Section 29 in West Bengal Agricultural Produce Marketing (Regulation) Rules, 1982
29. Market Committee Fund
. (1)-All money accruing or payable to the market committee fund shall be deposited to the credit of an account of the market committee fund to be maintained with such nationalised or co-operative bank or banks as may be approved by the market committee :Provided that an impressed cash balance not exceeding five hundred n.. pees may be kept at the office of the market committee at the custody of the Secretary or any other officer of the market committee to meet petty expenses :Provided fUrther that when payments have already been received to the credit of the market committee fund but the market committee has not taken any decision as to the bank with which the account of the fund shall be maintained, the Chairman and the Secretary of the market committee shall open an account with the local branch of the State Bank of India or, if no such branch is available, with the nearest branch of any nationalised bank, subject to approval at a subsequent meeting of the market committee.(2)The bank or banks and the names of branches thereof with which accounts of the market committee fund are maintained shall be reported by the Secretary to the Director and the Board as soon as the accounts are opened and a similar report shall be sent in case of transfer or closure of the accounts.(3)The market committee may, with the sanction of the Board, invest it surplus Funds in the Government Savings Bank or in any other security specified in section 20 of the Indian Trusts Act, 1882 (2 of 1882) and in Government Savings Certificates.(4)The Pass Book or Pass Books shall be got updated at least once a month by the Secretary from the banks concerned.
