Mandi Committee Fund

(1) All money received by the Market Committee shall be paid into a fund to be called "Market Committee Fund" and all expenses incurred by the Market Committee under or for the purposes of this Act shall be defrayed out of the said fund. Any surplus remaining with the Market Committee after meeting such expenses shall be disposed of in such manner as may be prescribed: Provided that all such sums as may be received by the Market Committee as security deposits, contributions towards provident fund or for payment in respect of any notified agricultural produce or for charges payable to weighmen, hammals and other functionaries shall not form part of the Market Committee Fund but shall be accounted for separately. (2) All money of the Market Committee Fund and other sums specified in sub-section (1) shall be deposited in a co-operative bank or if no such bank exists at the headquarters of the Market Committee, then in the Post Office Savings Bank or in such bank as may be specified as a new bank in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (No. 5 of 1970) for the time being.