Warehousing Act 1962

The Warehousing Corporation Act 1962

Arrangement of Sections
Chapter – I


1. Short Title, Extent and Commencement.
2. Definitions

Chapter – II
The Central Warehousing Corporation


3. The Central Warehousing Corporation.
4. Share Capital and Shareholders.
5. Shares to be guaranteed by Central Government and to be trust or approved securities.
6. Management of Central Warehousing Corporation.
7. Directors.
8. Disqualification for office of Director of the Central Warehousing Corporation.
9. Removal of Directors from office.
10. Appointment of officers etc. and their conditions of service.
11. Functions of Central Warehousing Corporation.
12. Executive Committee.
13. Meetings of the Corporation.
14. Grants and Loans by the Central Government.
15. Corporation to maintain two funds.
16. Warehousing Fund.
17. General Fund.

Chapter – III
State Warehousing Corporation


18. State Warehousing Corporation.
19. Share Capital and Shareholders.
20. Management of State Warehousing Corporation.
21. Disqualification for office of the Director of the Corporation.
22. Removal of Directors from office.
23. Appointment of officers etc. and their conditions of service.
24. Functions of the State Warehousing Corporation.
25. Executive Committee.

Chapter – IV
Finance, Accounts and Audit


26. Submission of program of activities and financial estimates.
27. Borrowing powers of Warehousing Corporation.
28. Deposit Account.
29. Investment of Funds.
30. Disposal of Profits.
31. Accounts and Audit of Warehousing Corporation.
31A. Return and Reports.

Chapter – V


32. Vacancies etc. not to invalidate acts and proceedings of Warehousing Corporation.
33. Delegation.
34. Voting Rights of Shareholders.
35. Disputes between Central Warehousing Corporation and State Warehousing Corporation.
36. Declaration of fidelity and secrecy.
37. Indemnity of Directors.
38. Offences.
39. Provisions relating to Income-Tax and Super-Tax.
40. Winding up of Warehousing Corporations.
41. Power to make rules.
42. Power of Warehousing Corporations to make regulations.
43. Repeal and Savings.