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Section 35 - Major Port Authorities Act, 2021
The Major Port Authorities Act, 2021
35. Endorser of security not liable for amount thereof.-
Notwithstanding anything contained in the Negotiable Instruments Act, 1881 (26 of 1881), a person shall not by reason only of his having endorsed any port security be liable to pay any monies due, either as principal or as interest thereunder.
Related Sections
- Section 27: Scale of rates for assets and services available at Major Port
- Section 2: Definitions
- Section 51: Board not to sell, alienate or divest its assets, properties, rights, powers and authorisations without sanction of Central Government
- Section 36: Recognition as holder of port securities in certain cases and legal effect thereof
- Section 53: Power of Central Government to issue directions
Related Acts
* Only for reference.