(1) The Government shall as soon as may be after the commencement of this Act, by notification in the Gazette, constitute an expert committee for the purpose of recommending to the Government a fair and reasonable selling price for each forest produce.
(2) The Committee shall consist of the following members, namely:—
(a) the Agricultural Production Commissioner, ex-officio; who shall be the Chairman of the Committee;
(b) the Chief Conservator of Forests, ex-officio;
(c) the Secretary to Government, Industries Department, ex-officio;
(d) the Secretary to Government Finance Department, ex-officio;
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(e) the Director of Statistics, ex-officio;
(f) the Director, Kerala Forest Research Institute, ex-officio;
(g) the Joint Secretary to Government in charge of Forests, ex- officio; who shall be the Secretary of the Committee.
(3) The Committee shall, in making its recommendations, have regard inter alia to the following matters, namely:—
(a) the market price of the forest produce;
(b) the cost of regenerating and maintaining the forest produce in cases where regeneration is necessary after selling the forest produce; and
(c) such other matters as may be prescribed.
(4) The Committee shall follow such procedure as may be prescribed.