditure in respect of matters specified in clause (ii) shall not exceed ten per cent of the total annual receipts of the Committee, excluding loans raised by it and advances or grants made to it, except with the prior approval of the [Board] 4 .] 5 6 [Provided further that all moneys realized as additional market fee under the Uttar Pradesh Krishi Utpadan Mandi (Amendment) Ordinance, 1983 shall be utilized in the Market Area only for the purposes specified in clause (ix).] (4) [* * * * * ] 7 8 [(5) Every committee shall, out of its total receipts excluding moneys raised under clause (v) of section 17, money realized as development cess ad grants made by the State or Central Government in the financial year, keep only fifty per cent or rupees ten crore, whichever is less and transfer the remaining amount to the Board as contribution.] 9 [(6) Every Committee shall pay to the Board every month all moneys realized as development cess which shall be credited to the Central Mandi Fund established under section 26-PPP. ]