Section 43 in The M.P. Krishi Upaj Mandi Adhiniyam, 1972
43. State Marketing Development Fund.
- [(1) Every Market Committee shall pay on the 10th day of every month to the Board at such percentage of its gross receipts comprising of licence fees and market fees as the State Government may, by notification, declare from time to time. The amount so paid and collected shall be called "Madhya Pradesh State Marketing Development Fund".] [[Substituted by M.P. Act No. 21 of 2000 (w.e.f. 5-2-2000). Prior to substitution it read as under :'(1) Every Market Committee shall pay every three months to the Board such percentage, not exceeding fifty percent, of its gross receipts comprising of licence fees and market fees as the State Government may, by notification, declare, from time to time. The amount so paid and collected shall be called 'Madhya Pradesh State Marketing Development Fund'.']](2)All expenditures incurred by the Board, according to the budget sanctioned by it, shall be defrayed out of the said fund.(3)[ The annual accounts and balance sheet of the Board shall be prepared by [the Managing Director] [Inserted by M.P. Act No. 18 of 1979 (w.e.f. 7-6-1979).] and all moneys accruing to or received by the Board from whatever source and all amounts disbursed or paid shall be entered in the accounts.(4)The accounts of the Board shall be audited by the [Managing Director,] [Substituted by M.P. Act No. 27 of 1997 (w.e.f. 15-6-1997).] Local Fund Audit, Madhya Pradesh.(5)At the time of audit [the Managing Director] [Substituted by M.P. Act No. 27 of 1997 (w.e.f. 15-6-1997).] shall cause to be produced all accounts, registers, documents and other relevant papers which may be called for by the audit officer for the purposes of the audit. Any explanation called for by such officer for the removal of any discrepancy shall be immediately furnished to him.(6)The accounts when audited shall be printed. The copies of accounts and audit report with comments thereon shall be placed before the Board. The audit report with comments of the Board shall be submitted to the State Government.(7)All moneys received into the Madhya Pradesh State Marketing Development Fund shall be deposited in a Co-operative Bank or if such bank does not exist at the headquarter of the Board in Post Office Savings Bank or any Bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (No. 5 of 1970), as a corresponding new Bank.]
