The WAREHOUSING CORPORATIONS ACT, 1962

PRELIMINARY

Section 1 — Short title, extent and commencement.

(1) This Act may be called the Warehousing Corporations Act, 1962.

(2) It extends to the whole of India [Omitted] .

(3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

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  1. 1.Short title, extent and commencement.
  2. 2.Definitions.
  3. 2A.Construction of references to any law not in force or any functionary not in existence in any State.
  4. 3.The Central Warehousing Corporation.
  5. 4.Share capital and shareholders.
  6. 5.Certain shares to be approved securities.
  7. 6.Management of Central Warehousing Corporation.
  8. 7.Directors.
  9. 8.Disqualification for office of director of the Central Warehousing Corporation.
  10. 9.Removal of directors from office.
  11. 10.Appointment of officers, etc., and their conditions of service.
  12. 11.Functions of Central Warehousing Corporation.
  13. 12.Executive Committee.
  14. 13.Meetings of the Corporation.
  15. 14.Grants and loans by the Central Government.
  16. 15.Corporation to maintain two funds.
  17. 16.Warehousing Fund.
  18. 17.General Fund.
  19. 18.State Warehousing Corporations.
  20. 19.Share capital and shareholders.
  21. 20.Management of a State Warehousing Corporation.
  22. 21.Disqualification for office of director of the Corporation.
  23. 22.Removal of directors from office.
  24. 23.Appointment of officers, etc., and their conditions of service.
  25. 24.Functions of the State Warehousing Corporation.
  26. 25.Executive Committee.
  27. 26.Submission of programme of activities and financial estimates.
  28. 27.Borrowing powers of Warehousing Corporation.
  29. 28.Deposit account.
  30. 29.Investment of funds.
  31. 30.Disposal of profits.
  32. 31.Accounts and audit of Warehousing Corporation.
  33. 31A.Returns and reports.
  34. 32.Vacancies, etc., not to invalidate acts and proceedings of Warehousing Corporations.
  35. 33.Delegation.
  36. 34.Voting rights of shareholders.
  37. 35.Disputes between Central Warehousing Corporation and State Warehousing Corporation.
  38. 36.Declaration of fidelity and secrecy.
  39. 37.Indemnity of directors.
  40. 38.Offences.
  41. 39.Provisions relating to income-tax and super-tax.
  42. 40.Winding up of Warehousing Corporations.
  43. 41.Power to make rules.
  44. 42.Power of Warehousing Corporations to make regulations.
  45. 43.Repeal and savings.
  46. SCH-THE SCHEDULE.THE SCHEDULE