Acquisition of rights of private persons to hold private markets

Acquisition of rights of private persons to hold private markets.—

1. (1) A Municipality may acquire the right of any person to hold a private market in any place and to levy fee therein and where the right to hold the market is acquired during the currency of a licence issued to such person, he shall be paid compensation for the unexpired period of the licence calculated on the basis of the profit he would have derived from the market, had his right to hold the market been not acquired.
2. (2) On such acquisition under sub-section (1), the rights of the person to hold the private market and to levy fees therein shall vest in the Municipality,