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58/1962 - The Warehousing Corporations Act, 1962 ▶

Act Number: 58

Act Name: The Warehousing Corporations Act, 1962

Year: 1962

Enactment Date: 1962-12-19

Long Title: An Act to provide for the incorporation and regulation of corporations for the purpose of warehousing of agricultural produce and certain other commodities and for matters connected therewith.

Ministry: Ministry of Consumer Affairs, Food and Public Distribution

Department: Department of Food and Public Distribution

Section Number	Title	Actions
1	Short title, extent and commencement.
2	Definitions.
2A	Construction of references to any law not in force or any functionary not in existence in any State.
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.
18	State Warehousing Corporations.
19	Share capital and shareholders.
20	Management of a State Warehousing Corporation.
21	Disqualification for office of 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.
26	Submission of programme 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	Returns and reports.
32	Vacancies, etc., not to invalidate acts and proceedings of Warehousing Corporations.
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.