State Act

The Punjab Agricultural Produce Markets Act, 1961

18. Every Committee shall be a body corporate as well as a local authority by such name as the State Government may specify in the notification establishing it, shall have perpetual succession and a common seal, may sue and sued in its corporate name, and shall subject to the provisions of section 32 be competent to acquire and hold property, both movable and immovable, to lease, sell or otherwise transfer any movable or immovable property which may have become vested in or been acquired by it, and to contract and do all other things necessary for the purposes for which it is established: Provided that no Committee shall permanently transfer any immovable property except in pursuance of a resolution passed at a meeting specially convened for the purpose by a majority of not less than three-fourth of the members of the Committee and prior approval of the Chairman of the Board.