The Warehouse Receipts (Amendment) Act, 2015
This section gives the Act’s short title and says it must be read together with the Warehouse Receipts Act.
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Statute overview
About this statute
This section gives the Act’s short title and says it must be read together with the Warehouse Receipts Act. This provision amends section 2 of the principal Act by removing specific words from the text. This section amends section 3 by changing and adding definitions used in the principal Act. The provision creates the Warehouse Receipts Regulatory Board, gives the Attorney-General a right to intervene in cases involving the Board, and requires the Board to notify the Attorney-General about impending suits or intended suits involving the Board. This provision amends section 5 of the principal Act, updates wording from “warehouses” to “warehouse operations,” replaces paragraph (b) with new functions, and renumbers later paragraphs.
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Provisions of The Warehouse Receipts (Amendment) Act, 2015
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Part
PART I
- 1 Verify source ↗
Short title
AI-assisted research summary: This section gives the Act’s short title and says it must be read together with the Warehouse Receipts Act.
1. This Act may be cited as the Warehouse Receipts (Amendment) Act, 2015 and shall be read as one with the Warehouse Receipts Act, hereinafter referred to as the “principal Act”. PART II GENERAL AMENDMENTS Amendment of section 2
Part
PART II
- 2 Verify source ↗
Amendment of section 2
AI-assisted research summary: This provision amends section 2 of the principal Act by removing specific words from the text.
2. The principal Act is amended in section 2 by deleting the words “and to such other goods” appearing between the words “commodities” and “as the Minister”; Amendment of section 3 - 3 Verify source ↗
Amendment of section 3
AI-assisted research summary: This section amends section 3 by changing and adding definitions used in the principal Act.
3. The principal Act is amended in section 3, by- (a) deleting- (i) the definition of the term “Board” and substituting for it the following- “Board” means the Warehouse Receipts Regulatory Board established under section 4; (ii) the word “agricultural” appearing definition of the term “Minister”; in the (b) inserting- (i) the words “in writing or electronic form” between the words “receipt” and “issued” appearing in the definition of the term “warehouse receipts”; No.3 Warehouse Receipts 2015 5 (ii) in their alphabetical order the following new definitions- “collateral manager” means a person who issues warehouse receipt, verifies and gives advice on collateral transactions based on that issued warehouse receipt in order stored commodities; to minimize credit risk of the “commodity” includes agricultural, non-agricultural commodities as may be declared by the Minister; “key actors” includes depositors, warehouse operators, bank or financial institution and collateral managers or directly associated with warehouse receipt; “lien” means a right to hold and retain goods in terms of section 54(1) and (2); and “shrinkage” means a degree of drawback, contracts to a smaller volume, size or extent as a result of heat, moisture, aeration, drying or deterioration of quality; and “secondary processing” means the process of changing product form which involve physical means; “tertiary processing” means a process of adding value of a commodity that involves physical and chemical change of a commodity; Amendment of section 4 - 4 Verify source ↗
Amendment of section 4
AI-assisted research summary: The provision creates the Warehouse Receipts Regulatory Board, gives the Attorney-General a right to intervene in cases involving the Board, and requires the Board to notify the Attorney-General about impending suits or intended suits involving the Board.
4. The principal Act is amended in section 4, by- (a) deleting subsection (1) and substituting for it the following- “(1) There is established a Board to be known as the Warehouse Receipts Regulatory Board.” 6 No.3 Warehouse Receipts 2015 (b) adding following new subsections: immediately after subsection (3) the “(4) Notwithstanding the provisions of this section, the Attorney-General shall have the right to intervene in any suit or matter instituted by, or against the Board. Cap. 6 (5) Where in any matter the Attorney-General in pursuance of intervenes subsection (2), the provisions of the Government Proceedings Act shall apply in relation to the proceedings of that suit or matter as if it had been instituted by, or against the Government. Amendment of section 5 (6) For the purposes of subsections (2) and (3), the Board shall have a duty to notify the Attorney-General of any impending suit or intention to institute a suit or matter by, or against the Board.”; and - 5 Verify source ↗
Amendment of section 5
AI-assisted research summary: This provision amends section 5 of the principal Act, updates wording from “warehouses” to “warehouse operations,” replaces paragraph (b) with new functions, and renumbers later paragraphs.
