Amendment status not verified — confirm the current text below against the official source.
(1) For the purposes of sub-section(1) of section 15 and of section 16 , loss of weight or bulk by dryage or shrinkage within prescribed limits and gain in weight by absorption of moisture within such limits shall not be deemed to amount to deterioration. (2) If there is any excess in goods stored in a warehouse by absorption of moisture or other causes, the warehouseman shall not be entitled thereto. (3) If there is any shortage in the goods stored in a warehouse by dryage or other causes beyond his control, the warehouseman shall not be responsible therefor. (4) In the event of a dispute arising as to whether such shortage or excess is due to dryage or absorption of moisture or is due to other causes beyond the control of the warehouseman, the matter shall be referred to the appellate authority referred to in section 29 whose decision thereon shall be final and binding. 1[18. (1) Every warehouseman shall insure goods stored in warehouse against such risks, warehouses and in such manner as may be prescribed: Provided that a depositor may at his own cost insure his goods against other risks: Provided further that nothing contained in this sub-section shall apply to the goods deposited in a warehouse belonging to a Warehousing Corporation established under the Warehousing Corporations Act, 1962 (Parliament Act 58 of 1962) where such warehousing corporation has agreed, in the prescribed manner, to compensate the depositor against loss or damage arising from the prescribed risks. (2) Every warehouseman shall be entitled to recover from the depositor at the rate prescribed the charges for insurance in respect of the depositor's goods before delivery thereof, and where a Warehousing Corporation established under the Warehousing Corporations Act, 1962 (Parliament Act 58 of 1962), has agreed to compensate the depositor under the second proviso to sub-section (1), such corporation shall be entitled to recover from the depositor such additional charges 1 Substituted by Punjab Act No.30 of 1962,section 2 further substituted by Punjab Act No.18 of 1965 ,section 2. Liability of warehouse- man for shortage or excess in goods stored. Insurance of goods in warehouses. as it may decide, not exceeding the tariff rate of the insurance premia, for the risk which it has agreed to compensate.]