The government has listed the Bill seeking to replace the Indian Bills of Lading Act, 1856, in its list of businesses in the Rajya Sabha on Monday.
The Bills of Lading Bill, 2024, introduced in the Lok Sabha on August 9, seeks to replace the Indian Bills of Lading Act, 1856, and provides a legal framework for the issuance of bills of lading.
A bill of lading refers to a document issued by a freight carrier to a shipper. It contains details such as the type, quantity, condition, and destination of goods being carried.
The Act states that a bill of lading is conclusive evidence of goods on board. It grants all rights of suit and liabilities regarding the goods to the receiver as per the bill of lading, or any third party to whom the receiver may transfer the ownership of the goods.
The Bill retains all provisions under the Act and also adds that the central government may issue directions for carrying out the provisions of the Bill.
“Though the substantive aspects of the said Act continue to remain relevant, being a pre-independence statute, it is imperative that the provisions of the said Act require to be revisited without changing the substance or spirit of the said Act, so as to bring it in line with modern legislations in order to facilitate simplification and ease of understanding. Further, a new provision is proposed to be incorporated to empower the Central Government to issue directions to carry out the provisions of the proposed legislation,” said Minister of Ports, Shipping and Waterways Sarbananda Sonowal in the Statement of Objects and Reasons of the Bill.