5. The principal Act is amended in section 5, by- (a) (b) deleting the word “warehouses” appearing in paragraph (a) and substituting for it the words “warehouse operations”; deleting paragraph (b) and substituting for it the following paragraphs: “(b) lincensing of collateral managers; (c) print and approve warehouse receipt books or receipts in any other forms; No.3 Warehouse Receipts 2015 7 (d) enroll and keep a register of key actors; (e) collaborate with other national and international similar functions and objectives to those of the Board; bodies with (f) represent the Government in national and international fora; and (c) renaming paragraphs “(c)”, “(d)” “(e)” and “(f)” as paragraphs “(g)”, “(h)”, “(i)” and “(j)” respectively. Amendment of section 6 - 6 Verify source ↗
Amendment of section 6
AI-assisted research summary: This amendment changes section 6 to let the Board charge, assess, and collect fees from key actors, require region and district authorities to form supervision committees, and let the Minister make regulations about those committees.
6. The principal Act is amended in section 6, by- (a) deleting paragraph (n) appearing in subsection (1) and substituting for it the following: “(n) charge, assess and collect fees from key actors;” (b) inserting immediately at the beginning of paragraph (q) the words “with approval of the Minister for Finance;” (c) by adding new subsection (3)(a) and (b) as follows: supervision (a) for purpose of implementation of the provisions of this Act, the Board shall require region and district authorities to form to supervise Warehouse Receipt Systems.” (b) meeting of the regional and district supervision committees shall be chaired by Regional Administrative Secretary or District Executive Director”; committees 8 No.3 Warehouse Receipts 2015 (c) in consultation with the Minister responsible for local government authorities, the Minister may make Regulations prescribing composition of the supervision committees and other matters that relates to the Supervisory Committee.” Addition of section 8A - 7 Verify source ↗
Addition of section 8A
AI-assisted research summary: This section amends the principal Act by inserting a new provision immediately after section 8, titled “Indemnity.”
7. The principal Act is amended by adding immediately after section 8 the following provision: “Indemnity - 8A Verify source ↗
Anything done by a member of
AI-assisted research summary: Board members and staff are protected from personal liability for acts done in good faith while carrying out functions under the Act.
8A. Anything done by a member of the Board or any staff of the Board shall, if done in good faith, in the execution of the functions conferred upon the member or staff of the Board by this Act, not render the member or staff personally liable for any matter.”. Amendment of section 9 - 8 Verify source ↗
Amendment of section 9
AI-assisted research summary: This section amends section 9 of the principal Act by replacing words in paragraph (b), deleting paragraph (d), and renumbering paragraph (e) as paragraph (d).
8. The principal Act is amended in section 9, by- (a) deleting in paragraph (b), the phrase “inspecting and supervising warehouses” and substituting, for it the words “key actors”; (b) deleting paragraph (d); and (c); (c) renaming paragraph (e) as paragraph (d). Amendment of section 18 - 9 Verify source ↗
Amendment of section 18
AI-assisted research summary: A licence holder may not assign the licence to anyone else without the Board’s approval.
9. The principal Act is amended in section 18 by adding immediately after subsection (2) the following provisions: “(3) A person to whom a licence has been granted by the Board shall not without approval of the Board assign it to any other person. No.3 Warehouse Receipts 2015 9 (4) A person who contravenes subsection (3) commits an offence and shall, on conviction, be liable to a fine of not less than twenty million shillings or to imprisonment for a term of not less than twelve months and not exceeding five years or both.”. Amendment of section 19 Amendment of section 32 - 10 Verify source ↗
Amendment of section 19
AI-assisted research summary: This section amends section 19 by changing the wording at the start of subsection (1) from “Each warehouse operator” to “Warehouse operator”.
10. The principal Act is amended in section 19, by deleting the phrase “Each warehouse operator” appearing at the beginning of subsection (1) and substituting for it the phrase “Warehouse operator”. - 11 Verify source ↗
Amendment of section 32
AI-assisted research summary: A warehouse operator must insure a warehouse with comprehensive insurance cover.
