THE WAREHOUSING CORPORATIONS ACT, 1962

ACT NO. 58 OF 1962 · Enacted [19th December, 1962.] · 45 sections

PRELIMINARY

Section 1.Short title, extent and commencement.

Section 2.Definitions.

Section 2A.Construction of references to any law not in force or any functionary not in existence in any State.

THE CENTRAL WAREHOUSING CORPORATION

Section 3.The Central Warehousing Corporation.

Section 4.Share capital and shareholders.

Section 5.Certain shares to be approved securities.

Section 6.Management of Central Warehousing Corporation.

Section 7.Directors.

Section 8.Disqualification for office of director of the Central Warehousing Corporation.

Section 9.Removal of directors from office.

Section 10.Appointment of officers, etc., and their conditions of service.

Section 11.Functions of Central Warehousing Corporation.

Section 12.Executive Committee.

Section 13.Meetings of the Corporation.

Section 14.Grants and loans by the Central Government.

Section 15.Corporation to maintain two funds.

Section 16.Warehousing Fund.

Section 17.General Fund.

STATE WAREHOUSING CORPORATIONS

Section 18.State Warehousing Corporations.

Section 19.Share capital and shareholders.

Section 20.Management of a State Warehousing Corporation.

Section 21.Disqualification for office of director of the Corporation.

Section 22.Removal of directors from office.

Section 23.Appointment of officers, etc., and their conditions of service.

Section 24.Functions of the State Warehousing Corporation.

Section 25.Executive Committee.

FINANCE, ACCOUNTS AND AUDIT

Section 26.Submission of programme of activities and financial estimates.

Section 27.Borrowing powers of Warehousing Corporation.

Section 28.Deposit account.

Section 29.Investment of funds.

Section 30.Disposal of profits.

Section 31.Accounts and audit of Warehousing Corporation.

Section 31A.Returns and reports.

MISCELLANEOUS

Section 32.Vacancies, etc., not to invalidate acts and proceedings of Warehousing Corporations.

Section 33.Delegation.

Section 34.Voting rights of shareholders.

Section 35.Disputes between Central Warehousing Corporation and State Warehousing Corporation.

Section 36.Declaration of fidelity and secrecy.

Section 37.Indemnity of directors.

Section 38.Offences.

Section 39.Provisions relating to income-tax and super-tax.

Section 40.Winding up of Warehousing Corporations.

Section 41.Power to make rules.

Section 42.Power of Warehousing Corporations to make regulations.

Section 43.Repeal and savings.