State · Nagaland
Section 51 of The NAGALAND AGRICULTURAL PRODUCE AND LIVESTOCK MARKETING (PROMOTION AND FACILITATION) ACT, 2020
Mode of making contract.
- (I)Subject to the provision 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 of interest in immovable property shall be executed except with the sanction of the market committee Provided that in such cases where the powers under this sub-section in respect of any matter are delegated to a sub-committee, sanction of the sub-committee shall be obtained.
- (2)Save as provided in sub-section (I ),-
- (i)the Secretary of the Market Committee may execute a contract or an agreement on behalf of the Market Committee where the amount or value of such contract or agreement does not: exceed rupees five thousand regarding matters in respect of which he is generally or specifically authorized to do so by a resolution of the Market Committee (ii) the Chairperson and the Secretary of the Market Committee, when the amount or value of such a contract or an agreement does not exceed rupees twenty thousand, depending on the class of the Market Committee as may be prescribed:
- (iii)in any case other than those referred to in clause (i) of sub-section (2). a contractor agreement on behalf of the market committee shall be executed by the Chairperson. Secretary and one other member of the Market Committee who shall have been generally or specially authorized by a resolution of the market 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-sections (1). (2) or (3) shall be valid and binding on the Market Committee.
- (5)Where a contract or agreement is entered into on behalf of a Market Committee. the