THE WAREHOUSING (DEVELOPMENT AND REGULATION) ACT, 2007

ACT NO. 37 OF 2007 · Enacted [19th September, 2007.] · 55 sections

PRELIMINARY

Section 1.Short title, extent and commencement.

Section 2.Definitions.

REGULATION OF WAREHOUSING BUSINESS

Section 3.Requirement of registration for warehouses issuing negotiable warehouse receipts.

Section 4.Registration of warehousemen.

Section 5.Registration of accreditation agencies.

WAREHOUSEMEN

Section 6.Liabilities of warehousemen.

Section 7.Duties of warehousemen.

Section 8.Duties of warehouseman to keep records and accounts of warehouse business.

Section 9.Special powers of warehouseman to deal with perishable and hazardous goods.

Section 10.Lien of warehouseman on goods.

WAREHOUSE RECEIPTS

Section 11.Warehouse receipts.

Section 12.Negotiability of warehouse receipts.

Section 13.Negotiation of warehouse receipt by delivery.

Section 14.Transfer of negotiable warehouse receipts without endorsement.

Section 15.Warranties on negotiation of warehouse receipts.

Section 16.Non-liability of the endorser.

Section 17.Negotiation of warehouse receipt not impaired by fraud, mistake or duress.

Section 18.Subsequent negotiation of warehouse receipts.

Section 19.Delivery of goods to be made after due charges are paid.

Section 20.Transfer of non-negotiable receipts.

Section 21.Conclusiveness of negotiable warehouse receipt.

Section 22.Presumption in certain cases.

Section 23.Issue of duplicate receipt.

THE WAREHOUSING DEVELOPMENT AND REGULATORY AUTHORITY

Section 24.Establishment and incorporation of Authority.

Section 25.Composition of Authority.

Section 26.Tenure of office of Chairperson and other members.

Section 27.Removal from office.

Section 28.Salary, allowances and other terms and conditions of Chairperson and other members.

Section 29.Bar on future employment of members.

Section 30.Chairperson to be the chief executive of Authority.

Section 31.Meetings of Authority.

Section 32.Vacancies, etc., not to invalidate proceedings of Authority.

Section 33.Officers and employees of Authority.

Section 34.Warehousing Advisory Committee.

POWERS AND FUNCTIONS OF AUTHORITY

Section 35.Powers and functions of Authority.

FINANCE, ACCOUNTS AND AUDIT

Section 36.Grants by Central Government.

Section 37.Constitution of fund.

Section 38.Accounts and audit.

Section 39.Furnishing of returns, Annual Report, etc., to Central Government.

POWERS OF CENTRAL GOVERNMENT

Section 40.Powers of Central Government to issue directions.

Section 41.Power of Central Government to supersede Authority.

APPEALS

Section 42.Appeals to Appellate Authority.

OFFENCES AND PENALTIES

Section 43.Offences and penalties.

Section 44.Offences by companies.

Section 45.Cognizance of offences by courts.

MISCELLANEOUS

Section 46.Chairperson, members, officers and other employees of Authority to be public servants.

Section 47.Protection of action taken in good faith.

Section 48.Delegation of powers.

Section 49.Exemption from tax on wealth and income.

Section 50.Power of Central Government to make rules.

Section 51.Power of Authority to make regulations.

Section 52.Rules and regulations to be laid before Parliament.

Section 53.Act to have overriding effect.

Section 54.Power to remove difficulties.

Section 55.Amendment of Act 2 of 1899.