Section 49 in H.P. Agricultural and Horticultural Produce Marketing (Development And Regulation) Act, 2005
49. Committee fund.
(1)Save as provided in sub-section (2) all moneys received by a Committee shall be paid into a fund to be called "the committee fund" and all expenditure incurred by the Committee under or for the purposes of this Act shall be defrayed out of the said fund. Any surplus remaining with the Committee after such expenditure has been met, shall be invested in such manner as may be prescribed.(2)Any money received by the Committee by way of arbitration fee or as security for costs in arbitration proceedings relating to disputes or any money received by the Committee by way of security deposit, contribution to provident fund or for payment in respect of any notified agricultural produce, or other charges payable by the Committee or such other money received by the Committee as may be provided in the rules or bye-laws, shall not form part of the Committee Fund, and shall be kept in such manner as may be prescribed.(3)Every Committee, out of its fund, shall pay to the Board, 25 percent of the total market fee collected under section 44 during the year, to meet the expenses of establishment of the Board and expenses incurred in execution of the functions assigned to the Board under this Act.(4)All money and receipts specified in this section and forming part of the fund of the Committee shall be deposited in any Nationalized Bank or any other Bank having National Computerized Network or in the Himachal Pradesh State Co-Operative Bank.(5)The Secretary of the Committee shall be the Head of office and shall exercise such financial powers as have been conferred under the Financial Rules of the State Government on the Head of office.
