State · Nagaland

Section 113 of The NAGALAND AGRICULTURAL PRODUCE AND LIVESTOCK MARKETING (PROMOTION AND FACILITATION) ACT, 2020

All payments incurred by the Board shall be defrayed out of the Marketing Development Fund.

Contribution towards "Marketing Development Fund". Every Market Committee shall pay to Marketing Development Fund" maintained by the Board in percentage, as may be prescribed by the Board, of its income derived from licence fees and market fees, as may be prescribed, to meet the expenses of establishment of the Board and expenses incurred in execution of the functions assigned to the Board under this Act. 114. Borrowing by issue of bonds or stocks. The Board rnay, for carrying out the provisions of this Act, borrow money from the Government! Administration or may with the previous approval of the Government-

(i)from any other agency; or
(ii)issue debentures on the authority oI'any properly vested in it or on the security of a part of its future income accruing to it under this Act or the Rules made thereunder.

AI notes for this section are being prepared — this page will update on its own once they’re ready.

112PreviousSection 112 Marketing Development Fund."114NextSection 114 and expenses incurred in execution of the functions assigned to the Board under this Act.