The Borough Council of Wellingborough is consulting on its Market Rights Policy.
This sets out an application process for anyone wishing to hold a market within a 6.6 mile radius of the town centre market on Orient Way.
The policy applies to all indoor and outdoor market events of five stalls or more, including car boot sales, antique and craft markets, farmer’s markets and charity markets.
However markets organised by community groups and organisations for the purpose of raising funds for charity or celebrating a special event are exempt.
Under the terms of an ancient charter issued by King John in 1201AD, the council has exclusive rights to conduct a market on the market square each Wednesday and the ability to oversee other markets held within 6.6 miles of the square on any day.
Councillor Graham Lawman, chairman of the Market Working Party said: “Wellingborough Market represents an important investment by the council in delivering economic regeneration and town centre vitality and variety, as well as enhancing the character of the area.
“The policy has been put in place to preserve the market, which is also held every Tuesday, Friday and Saturday and recognise the important role it plays in the local economy.
“The council is keen to maintain the balance of markets throughout the borough and ensure consistency in the way markets are organised.”
The consultation runs until 1 September at 5pm and the policy is available to view at the council’s Swanspool House Offices in Doddington Road, in Wellingborough Library and online.