Andhra Pradesh (Agricultural Produce And Livestock) Markets (Amendment) Act, 2011

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Andhra Pradesh (Agricultural Produce And Livestock) Markets (Amendment) Act, 2011
Total Sections 3
Enforcement Year 2011
State or Central State
Editor Template:USERNAME
ASSN: 133

Andhra Pradesh (Agricultural Produce And Livestock) Markets (Amendment) Act, 2011 12 of 2011 [18 April 2011] CONTENTS

1. Short Tide And Commencement 2. Amendment Of Section 2 3. Amendment Of Section 7 Andhra Pradesh (Agricultural Produce And Livestock) Markets (Amendment) Act, 2011 12 of 2011 [18 April 2011] An Act further to amend the Andhra Pradesh (Agricultural Produce and Livestock) Markets Act, 1966. Be it enacted by the Legislature of the State of Andhra Pradesh in the sixty-second year of the Republic of India as follows:1. Short Tide And Commencement : (1) This Act may be called the Andhra Pradesh (Agricultural Produce and livestock) Markets (Amendment) Act, 2011. (2) It shall come into force on such date as the State Government may, by notification, appoint. 2. Amendment Of Section 2 : In the Andhra Pradesh (Agricultural Produce and Live Stock) Markets Act, 1966 (herein after referred to as Principal Act) (Act 16 of 1966) in Section 2,(1) after clause (ii), the following clauses shall be inserted, namely. "(iia) e-market means electronic market set up either by Government or its agencies or a person for conducting trading in notified Agricultural Produce through electronic media or by any means of communication in which buying, selling, contracting and negotiating is carried out electronically through computer network/internet. (iib) e-trading means trading in which billing, booking, contracting, negotiating information, Exchange Record Keeping and other connected activities are done electronically on computer network/internet or by any means of communication; (2) after clause (xvc), the following clauses shall be inserted, namely: "(xvd) Spot Exchange means a corporate entity for trading of notified agricultural produce through electronic media, by means of communication licenced under sub-section (7) of Section 7, which provides an electronic trading platform for Spot Trading of notified Agriculture Produce; (xve) Spot Trading means trade in notified agricultural produce between seller and buyer, by an exchange, using an electronic platform; 3. Amendment Of Section 7 : In the Principal Act, in Section 7, after sub-section (7) and the proviso thereunder, the following subsection shall be added, namely: "(8) Notwithstanding anything contained in sub-sections (1) to (7), Government or the competent authority as may be declared by the Government in this behalf, may grant a licence to a person, to establish e-market in a notified area for die purpose of this Act, for e-trading under the conditions of license granted to him as per the procedure prescribed.".