A local authority may—
establish a market within their area;
acquire by agreement (but not otherwise), either by purchase or on lease, the whole or any part of an existing market undertaking within their area, and any rights enjoyed by any person within their area in respect of a market and of tolls,
a market place with convenient approaches to it;
a market house and other buildings convenient for the holding of a market.
and, in either case, may provide—
A market shall not be established in pursuance of this section so as to interfere with any rights, powers or privileges enjoyed within the authority's area in respect of a market by any person, without that person's consent.
For the purposes of subsection (2), a local authority shall not be regarded as enjoying any rights, powers or privileges within another local authority's area by reason only of the fact that they maintain within their own area a market which has been established under paragraph (a) of subsection (1) or under the corresponding provision of any earlier enactment