Section 11 in The Warehousing Corporations Act, 1962
11. Functions of Central Warehousing Corporation.
Subject to the provisions of this Act, the Central Warehousing Corporation may--(a)acquire and build godowns and warehouses at such suitable places in India [or abroad] [Added by Warehousing Corporations Act, 2001(23 of 2001) ] as it thinks fit;(b)run warehouses for the storage of agricultural produce, seeds, manures, fertilizers, agricultural implements and notified commodities offered by individuals, co-operative societies and other institutions;(c)arrange facilities for the transport of agricultural produce, seeds, manures, fertilizers, agricultural implements and notified commodities to and from warehouses;(d)subscribe to the share capital of a State Warehousing Corporation;(e)act as agent of the Government for the purposes of the purchase, sale, storage and distribution of agricultural produce, seeds, manures, fertilizers, agricultural implements and notified commodities; [--] [Omitted by [and] Warehousing Corporations Act, 2001(23 of 2001) ](ea)[ enter into, with the previous approval of the Central Government, joint ventures with any corporation established by or under any Central Act or any State Act or with any company formed and registered under the Companies Act, 1956 (1 of 1956) including foreign company or through its subsidiary companies, for carrying out the purposes of this Act. [New clause added by Warehousing Corporations Act, 2001(23 of 2001) ]Explanation. - For the purposes of this clause, the expression "foreign company" shall have the meaning assigned to it under clause (23A) of section 2 of the Income-tax Act, 1961 (43 of 1961); (eb) establish subsidiary companies; and](f)carry out such other functions as may be prescribed.
