THE KARNATAKA SILKWORM SEED, COCOON AND SILK YARN (REGULATION OF PRODUCTION, SUPPLY, DISTRIBUTION AND SALE) (AMENDMENT) ACT, 2022 KARNATAKA ACT NO. 34 OF 2022 (First Published in the Karnataka Gazette Extra-ordinary on the 13th day of October, 2022) (Received the assent of the Governor on the 12th day of October, 2022) An Act further to amend the Karnataka Silkworm Seed, Cocoon and Silk Yarn (Regulation of Production, Supply, Distribution and Sale) Act, 1959. Whereas it is expedient further to amend the Karnataka Silkworm Seed, Cocoon and Silk Yarn (Regulation of Production, Supply, Distribution and Sale) Act, 1959 (Karnataka Act 5 of 1960) for the purposes hereinafter appearing; Be it enacted by the Karnataka State Legislature in the seventy third year of the Republic of India, as follows:- 1. Short title and commencement.- (1) This Act may be called the Karnataka Silkworm Seed, Cocoon and Silk Yarn (Regulation of Production, Supply, Distribution and Sale) (Amendment) Act, 2022. (2) It shall come into force at once. 2. Amendment of section 10.- In section 10 of the Karnataka Silkworm Seed, Cocoon and Silk Yarn (Regulation of Production, Supply, Distribution and Sale) Act, 1959 (Karnataka Act 5 of 1960),- (i) in the heading, for the words "of silkworm seed", the words "in the cocoon markets" shall be substituted; (ii) for sub-section (2) the following shall be substituted, namely:- "(2) All transactions involving the sale or purchase of cocoons in a cocoon market shall be by open auction or by e-auction in such manner as may be prescribed, the payment of the price shall be in cash or through electronic clearing system (ECS) or Real Time Gross settlement (RTGS) or National Electronic Fund Transfer (NEFT) as may be specified by State Government and the cocoons shall be sold by weight, as required by or under the Legal Metrology Act, 2009. (Central Act 1 of 2009) and rules made thereunder." |
