Amendment status not verified — confirm the current text below against the official source.
(1) If in the opinion of the State Government it is necessary so to do for the efficient regulation of markets in any area, the State Government may direct the market committee having jurisdiction over such area to establish one or more markets in such area. (2) Where the State Government directs a market committee to establish any market, the State Government may acquire any land which, in its opinion, is needed for !1894. the purposes of such market under the provisions of the Land Acquisition Act, 1894, or any other corresponding law for the time being in force. (3) Any land acquired under sub-section (2) shall be transferred by the State Government to the market com- mittee on payment by the market committee of the compen- sation awarded in accordance with the law under which such land is acquired and of all other charges incurred by the State Government on account of the acquisition, within such period and in such manner as the State Government may, by order, determine and on being so transferred, such land shall vest in the market committee. (4) A market committee shall maintain and manage any market established by it under this section in accordance with such directions as the Director, in Calcutta and, in any other place, the District Magistrate may, from lime to time, issue in this behalf.