section 39
Purposes for which Market Fund to be expended.
The Mumbai Metropolitan Region Specified Commodities Markets (Regulation of Location) Act, 1983General198376 sections11 chapters
Chapter V MARKET FUND, FINANCE, ACCOUNTS AND AUDIT ETC.
Statutory text
- (1) The Market Fund may be expended for the following purposes, namely :-
- (a) acquisition of the site or sites for the market ;
- (b) maintenance, development and improvement of the market ;
- (c) construction of, and repairs to, the buildings necessary for the purposes of such market and for the health and safety of persons using it ;
- (d) providing common services, amenities and facilities for persons using the market ;
- (e) pay, pension, leave and other allowances, gratuities, compensations for injuries resulting from accidents, compassionate allowances and contributions towards leave allowances, pensions and provident fund of the officers and servants employed by the committee ;
- (f) payment of allowances and travelling expenses to the members of the committee, standing committee and sub-committee ;
- (g) payment of an honorarium to the Chairman and Vice-Chairman ;
- (h) payment of interest on loan, if any, raised by the committee and the provision for sinking fund for such loan ;
- (i) collection and dissemination of information in respect of production, sale, purchase, storage, processing, prices and movement of commodities ;
- (j) cost of audit, if any, incurred under section 42 ;
- (k) carrying out other functions laid down by or under this Act ;
- (l) for any other purpose, with the previous approval of the State Government.
- (2) It shall be lawful for the committee also to incur, with the previous approval of the State Government, expenditure on works of installations outside the market yard, provided such a proposal is in furtherance of the object of giving effect to any provisions of this Act and is approved by one half of the total number of members of the committee.
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