Bare Act Search Results

Warehousing (Development and Regulation) Act 2007 Chapter IV

Title: Warehouse Receipts

State: Central

Year: 2007

.....warehouseman claims his lien; (n) date and signature of the warehouseman or his authorised agent; (o) declared shelf-life of goods; (p) the fact that the warehouseman holds the lien on the goods deposited for his storage and handling charges; and (q) that the receipt would be valid only till the date of expiry of declared shelf-life of the goods for which it is issued. (2) In case a warehouseman wilfully omits from a negotiable warehouse receipt any of the particulars set out in sub-section (1), he shall be liable for damages caused by such omission. (3) No warehouse receipt shall, by reason of the omission only of any of the particulars set-forth in sub-section (1), be deemed to be invalid for the purpose of settlement of disputes or claims. (4) Authority may, with the prior approval of the Central Government, add, delete or modify any particulars as specified in sub-clause (1) for all or any commodity or class of commodities or for any class of warehouses. Section 12 - Negotiability of warehouse receipts (1) The words in a negotiable warehouse receipt limiting its negotiability shall be void. (2) A warehouseman who issues a non-negotiable warehouse.....

Warehousing (Development and Regulation) Act 2007 Section 11

Title: Warehouse Receipts

State: Central

Year: 2007

..... (m) statement of the amount of any advance made and of any liability incurred for which the warehouseman claims his lien; (n) date and signature of the warehouseman or his authorised agent; (o) declared shelf-life of goods; (p) the fact that the warehouseman holds the lien on the goods deposited for his storage and handling charges; and (q) that the receipt would be valid only till the date of expiry of declared shelf-life of the goods for which it is issued. (2) In case a warehouseman wilfully omits from a negotiable warehouse receipt any of the particulars set out in sub-section (1), he shall be liable for damages caused by such omission. (3) No warehouse receipt shall, by reason of the omission only of any of the particulars set-forth in sub-section (1), be deemed to be invalid for the purpose of settlement of disputes or claims. (4) Authority may, with the prior approval of the Central Government, add, delete or modify any particulars as specified in sub-clause (1) for all or any commodity or class of commodities or for any class of warehouses.

Warehousing (Development and Regulation) Act 2007 Section 12

Title: Negotiability of Warehouse Receipts

State: Central

Year: 2007

(1) The words in a negotiable warehouse receipt limiting its negotiability shall be void. (2) A warehouseman who issues a non-negotiable warehouse receipt shall cause to be plainly marked upon its face the words "non-negotiable" or "not negotiable" in English or in the language in which it is issued. (3) In case of non-compliance of sub-section (2), a holder of the warehouse receipt who purchases it for valuable consideration believing it to be a negotiable warehouse receipt may, at his option, treat the receipt as vesting in him all rights attaching to a negotiable warehouse receipt and imposing upon the warehouseman the same liabilities which he would have incurred had the receipt been a negotiable warehouse receipt and the warehouseman shall be liable accordingly. (4) A negotiable warehouse receipt shall be valid for delivery till the date of expiry of the declared shelf-life of the goods for which it is issued.

Warehousing (Development and Regulation) Act 2007 Section 3

Title: Requirement of Registration for Warehouses Issuing Negotiable Warehouse Receipts

State: Central

Year: 2007

(1) No person shall commence or carry on the warehousing business unless he has obtained a registration certificate in respect of the concerned warehouse or warehouses granted by the Authority under this Act: Provided that a person carrying on the warehousing business immediately before the commencement of this Act shall be allowed to carry on such business, in case he has made an application for registration within thirty days from the date of such commencement: Provided further that no such registration shall be required for warehouses which do not propose to issue negotiable warehouse receipt. Explanation.--For the removal of doubts, it is hereby clarified that a warehouse registered under this Act shall also be eligible to issue non-negotiable warehouse receipts. (2) Notwithstanding anything contained in sub-section (1), the Authority may, subject to such regulations and guidelines issued by it, authorise any person registered under section 5 as an accreditation agency to issue certificate of accreditation to any person for carrying on the business of warehousing issuing negotiable warehouse receipts.

