Warehouseman, other than co-operative society etc. not to lend money against goods in warehouse.

Notwithstanding anything contained in any law, no warehouseman other than a co-operative society or a corporation established under the Agricultural Produce (Development and Warehousing) Corporation Act, 1956 (28 of 1956), shall, either on his own account or that of others, deal in, or lend money on, goods which he receives for storage in his warehouse.