11. The principal Act is amended in section 32 by- (a) inserting the words “Warehouse Receipts as mortgage or” immediately before the word “in” appearing at the beginning of paragraph (a) of subsection (2); and (b) deleting the word “or” appearing at the end of paragraph (c) of subsection (2); and (c) adding immediately after paragraph (d) the following- “(e) as a proof of title of ownership; (f) as a mortgage instrument”. (d) adding subsection (3) as follows:- (3) A warehouse operator shall insure a warehouse with a comprehensive insurance cover. 10 No.3 Warehouse Receipts 2015 Amendment of section 33 - 12 Verify source ↗
Amendment of section 33
AI-assisted research summary: Section 33(1) is amended to add two new required items after paragraph (h).
12. The principal Act is amended in section 33(1), by inserting after paragraph (h) the following new paragraphs: after paragraph (h) the following new paragraphs: “(i) a statement on the treatment of warehouse receipts of the commodity which undergoes secondary or tertiary processing; and (j) signatures of both authorized signatory.” Amendment of section 36 - 13 Verify source ↗
Amendment of section 36
AI-assisted research summary: This section amends section 36 of the principal Act by renumbering its existing text as subsection (1) and adding new provisions after it.
13. The principal Act is amended in section 36, by- (a) designating its contents as subsection (1); and (b) adding immediately after the designated subsection (1) the following new provisions: “(2) Notwithstanding subsection (1), a warehouse receipt shall be null and void if- (a) (b) (c) (d) (e) (f) the warehouse is not receipt the requirements the warehouse consistent with stipulated under section 33; the contents of receipt are not duly filled in; it is not signed by authorised parties; there is a duplication of serial numbers; records is mismatch of there between the warehouse receipt and inner documents; or there required information.” is a misrepresentation of No.3 Warehouse Receipts 2015 11 Amendment section of 38 - 14 Verify source ↗
Amendment of section 38
AI-assisted research summary: This amendment replaces section 38 so that the holder must immediately report loss, theft, or destruction of a warehouse receipt to the warehouse operator, and the warehouse operator must immediately report that information to the Board.
14. The principal Act is amended in section 38- (a) in subsection (1), by deleting subsection (1) and substituting for it the following- “(1) The holder shall, in the case of loss, theft or destruction of a warehouse receipt, immediately report to warehouse operator.. subsection (2) Subject the warehouse operator, shall, upon receipt of the information of loss, theft or destruction of a warehouse receipt, immediately report to the Board.” (1), (b) by renumbering subsection (2) as subsection (3); (c) in subsection (3) as renumbered by- (i) deleting the phrase “the request of the holder is accompanied by” appearing in the open words to subsection (3); (ii) adding immediately before paragraph (a) the following paragraphs: “(a) the holder pays a prescribed fee; and (b) the request of the holder is accompanied by-” (iii) designating the contents of paragraphs (a), (b), (c) and (d) as subparagraphs (i), (ii), (iii) and (iv) respectively; (iv) by adding immediately after paragraph (ii) as renamed the following new paragraph: 12 No.3 Warehouse Receipts 2015 “(iii) download from the website of the Board or an approval letter from the Board”; (v) deleting subparagraphs (ii) and (iii) as designated; and (vi) renaming subparagraph (iv) as (ii). Amendment of section. 39 - 15 Verify source ↗
Amendment of section 39
AI-assisted research summary: A person who wants to perform collateral manager functions must apply to the Board for a licence. The Minister may make regulations about collateral managers and licence conditions.
15. The principal Act is amended by adding immediately after section 39, the following new section: Collateral 39A.(1) A person who wishes to Manager perform functions of a collateral manager shall apply for a licence to the Board. (2) The Minister may make regulations prescribing among other things (a) functions, rights and obligations of a collateral manager; and (b) conditions to be fulfilled by a collateral before applying for a licence under this section.” manager Amendment of section 53 - 16 Verify source ↗
Amendment of section 53
AI-assisted research summary: This section amends section 53 of the principal Act by replacing the words “holder of warehouse receipt or the depositor” with “Board” in subsection (1).
