This Act provides for the declaration of notified areas to regulate the purchase and sale of agricultural produce, livestock and livestock products in the State of Telangana. The Government shall constitute a market committee for every notified area and each committee shall establish notified market areas. The Act defines the internal organization of the market committees and their objectives which shall include the management of the markets in regulating the trade of notified agricultural produce. The committees shall be empowered to: issue licences to persons trading in notified agricultural commodities and who shall make their transactions only in the notified markets; and levy market fees from the purchasers of agricultural commodities. Market fees and licence fees shall be the major sources of income of market committees. The Act also dictates laws on contract farming in the State and provides that contract farming agreements must be registered with the market committee. Moreover, disputes arising out of contract farming agreements may be resolved by officers of the market committee.
الهند · 1966-01-01