Purposes for which the market fund shall be expended

Subject to the provisions of sections 91 and 92 and the other provisions of this Act, the rules and the bye- laws, the market committee fund shall be expended for meeting the expenses relating to,- (i) the obligatory and discretionary duties and functions of the market committee under this Act; (ii) the pay, leave allowances, pensions, gratuities and provident fund of the officers and servants employed by it. (iii) the payment of interest on the loans,if any, raised by the market committee and the provision of sinking funds in respect of such loans; (iv) payment of honorarium, allowances and travelling allowances to the Chairman, Vice-Chairman and other members of market committee; (v) payment of fees and travelling allowances of arbitrators appointed under section 1[and the members of the Advisory Committee appointed under section 42] ; and (vi) any other purpose within the scope of this Act as may be prescribed in the bye- laws. 1. Inserted by Act 17 of 1980 w.e.f. 3.11.1979

1. (i) the obligatory and discretionary duties and functions of the market committee under this Act;
2. (ii) the pay, leave allowances, pensions, gratuities and provident fund of the officers and servants employed by it.
3. (iii) the payment of interest on the loans,if any, raised by the market committee and the provision of sinking funds in respect of such loans;
4. (iv) payment of honorarium, allowances and travelling allowances to the Chairman, Vice-Chairman and other members of market committee;
5. (v) payment of fees and travelling allowances of arbitrators appointed under section 1[and the members of the Advisory Committee appointed under section 42] ; and
6. (vi) any other purpose within the scope of this Act as may be prescribed in the bye- laws.

¹ Inserted by Act 17 of 1980 w.e.f. 3.11.1979