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[Cites 0, Cited by 0] [Section 3(9)] [Section 3] [Entire Act]

State of Madhya Pradesh - Subsection

Section 3(9)(i) in The M.P. Van Upaj other than Timber (Vyapar Viniyaman) Niyam, 1969

(i)The agent so appointed for a particular unit shall, before signing the agreement, deposit, as security for the proper execution and performance of the agency in accordance with the terms and conditions of the agreement and the provisions of the Act and these rules, a minimum sum to be specified in the agency notice. In the event of the agent being not able to deposit the aforesaid amount of security, any other person may be allowed to deposit the said amount on his behalf, subject however, to the condition that the amount so deposited as security by him shall, for the purposes of these rules and the agreement, be subject to the same terms and condition as if such amount is deposited by the agent himself.