Marketing Board fund.

General200786 sections12 chapters

Chapter VI Chapter VI

Statutory text

(1) Save as provided in sub-section (2), all moneys received by the Marketing Board shall be paid into a fund to be called 'the Marketing Board fund’ and all expenditure incurred by the Marketing Board under or for the purposes of this Act shall be defrayed out of the said fund. Any surplus remaining with the Marketing Board after meeting such expenditure shall be invested in such manner as may be prescribed. Any money received by the Marketing Board by way of arbitration fee or as a security for costs in arbitration proceedings relating to the disputes or any money received by the Board by way of security deposit, contribution to Provident Fund or for payment in respect of any notified agricultural produce or charges payable to weighman, hamal and other functionaries and such other money received by the Marketing Board as may be provided in the rules or bye-laws shall not form part of the Marketing Board fund and shall be kept in such manner as may be prescribed.
(2) Save as otherwise provided in this Act, the amount to the credit of the Marketing Board fund as also other money received by the Marketing Board shall be kept in a scheduled co-operative bank or in a Nationalized Bank or in Post Office Saving Bank or in any other mode with the approval of the State Marketing Officer.

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