Title : Meetings of Authority
State : Central
Year : 2007
(1) The Authority shall meet at such times and places and shall observe such rules of procedure in regard to transaction of business at its meetings (including the quorum at such meetings) as may be determined by regulations. (2) The Chairperson, or if, for any reason he is unable to attend a meeting of the Authority, any other member chosen by the members present from amongst themselves at the meeting shall preside at the meeting. (3) All questions which come up before any meeting of the Authority shall be decided by a majority of votes by the members present and voting, and in the event of an equality of votes, the Chairperson, or the person presiding shall have a second or casting vote. View Complete Act List Judgments citing this sectionTitle : Constitution of Fund
State : Central
Year : 2007
(1) There shall be constituted a fund to be called the Warehousing Development and Regulatory Authority Fund and there shall be credited thereto-- (a) all Central Government grants, fees and charges received by the Authority; (b) all sums received by the Authority from such other source as may be decided upon by the Central Government; (c) all sums realised by way of penalties under this Act. (2) The fund shall be applied for meeting- (a) the salaries, allowances and other remuneration of the members, officers and other employees of the Authority; (b) the other expenses of the Authority in connection with the discharge of its functions and for the purposes of this Act, View Complete Act List Judgments citing this sectionTitle : Definitions
State : Central
Year : 2007
In this Act, unless the context otherwise requires,-- (a) "accreditation agency" means an agency, whatever be its constitution, registered with the Authority under section 5; (b) "actionable claim" shall have the meaning assigned to it in section 3 of the Transfer of Property Act, 1882(4 of 1982); (c) "Authority" means the Warehousing Development and Regulatory Authority established under sub-section (1) of section 24; (d) "depositor" means a person who delivers goods to the warehouseman for storage; (e) "endorsee" means the person to whom the warehouse receipt is negotiated; (f) "endorsement" means signing on the warehouse receipt by the depositor or holder of the warehouse receipt for the purpose of its negotiation; (g) "electronic form", with reference to information,..... View Complete Act List Judgments citing this sectionTitle : 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. View Complete Act List Judgments citing this sectionTitle : Transfer of Negotiable Warehouse Receipts Without Endorsement
State : Central
Year : 2007
Where a negotiable receipt is transferred for valuable consideration by delivery, and the endorsement of the transferor is essential for negotiation, the transferee acquires a right against the transferor to compel him to endorse the receipt, unless a contrary intention appears, and the negotiation takes effect as of the time when endorsement is made. View Complete Act List Judgments citing this sectionTitle : 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. View Complete Act List Judgments citing this sectionTitle : Non-liability of the Endorser
State : Central
Year : 2007
The endorsement of a receipt does not make the endorser liable for any failure on the part of the warehouseman or previous endorsers of the receipt to fulfil their respective obligations. View Complete Act List Judgments citing this sectionTitle : Negotiation of Warehouse Receipt Not Impaired by Fraud, Mistake Orduress
State : Central
Year : 2007
The validity of the negotiation of a receipt is not impaired by the fact that-- (a) the negotiation was a breach of duty on the part of the person making the negotiation; or (b) the owner of the receipt was induced by fraud, mistake or duress to entrust the possession or custody of the receipt to that person, if the person to whom the receipt was negotiated or a person to whom the receipt was subsequently negotiated, paid value for it without knowing of the breach of duty, fraud, mistake or duress. View Complete Act List Judgments citing this sectionTitle : Subsequent Negotiation of Warehouse Receipts
State : Central
Year : 2007
If a person having sold, mortgaged or pledged goods that are in the custody of a warehouseman and for which a negotiable receipt has been issued, continues in possession of the negotiable receipt, the subsequent negotiation of it by that person under any sale or other disposition of the goods to any person receiving the receipt in good faith, for valuable consideration and without notice of the previous sale, mortgage or pledge, has the same effect as if a previous purchaser, mortgagee or pledgee of the goods, as the case may be, had expressly authorised the subsequent negotiation. View Complete Act List Judgments citing this sectionTitle : Delivery of Goods to Be Made After Due Charges Are Paid
State : Central
Year : 2007
When a negotiable warehouse receipt has been issued in respect of any goods, the warehouseman shall not deliver the goods to the depositor or endorsee, until the due charges are paid to the custodian from the date of initial deposit till delivery is made and the warehouse receipt is surrendered for cancellation. View Complete Act List Judgments citing this section