Denotification of a market area and its consequences.- (1)

Government may by notification declare that a market area shall from a date to be specified in the notification, cease to be a market area.

1. (2) When any area ceases to be a market area under sub-section (1), the market committee constituted therefor shall cease to exist, and the property and rights vested in any such market committee shall subject to all charges and liabilities affecting the same, 2[vest in such neighbouring market committee as the State Government may, by order, specify.]
2. (3) Where any such area is included in two or more other market areas, the State Government shall, by order, direct that such property, right, charges and liabilities shall vest in the market committees of such areas in such manner and in such proportions as may be specified in such order.

¹ Omitted by Act 4 of 1982 w.e.f.4.11.1981.

² Substituted by Act 23 of 2007 w.e.f. 16.8.2007.