Regulation of wholesale transactions

(1) From such date as the State Government may, by notification, appoint in this behalf, there shall be established a Board for the State of Madhya Pradesh to be called the Madhya Pradesh State Agricultural Marketing Board. (2) The Board shall be a body corporate, shall have perpetual succession and a common seal, and shall may sue and be sued in its corporate name and shall be competent to acquire and hold property, to lease, sell or otherwise transfer any property and to contract and to perform all other matters necessary for the purposes of this Act.