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The Warehousing Corporations Act, 1962

[Act No. 58 of 1962]

[19th December, 1962.]

Contents
Sections Chaptericulars
Title The Warehousing Corporations Act, 1962
Chapter I Preliminary
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
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 Corporations
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
Chapter IV Finance, Accounts and Audit
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
Chapter V Miscellaneous
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
Schedule1 Declaration of Fidelity and Secrecy
Schedule2 [See Section 1(2)]


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