Constitution of Market Committee

(1) For every market area, there shall be a Market Committee havinq jurisdiction over the entire market area. (2) Every Market Committee shall be a body Corporate Committee and by such name as the State Government or the Director may, by notification, specify. It shall have perpetual succession and a common seal and may sue and be sued in its corporate name and shall subject to such restrictions as are imposed by or under this Act, be competent to conduct and to acquire, hold, lease, sell or otherwise transfer any property and to do all other things necessary for the purpose for which it is established: Provided that no immovable property 'shall be acquired or transferred by way of sale, lease or otherwise without the prior permission of the Director/ Managing Director. (3) Notwithstanding anything contained in any enactment for the time being in force, every Market Committee shall for all purposes, be deemed to be a Local authority.