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Section 59: Payment to the sellers and maintenance of accounts.

The Meghalaya State Agricultural Produce and Livestock Marketing (Promotion and Facilitation) Act, 2020 (Act No. 9 of 2020)State Act of Meghalaya · Act 9 of 2020

(1) Notwithstanding anything contained in this Act, payment of notified agricultural produce including livestock traded on electronic platform shall be made same day of the sale transaction to the seller or in the maximum next day, if procedurally so required. In procedural exigencies on electronic trading, the payment to the seller may be made as prescribed in Rules and Byelaws.

(2) The licensee or APLMC, as the case may be, shall maintain accounts of all the transactions taken place on electronic platform and submit such periodical reports and returns to the Managing Director or the authorized Officer, at such time and in such forms, as may be specified by the competent authority, from time to time.

Where this provision sits

ActThe Meghalaya State Agricultural Produce and Livestock Marketing (Promotion and Facilitation) Act, 2020 (Act No. 9 of 2020)
Section59
Marginal notePayment to the sellers and maintenance of accounts.
JurisdictionState of Meghalaya
StatusIn force as published by the source

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