^[1][57-A. Power of State Government to postpone elections.- ^[2] [(1) If the State Government is of the opinion that circumstances exist which render it necessary, so to do, the State Government may, notwithstanding anything contained in this Act or the rules made thereunder ,by notification, for reasons to be specified therein, postpone from time to time, the election of members  of a Market Committee under sub-section (1) of section 11, for such period not exceeding one year at a time as may be specified in such notification provided that the total period shall not exceed ^[3][three years and six months] in the aggregate. 

(2)  On issue of the notification under sub-section (1), following consequences  shall ensue ,namely:--

                        (a)  no election shall be held during the period specified in the notification ;

(b)  the election proceedings at whatever stage they may be shall stand abrogated; and

(c)  the deposits made by the candidates for the election as member shall be refunded to them.]

  ^[4][Explanation. - For the purposes of this sub-section "election proceedings" means the process commencing from the date calling upon the constituencies to elect and ending with the declaration of the result of the election.] 

58.  Liability  of Chairman, Vice-Chairman, members and employees for loss, waste or misapplication etc.- (1) If, in the course of inquiry or inspection under section 54 or in the course of audit under this Act it is found that any person who is or was entrusted with the management of a market committee or ^[5][any deceased, past or present Chairman, Vice-Chairman, member, Officer-in-Charge of market committee, Secretary or any other officer or employee ,of market committee or an officer of the State Government] has made or directed by assenting or concurring or participating in any affirmative vote or proceeding related thereto, any payment or application of any money or other property belonging to or under the control of , such committee to any purpose contrary to the provisions of this Act or rule or bye-laws made thereunder  or has caused any defiency or loss by gross negligence or misconduct or has misappropriated or fraudulently retained any money or other property  belonging to the Market Committee, the Managing Director may, on his own motion or on the application of the Market Committee, enquire himself or direct any  officer subordinate to him duly authorised by him by an order in writing in this behalf to enquire into the conduct of such person ^[6][within two years of the date of report of audit, enquiry or inspection, as the case may be].

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