Section 77 in The Jharkhand Agricultural Produce Markets Rules, 2000
77. Permanent Fund.
- (i) The surplus amount of the Market Committee Fund, at the close of each year shall be credited to the permanent fund of the Market Committee within three months of the close of the year and it shall be used only towards incurring the expenses of a permanent nature such as the construction of buildings, acquisition or purchase of sites or for such other purpose as the Board may specify.(ii)The Market Committee may invest or deposit funds-(a)in the savings account with any nationalised bank or Post-office or in form of National Savings Certificate;(b)in any of the securities specified in section 20 of the Indian Trusts Act, 1882 (II of 1882) provided that no investment shall be made on the mortgage of immovable property.(iii)With any bank, amount so invested including the interest thereon may be withdrawn after approval of the Board or the officer authorised by it.
