(1) This Act may be called the Mumbai Metropolitan Region Specified Commodities Markets (Regulation of Location) (Enactment of bye-laws with retrospective effect to provide for levy and collection of the Registration fee and Market fee and Validation and Continuance) Act, 1997.
The following bye-laws to provide for levy and collection of the registration fee and the market fee for common services, amenities and facilities provided or arranged within the area of the Bombay Metropolitan Region Iron and Steel Market Committee, Kalamboli, Navi Mumbai (hereinafter referred to as "the said Market Committee") and the market yard, during the period commencing on the 1st February 1988, and ending on the 23rd April 1995, shall be deemed to be duly and validly made by the said Market Committee under section 69 read with sub-section (3) of section 5 and section 34 of the Mumbai Metropolitan Region Specified Commodities Markets (Regulation of Location) Act, 1983 (Mah. XLII of 1983), on the 1st February 1988, namely :-
| Serial Number | Area | Market Fee Per Square Meter | |
| 1 | Upto 5,000 Square metres | .. .. | Rupees 9.00 |
| 2 | 5,001 to 1,00,000 Square metres | .. .. | Rupees 7.50 |
| 3 | 1,00,001 Square metres and above | .. .. | Rupees 6.00 |
Notwithstanding anything contained in the Mumbai Metropolitan Specified Commodities Markets (Regulation of Location) Act, 1983 (Mah. XLII of 1983) or in any judgement decree or order of any court, any registration fee or market fee levied and collected including any action (taken or things done) in pursuance of such levy and collection, by the said Market Committee acting or purporting to act under the provisions of the said Act, during the period commencing on the 1st February 1988 and ending on the 23rd April 1995, in so far as it is in accordance with the bye-laws 3 and 4 of the bye-laws made under section 2 of this Act, shall be deemed to be and shall be deemed always to have been, validly levied and collected in accordance with law as if the said bye-laws 3 and 4 had been continuously in force at all material times and accordingly,-
(1) The Bombay Metropolitan Region Specified Commodities Markets (Regulation of Location) (Enactment of bye-laws with retrospective effect to provide for levy and collection of Registration fee and Market fee and Validation and Continuance) Ordinance, 1997 (Mah. Ord. III of 1997) is hereby repealed.