Preamble - WAREHOUSING (DEVELOPMENT AND REGULATION) REGISTRATION OF WAREHOUSES (AMENDMENT) RULES, 2018

WAREHOUSING (DEVELOPMENT AND REGULATION) REGISTRATION OF WAREHOUSES (AMENDMENT) RULES, 2018

PREAMBLE

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:-

Rule 1 - Short title and commencement

(1) These rules may be called the Warehousing (Development and Regulation) Registration of Warehouses (Amendment) Rules, 2018.

(2) They shall come into force on the date of their publication in the Official Gazette.

Rule 2 - RULE 2

In the Warehousing (Development and Regulation) Registration of Warehouses Rules, 2017, for the Seventh Schedule, the following schedule shall be substituted, namely:-

"THE SEVENTH SCHEDULE

[See rule 18 (1) and (2)]

MINIMUM NET WORTH REQUIREMENTS FOR REGISTRATION WITH THE AUTHORITY

Storage capacity (in tons)	Net worth (Rupees in crores)
Less than 1,000	0.1
1,001 - 3000	0.25
3,001 - 5,000	0.50
5,001 - 7000	1.00
7,001 - 10,000	2
10,001 - 15000	5
15,001 - 25,000	10
25,001 - 75,000	20
75,001 - 1,50,000	30
1,50,001 - 5,00,000	50
5,00,001 and above	100

Where the applicant/warehouseman is a Farmer Producer Organisation or a Co-operative, the net worth should be positive.".