1. Short title, extent and commencement -
(1) This Act may be called THE WAREHOUSING CORPORATIONS ACT, 1962.
(2) It extends to the whole of India except the State of Jammu and Kashmir.
(3) It shall come into force on such date as the Central Government may, by notification
in the official Gazette, appoint.
(a) The date appointed is 18-3-1963- See Gaz. of Ind. 18-3-1963, Pt. II, S.3(1), Ext. P. 155.
The Act has been extended to an enforced on 1-1-1984 in Sikkim - See S.O.529 (E) of 1983
and G.S.R. 926(E) of 1983.
(4) In exercise of the powers conferred by sub section 2 of section 1 of the Warehousing
Corporations (Amendment) Act 2001 (23 of 2001), the Central Government hereby appoint the first
day of November, 2001 as the date on which said Act shall come into force (GSR 804(E) dtd 29 Oct.
2001 (File No.6-60/97-SG) No.545 dtd 29 Oct. 2001)
2. Definitions - In this Act, unless the context otherwise requires:-
(a) "agricultural produce" means any of the following classes of commodities, namely:-
(i) foodstuffs, including edible oil-seeds;
(ii) cattle fodder, including oil-cakes and other concentrates;
(iii) raw cotton, whether ginned or unginned, and cotton seed;
(iv) raw jute; and
(v) vegetable oils;
(b) "appropriate Government" means in relation to the Central Warehousing Corporation, the
Central Government, and in relation to a State Warehousing Corporation, the State
Government;
(c) "Central Warehousing Corporation" means the Central Warehousing Corporation established
under section 3;
(d) "Co-operative Society" means a society registered or deemed to be registered under the Co
operative Societies Act, 1912, or under any other law with respect to co-operative societies for the
time being in force in any State which is engaged in the processing, marketing, storage, export or
import of agricultural produce or any notified commodity or in insurance business and includes a cooperative land mortgage bank:
(dd) "Nationalised Bank" means a corresponding new bank specified in the First Schedule to the
Banking Companies (Acquisition and Transfer of undertakings) Act, 1970;
(e) "notified commodity" means any commodity (other than agricultural produce) which the
Central Government may, by notification in the official Gazette, declare to be a notified commodity
for the purposes of this Act, being a commodity with respect to which Parliament has power to make
laws by virtue of entry 33 in List III in the Seventh Schedule to the Constitution;
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(f) "Prescribed" means prescribed by rules made under this Act.
(g) "recognised association" means an association which is for the time being recognised by the
Central Government under Section 6 of the Forward Contracts (Regulation) Act 1962;
(h) "Reserve Bank" means the Reserve Bank of India constituted under the Reserve Bank of
India Act, 1934.
(i) "Scheduled Bank" means a bank for the time being included in the Second Schedule to the
Reserve Bank of India Act, 1934 (and includes a nationalised bank);
(j) "State Bank" means the State Bank of India constituted under the State Bank of India Act,
1955;
(k) "State Warehousing Corporation" means Warehousing Corporation for a State established or
deemed to be established under this Act; and
(l) "Warehousing Corporation" means a Warehousing Corporation for a State established or
deemed to be established under this Act; and
(m) "year" means the financial year.
(a) Inserted by the Warehousing Corporations (Amendment) Act, 1976 (42 of 1976),
S.2(24-3-1976).
(b) (1) Iron and Steel (Metal), (2) Iron and Steel structurals, (3) Insecticides, fungicides
and weedcides, (4) Rubber, (5) Portland Cement, (6) Coir fibre and coir products, (7)
Textiles, (8) Paper and pulp including paper products and (9) Leather, leather goods and
pickers are so notified by G.S.R. 1039 published in Gaz. of India, 1963, Pt. II, S.3(1), P.1202;
Tobacco, Iac and wool are so notified under G.S.R. 1714, published in Gaz. of Ind., 1965, Pt.
II, S.3(i), P.1876; Tea chests, panels and battons are notified by G.S.R. 990, published in
Gaz. of Ind., 1966, Pt. II, S.3(i), P.1124; Mutton tallow, soda ash and washing soda so
declared under G.S.R. 173 published in Gaz. of Ind. 1968, Pt.II, S.3(i), p.100; Polythene
Granules and sheets so notified by G.S.R. 1967, published in Gaz. of Ind., 1970, Pt.II. S.3(i),
P.4430.
ii) For modified application of this section in certain States, see the Warehousing Corporations
(Supplementary) Act, 1965 (20 of 1965), S.2 (20.11.1965). The text of this Act is printed
after this Act in this volume.