Karnataka Warehouses Act, 1961 Chapter V

Title: Warehouse Receipts

State: Karnataka

Year: 1961

For the goods deposited in his warehouse by each depositor, the warehouseman shall issue a receipt which shall contain full particulars of the goods and be in the prescribed form. Section 27 - Receipts for deposits in warehouses The receipt issued by a warehouseman shall, unless it is otherwise specified thereon, be transferable by endorsement and shall entitle the lawful holder thereof to receive the goods specified in it on the same terms and conditions as the original depositor. Section 28 - Duplicate receipt If a receipt is lost, destroyed, or damaged the warehouseman shall, on application by the depositor and payment by him of the prescribed fee issue a duplicate receipt on such conditions he may think fit to impose, being conditions included in rules prescribed for the purpose.

Indian Stamp Act, 1899 Section 8C

Title: Negotiable Warehouse Receipts Not Liable to Stamp Duty

State: Central

Year: 1899

1[8C. Negotiable warehouse receipts not liable to stamp duty Notwithstanding anything contained in this Act, negotiable warehouse receipts shall not be liable to stamp duty.] _______________________________ 1. Inserted by the Warehousing (Development and Regulation) Act, 2007 [Act No. 37 of 2007].

Warehousing (Development and Regulation) Act 2007 Section 15

Title: Warranties on Negotiation of Warehouse Receipt

State: Central

Year: 2007

A person who, for valuable consideration, negotiates a negotiable warehouse receipt by endorsement and delivery, including one who assigns for valuable consideration, a claim secured by a receipt, unless a contrary intention appears, warrants the following:-- (a) that the receipt is genuine; (b) that the person has a legal right to negotiate or transfer it; (c) that the person has no knowledge of any fact that would impair the validity of the receipt; (d) that the person has a right to transfer the title to the goods; and (e) that the goods are merchantable or fit for a particular purpose when those warranties would have been implied, if the contract of the parties had been to transfer without a receipt the goods represented by it.

Warehousing (Development and Regulation) Act 2007 Section 13

Title: Negotiation of Warehouse Receipt by Delivery

State: Central

Year: 2007

A negotiable warehouse receipt may be negotiated by its delivery if, by the terms of the receipt, the warehouseman undertakes to deliver the goods to the order of a named person, and that person or a subsequent endorsee has endorsed it.

Warehousing (Development and Regulation) Act 2007 Section 21

Title: Conclusiveness of Negotiable Warehouse Receipt

State: Central

Year: 2007

In the hands of a holder who has purchased a negotiable warehouse receipt for valuable consideration, it shall be conclusive evidence of the goods described in it as against the warehouseman or any person claiming through him.

The Bombay Warehouses Act, 1959 Complete Act

State: Maharashtra

Year: 1959

THE BOMBAY WAREHOUSES ACT, 1959 THE BOMBAY WAREHOUSES ACT, 1959 BOMBAY ACT NO V OF 1960 January, 1960 Amended by Corrig., C. & R. D. D., No. WHA 1060, 1060/20666/- (Co-op.) G dated 14.7.1961. (M. G. G., IV-B, p. 582) Amended by Mah. 71 of 1975 (24 An Act to provide for the regulation of the warehousing of certain goods in the State of Bombay. WHEREAS it is expedient to regulate the warehousing of certain goods in the State of Bombay ; It is hereby enacted in the Tenth Year of the Republic of India as follows :- CHAPTER I-PRELIMINARY SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the Bombay Warehouses Act, 1959. (2) It extends to the whole of the State of Bombay. (3) It shall come into force on such 2 as the State Government may, by notification in the Official Gazette, appoint. NOTIFICATION G. N., I. & C. D., No. WHA. 1559131854-MSC, dated 20th April, 1960 (B. G. Pt. IV-B, p. 555) In exercise of the powers conferred by sub-section (3) of section 1 of the Bombay Warehouses Act, 1959 (Bom. V of 1960), the Government of Bombay hereby appoints the 25th day of April, 1960 to be the date on which the said Act shall come into force in the.....