Payment of compensation in respect of markets in municipalities and in areas within jurisdiction of other local authorities

General196637 sections

Statutory text

(1) Where in pursuance of section 3, the Government notify any area comprised within the local limits of the jurisdiction of a municipality or other local authority, no such municipality or other local authority shall levy any fees on any notified agricultural produce, livestock or products of livestock purchased or sold in the notified area.
(2) The market committee of the notified area shall out of its funds, pay every year to the municipality or other local authority, which was levying such fees immediately before the notification of the area, a sum equivalent to the licences fees levied by such municipality or other local authority during the period of one year immediately before the notification of the area, for a period of ten yeas as compensation for the loss of income of the municipality or the local authority on account of the establishment of markets in the area by the market committee.

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