16. The principal Act is amended in section 53 by deleting the words “holder of warehouse receipt or the depositor” appearing in subsection (1) and substituting for them the word “Board”. Amendment section of 60 - 17 Verify source ↗
Amendment of section 60
AI-assisted research summary: If a warehouse operator refuses to deliver goods to satisfy a lien, the Board must access and approve the value and amount of the commodity to be sold to satisfy the lien.
17. The principal Act is amended in section 60 by adding immediately after subsection (1) the following new subsections: No.3 Warehouse Receipts 2015 13 Addition section 70A of “(2) Where a warehouse operator refuses to deliver goods for the purpose of satisfying a lien, the Board shall access and approve the value and amount of the commodity to be sold to satisfy the lien”; - 18 Verify source ↗
Addition of section 70A
AI-assisted research summary: This section amends the principal Act by adding a new section after section 70 titled “Trade platforms.”
18. The principal Act is amended by adding immediately after section 70 the following section: “Trade platforms - 70A Verify source ↗
(1) Notwithstanding any other
AI-assisted research summary: Warehouse receipt transfers must go through a platform licensed or approved under the Capital Markets and Securities Act. Existing platform operators under other laws must apply for that license or approval within three months after the act starts.
70A.-(1) Notwithstanding any other written law, the transfer of a warehouse receipt by a warehouse operator or collateral manager under the warehouse receipt system, shall be effected through a trading platform which is licensed or approved in accordance with the Capital Markets and Securities Act. (2) A person who operates a trading platform in accordance with any other written law shall, within three months of the coming into operation of this act, apply for a license or approval the Capital Markets and Securities Act. in accordance with Cap. 79 Cap. 79 Amendment of section 71 - 19 Verify source ↗
Amendment of section 71
AI-assisted research summary: Section 71’s penalty is replaced with a higher minimum fine or a prison term, or both.
19. The principal Act is amended in section 71, by deleting the phrase “for imprisonment for a term not exceeding five years or to a fine not exceeding five million shillings or both” and substituting for it the phrase “to a fine of not less than fifty percent of the value of such goods or to imprisonment for a term of not less than twelve months and not exceeding five years, or both.”. Amendment of section 72 - 20 Verify source ↗
Amendment of section 72
AI-assisted research summary: Section 72 is amended to replace the existing penalty with a higher fine and longer imprisonment term.
20. The principal Act is amended in section 72, by deleting the phrase “to imprisonment for a term not 14 No.3 Warehouse Receipts 2015 exceeding one year or to a fine not exceeding one million shillings or to both” and substituting for it the phrase “to a fine of not less than fifty percent of the value of such goods or to imprisonment for a term of not less than twelve months and not exceeding five years or both.” Amendment of section 73 - 21 Verify source ↗
Amendment of section 73
AI-assisted research summary: Section 73 is amended to replace the old penalty with a new fine and imprisonment range.
21. The principal Act is amended in section 73, by deleting the phrase “to imprisonment for a term not exceeding five years or to a fine not exceeding five million shillings” and substituting for it the phrase “to a fine of not less than fifty percent of the value of such goods or to imprisonment for a term of not less than twelve months and not exceeding five years, or both.” Amendment of section 75 - 22 Verify source ↗
Amendment of section 75
AI-assisted research summary: This section amends section 75 and adds a rule allowing a court to order compensation equal to the value of undelivered goods in a warehouse receipt case.
22. Principal Act is amended in section 75, by- (a) designating its contents as subsection (1); and (b) adding immediately after subsection (1) as designated the following provision- “(2) Where a holder of a warehouse receipt or depositor proves that the goods for which a receipt was obtained was not delivered to him, court may, in addition to any penalty imposed under the warehouse operator, officer, agent or servant of the warehouse as the case may be, to compensate the owner or holder an amount of money equal to the value of the undelivered goods.” subsection order (1), Amendment section 78 of - 23 Verify source ↗
Amendment of section 78
AI-assisted research summary: This section changes section 78 so the penalty becomes a fine of up to ten million shillings, imprisonment from at least 12 months up to 5 years, or both.
