Provided that the warehouseman shall show such preference to co-operative societies in the State and allow them such concessional rates as may be prescribed.

Warehouseman not to deal in or lend against goods in warehouse Nothwithstanding anything contained in any other law for the time being in force, no warehouseman, other than a co-operative society or the Central or any State warehousing corporation set-up under the Warehousing Corporation Act, 1962, (58 of 1962) shall either on his own account or that of others, deal in, or lend money on, goods received by him for deposit in his warehouse.