Section 7 in The M.P. Krishi Upaj Mandi Adhiniyam, 1972
7. Establishment of Market Committee and its incorporation.
(1)For every market area, there shall be a Market Committee having jurisdiction over the entire market area.(2)[Every Market Committee shall be a body corporate by the name specified in the notification under Section 4.] [Substituted by M.P. Act No. 18 of 1979 (w.e.f. 7-6-1979).] It shall have perpetual succession and a common seal and may sue and be sued in its corporate name and shall subject to such restrictions as are imposed by or under this Act, be competent to contract and to acquire, hold, lease, sell or otherwise transfer any property and to do all other things necessary for the purposes of this Act :[Provided that no immovable property shall be acquired without the prior permission of the Managing Director in writing :Provided further that no immovable property shall be transferred by way of sale, lease or otherwise in a manner other than the manner prescribed in the rules made by the State Government for the purpose.] [[Substituted by M.P. Act No. 15 of 2003 (w.e.f. 15-6-2003). Prior to substitution it read as under :'Provided that no immovable property shall be acquired, transferred by way of sale, lease or otherwise without the prior permission of the Managing Director in writing.']](3)Notwithstanding anything contained in any enactment for the time being in force, every Market Committee shall, for all purposes, be deemed to by a local authority.
