Section 29 in The Jammu and Kashmir State Agricultural Produce Marketing (Regulation) Act, 1997
29. Mode of making contract.
(1)Subject to the provisions of this Act, no contract or agreement on behalf of the market committee for the purchase, sale, lease, mortgage or other transfer of, or acquisition, interest in immovable property shall be executed except with the sanction of the market committee :Provided that in case where the powers under this sub-section in respect of any matter are delegated to a sub-committee, sanction of sub-committee shall be obtained.(2)Save as provided in sub-section (1). -(a)The Secretary of the market committee may execute an agreement on behalf of the market committee where the amount of value of such contract or agreement does not exceed rupees five thousand regarding matters in respect of which he is generally or specifically authorised to do so by a resolution of the market committee.(b)the Chairman and the Secretary of the market committee may jointly execute contract or agreement on the behalf of the market committee when the amount or value of such contract or agreement does not exceed rupees twenty thousand depending on the class of the market committee.(c)in any case other than those referred to in clauses (a) and (b), a contract or agreement on behalf of the market committee shall be executed by the Chairman, the Secretary and one other member of the market committee who shall have been generally or specially authorized by a resolution of the committee to do so.(3)Every contract entered into by the market committee shall be in writing and shall be signed on behalf of the market committee by the person or persons authorized to do so under sub-section (2).(4)No contract other than a contract executed as provided in sub-section (1), (2) or (3) shall be valid or binding on the market committee.(5)Notwithstanding anything contained in the Registration Act, Samvat 1977 it shall be not be necessary for the Chairman or any Member or officer or Secretary of market committee to appear in person or by agent at any registration office in any proceeding connected with the registration office in any instrument executed by him in his official capacity or to sign as provided in section 50 of that Act.(6)Where any instrument is so executed, the registration officer to whom such instrument is presented for registration may, if he thinks fit, refer to such Chairman, Member, Officer or Secretary for furnishing information respecting the same and shall on being satisfied of the execution there of, register, the instrument.(7)Where a contract or agreement is entered into on behalf of a market committee, the Secretary of the market committee shall report the fact to the market committee at its meeting convened and held immediately following the date of entering into such contract or agreement.
