Section 7(2) in The Jammu and Kashmir State Agricultural Produce Marketing (Regulation) Act, 1997
(2)When during the term of a market committee the market area for which it is established is divided into two or more separate market areas, the following consequences shall ensure :-(i)the market committee constituted for the area under this Act- shall be deemed to have been dissolved and the Government or the Director shall constitute a separate market committee under section 13 for each of separate market areas subject to such conditions as may be prescribed;(ii)the term of office of the newly constituted committees shall be the same as is applicable to the first market committee under sub-section (1) of section 13;(iii)the assets, rights and labilities of the dissolved market committee shall be distributed by the Government or the Director between the new market committees in accordance with such rules as may be prescribed;(iv)any appointment, notification, notice, fee, order, scheme, licence, permission, bye-laws or form made, issued or imposed by the market committee which has been dissolved, in respect of any part of the area subject to the authority of the new market committees shall be deemed to have been made, issued or imposed by such market committee concerned unless and until it is superseded.
