This Act defines the character of the bill of lading as an evidence of the contract of carriage of goods between the ship owner and the shipper, as an acknowledgement of the receipt of the goods on board the vessel and, as a document of title. The bill of lading is one of the various documents required in connection with settlement of marine cargo claims.

The manufacturing, supply, operation, registration of Boiler in India is governed by this Act. (1) “Accident” means an explosion of boiler, or boiler component, which is calculated to weaken the strength or an uncontrolled release of water or steam there from, liable to cause death or injury to any person or damage to any property;’ (2) “Boiler” means a pressure vessel in which steam is generated for use external to itself by application of heat which is wholly or partly under pressure when steam is shut off but does not include a pressure vessel. Act also provided for an official enquiry to be made into all boiler explosions as also laid down fines to be imposed on all boiler expositions as also laid down fines to be imposed on those responsible for explosions.

The Act gives effect to the provisions of the Warsaw Convention, 1929 and the Hague Protocol, 1955 relating to international carriage of passengers and goods by air. The Act defines the liability of the air carrier for death of or injury to passengers and for loss of or damage to registered luggage and cargo. The provisions of the Act also apply, with some changes, to domestic carriage, that is, carriage within India.

The new Act lays down various rules for both common carrier and for the consignor and/or consignee for the carriage of goods by road.

This Act defines the minimum rights, liabilities and immunities of a ship-owner in respect of loss or damage to cargo carried. Broadly speaking the Act deals with aspects of ship owner’s liabilities towards cargo owners. Broadly the Act deals with three aspects of a ship owner’s liabilities towards cargo owners (a) The circumstances when the ship-owner is deemed to be liable for loss or damage to cargo unless he proves otherwise. (b) The circumstances when the ship-owner is exempted from liability, i.e., when loss or damage is caused by events outside his control, e.g., perils of the sea, and (c) The limits of liability of a ship-owner for loss of or damage to cargo calculated in monetary terms per package or units of cargo.

This Act defines the rights and liabilities of truck owners or operators who carry goods for public hire in respect of loss or damage to goods carried by them. The Act also prescribes the time limit within which notice of loss or damage must be filed with the road carriers.

The act provides for provisions for levying central excise duty on goods manufactured or produced in India, the collection of duty, refund, adjustment and/or penal provisions for breach of provisions.

Have fixed certain responsibilities on the consignor, the transporter and also the driver for the safe carriage of hazardous goods.

The Act makes the provisions of the said Act applicable to the extent that they are not inconsistent with the provisions of the Insurance Act, 1938 and IRDAI Act, 1999. In other words, if there is a conflict between the provisions of Companies Act and Insurance (or IRDAI Act), the latter shall prevail. Besides, Act provides for definition of Key Managerial Personnel and also provisions relating to incorporation of a Company.

The Act provides for establishment of a Commission to prevent practices having adverse effect on competition and to enquire into anti-competitive agreements like Cartel, bid rigging etc., enquiring into abuse of dominant position like predatory pricing, regulate combinations like mergers, acquisitions etc and undertake competition advocacy including advise on policy issues, creating public awareness and imparting training on competition issues.