Section 8. Establishment of market committees.

(1) For every market area, there shall be a market committee. Every market committee shall be a body corporate by the name of "The (name of area and commodities) Market Committee" as may be decided by the Metropolitan Authority. Every committee shall have perpetual succession and a common seal, and may by its corporate name sue and be sued and shall be competent to contract and to acquired, hold and dispose off property, both movable and immovable, and to do all other things necessary for the purposes of this Act. (2) The market committee shall be deemed to be a local authority within the meaning of the term "local authority" as defined in the Bombay General Clauses Act, 1904 (Bom. 1 of 1904).