23. The principal Act is amended in section 78, by deleting the phrase “not exceeding three months or to a fine No.3 Warehouse Receipts 2015 15 not less than five million shilling and not exceeding five hundred thousand shillings” and substituting for it the phrase “not exceeding ten million shillings or imprisonment for a term of not less than twelve months and not exceeding five years or both”: Addition section 78A of - 24 Verify source ↗
Addition of section 78A
AI-assisted research summary: The principal Act is amended by inserting a new section after section 78, titled “Compounding offences”.
24. The principal Act is amended by adding immediately after section 78 the following new section: “Compounding offences - 78A Verify source ↗
(1) Where a person admits
AI-assisted research summary: The Board may compound an offence under the Act if the person admits it, by accepting 20% of the value of the goods.
78A.-(1) Where a person admits commission of an offence under this Act, the Board may compound the offence by accepting from such person a sum of twenty percent of the value of the goods. (2) Subject to subsection (4), where proceedings are brought against a person for an offence under this Act, it shall be a defence if that person proves that the offence against which charged was compounded. he is (3) Any sum of money received under this section shall be treated as a fine imposed by a court for the offence. (4) Where an offence is compounded under this section, the court may make an order as if the person concerned had been convicted by the court for that offence. (5) The order under subsection (4) shall not be made unless the person concerned is given an opportunity to show cause why the order should not be made.” 16 No.3 Warehouse Receipts 2015 Amendment of section 79 - 25 Verify source ↗
Amendment of section 79
AI-assisted research summary: This section amends section 79(1) by expanding and renaming the listed matters, including supervision of warehousing, duplicate warehouse receipts, prescribed forms, key actors’ obligations and rights, and licence forms.
25. The principal Act is amended section 79(1), by- (a) deleting the words “and licensing” appearing in paragraph (m) and substituting for it the words “licensing, supervision of warehousing, and issuance of duplicate warehouse receipts” (b) adding immediately after paragraph (m) as amended the following paragraphs: “(n) prescribing forms as may be prescribed under this Act; (o) prescribing obligations and rights of key actors; (p) prescribing a form of licence issued under this Act; and” (c) renaming paragraph (n) as paragraph (q). Addition of sections 80, 81, 82 and 83 - 26 Verify source ↗
Addition of sections 80, 81, 82 and 83
AI-assisted research summary: This section amends the principal Act by adding new sections after section 79, including sections titled “Standard grade and quality” and “Weights and measures.”
26. The principal Act is amended by adding immediately after section 79 the following new sections: “Standard grade and quality Weights and measures - 80 Verify source ↗
Subject to the provisions of
AI-assisted research summary: Warehouse operators must follow the standards, grades, and quality parameters set by a competent authority, subject to the Act.
80. Subject to the provisions of this Act, every warehouse operator shall abide by standards, grades and quality parameters set out by a competent authority. - 81 Verify source ↗
Subject to the provisions of
AI-assisted research summary: Warehouse operators must follow weight and measurement parameters set by a competent authority, subject to this Act.
81. Subject to the provisions of this Act, every warehouse operator shall abide by weight and measurement parameters set out by a competent authority. Recognition of electronic licence and warehouse receipt - 82 Verify source ↗
Where
AI-assisted research summary: Information or other matters for a licence or warehouse receipt must be in writing, typewritten, or printed, and may be valid if made available electronically and accessible later.
82. Where this Act provides information or any other matter in respect of a licence or a warehouse receipt, such information or matter shall be in writing, typewritten or printed form, and shall be No.3 Warehouse Receipts 2015 17 typewritten or printed form, and shall be deemed to be valid if such licence or warehouse receipt- (a) (b) is rendered or made available in an electronic form; and is reference.” accessible subsequent for Deposit of commodities in warehouse - 83 Verify source ↗
Notwithstanding any provision of this
AI-assisted research summary: A farmer cannot be forced to deposit commodities in a warehouse.
83. Notwithstanding any provision of this Act, a farmer shall not be compelled to deposit commodities in the warehouse. Passed in the National Assembly on the 21st March, 2015. THOMAS D. KASHILILLA Clerk of the National Assembly
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