(1) Subject to any rules made by the State Government under section 60 and with the previous sanction of the Director or any other officer specially empowered in this behalf by the State Government, the Market Committee may in respect of the market area under its management make bye-laws for determining the quantity of agricultural produce for the purpose of its retail sale for the regulation of the business (including meeting, quorum and procedure of the Market Committee), and the conditions of trading in the market area, including provision for refund of any fees levied under this Act.
(2) Any bye-law made under this section may provide that any contravention thereof shall, on conviction, be punished with fine which may extend to one hundred rupees.