Subject to such conditions and restrictions as may be prescribed, the Market Committee

as it may think fit to assign. 38. (1) The Market Committee may, with the previous sanction of the Director/

Managing Director, raise money from banks , financial institutions or issue

debentures required for carrying out the purpose for which it is established on the security of any property vested in it and of any fees/user charge leviable by it under this Act.

other financial institution.

1. (3) · The conditions subject to which money or loan under sub-section (2) shall be raised or obtained and the time within which the same shall be repayable shall

be subject to the previous sanction of the State Government, or the Director

or the Managing Director.

39. (1) The Market Committee may accept from any person who has committed or is

reasonably suspected of having committed an offence ( other than contravention

of section 59 against this Act or the Rules or Bye-laws, made thereunder by way

of compounding of such offence -

1. (a) Where the offence consists of the failure to pay or the evasion of any fee/ user charge, or other amount recoverable under this Act or the Ru!es or the

Bye- laws in addition to the fee/user charge or other amount so

recoverable a sum of money not less than the amount of the fee or ether amount and not more than five times the amount of fee or other amount to the maximum extent of rupees ten thousand.

1. (b) In other cases a sum of money not exceeding ten thousand rupees.

1. (2) On the compounding of any offence under sub-section (1), no proceer.iing shall be taken or continued against the person concerned in respect of such an

acquittal.

fee etc. therewith if in its opinion such a fee/user charge or an amount is irrecoverable: Compounding of offences. Power to remove encroachment on market yard. use of weighi:1g instruments, weight and measure, their inspection. "

exceed rupees Fifty thousand.