Gazette Tracker
Gazette Tracker

Core Purpose

Rules notified under sub-section (2) of section 50 of the Warehousing (Development and Regulation) Act, 2007 amending the Warehousing (Development and Regulation) Registration of Warehouses Rules, 2017 to mandate electronic-only issuance of negotiable warehouse receipts.

Detailed Summary

The Ministry of Consumer Affairs, Food and Public Distribution (Department of Food and Public Distribution) issued Notification G.S.R. 311(E), dated 4th June 2024, making, in exercise of powers under clauses (a), (b) and (c) of sub-section (2) of section 50 of the Warehousing (Development and Regulation) Act, 2007 (37 of 2007), the "Warehousing (Development and Regulation) Registration of Warehouses (Amendment) Rules, 2024," effective from the date of publication in the Official Gazette. The amendment substitutes rule 27 of the Warehousing (Development and Regulation) Registration of Warehouses Rules, 2017 with a new rule 27, "Mandatory issuance of e-negotiable warehouse receipt," under which a warehouseman shall, subject to conditions determined by the Authority, issue negotiable warehouse receipts in electronic form only, and the Authority may itself function as a repository, or register one or more entities as repository, for creation and management of electronic negotiable warehouse receipts. A note states that the principal rules were published vide G.S.R. 165(E), dated 23rd February 2017, and last amended vide G.S.R. 791(E), dated 20th October 2023. The notification, File No. 25-2020-Stg-II, was signed by Anita Karn, Joint Secretary.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-05062024-254551 EXTRAORDINARY PART II-Section 3-Sub-section (i) PUBLISHED BY AUTHORITY No. 290] NEW DELHI, WEDNESDAY, JUNE 5, 2024/JYAISHTHA 15, 1946 THE GAZETTE OF INDIA: EXTRAORDINARY [PART II-SEC. 3(i)] MINISTRY OF CONSUMER AFFAIRS, FOOD AND PUBLIC DISTRIBUTION (Department of Food and Public Distribution) NOTIFICATION New Delhi, the 4th June, 2024 G.S.R. 311(E).—In exercise of the powers conferred by clauses (a), (b) and (c) of sub-section (2) of section 50 of the Warehousing (Development and Regulation) Act, 2007 (37 of 2007), the Central Government hereby makes the following rules further to amend the Warehousing (Development and Regulation) Registration of Warehouses Rules, 2017, namely:- 1. Short title and commencement.-(1) These rules may be called the Warehousing (Development and Regulation) Registration of Warehouses (Amendment) Rules, 2024. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Warehousing (Development and Regulation) Registration of Warehouses Rules, 2017, for rule 27, the following rule shall be substituted, namely: "27. Mandatory issuance of e-negotiable warehouse receipt.–(1) Subject to such conditions and the manner as may be determined by the Authority, a warehouseman shall issue negotiable warehouse receipts in electronic form only. (2) For the purpose of sub-rule (1) above, the Authority may itself function as a repository or register one or more entities as repository, for creation and management of electronic negotiable warehouse receipts." [F. No. 25-2020-Stg-II] ANITA KARN, Jt. Secy. Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 165(E), dated the 23rd February, 2017 and last amended vide number G.S.R. 791(E), dated the 20th October, 2023. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. Digitally signed by MANOJ KUMAR VERMA MANOJ KUMAR VERMA Date: 2024.06.05 19:44:38 +05'30'

Never miss important gazettes

Create a free account to save gazettes, add notes, and get email alerts for keywords you care about.

Sign Up Free