42-E. Appointment of Sub-Committees. The Board may appoint sub-committees consisting of three or more of its members which shall include President or Vice - President and the Managing Director ,for the performance of any of its duties or functions or for giving advice on any matter incidental thereto and may delegate to such sub-committee any of its duties or functions as may be deemed necessary.] 

43.  State marketing development fund.- ^.[1] [ (1) Every market committee shall pay on the 10th of every  month to the Board at such percentage of its gross receipts comprising of licence fees and market fees as the State Government may, by notification, declare from time to time. The amount so paid and collected shall be called "Madhya Pradesh State Marketing  Development Fund." 

(2) All expenditures incurred by the Board, according to the budget sanctioned by it, shall be defrayed out of the said fund. 

^.[2][(3) The annual accounts and balance sheet of the Board shall be prepared by the ^.[3][Managing Director] and all moneys accruing to or received by the Board from whatever source and all amounts disbursed or paid shall be entered in the accounts. 

(4) The accounts of the Board shall be audited by the Managing Director , Local Fund Audit, Madhya Pradesh. 

(5) At the time of audit the ^.[4][Managing  Director ] shall cause to be produced all accounts, registers, documents and other relevant papers which may be called for by the audit officer for the purposes of the audit. Any explanation called for by such officer for the removal of any discrepancy shall be immediately furnished to him. 

(6)  The accounts when audited shall be printed. The copies of accounts and audit report with comments thereon shall be placed before the Board. The audit report with comments of the Board shall be submitted to the State Government. 

(7)  All moneys received into the Madhya Pradesh State Marketing Development Fund shall be deposited in a co-operative Bank or if such bank does not exist at the headquarter of the Board in post office Saving Bank or any Bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (No. 5 of 1970), as a corresponding new Bank.]

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