Section 58

Despite section 57, the Corporation must, on application made to it by the owner of any vessel, enter into a contract with the owner by which the Corporation accepts liability for any loss caused by reason of short delivery by the Corporation of any goods deposited with or placed in the custody or control of the Corporation or any failure by the Corporation to deliver or account for them.

For the purposes of this section, the Corporation may prescribe the terms and conditions of the contract and may, with the Minister’s approval, prescribe the rates to be levied.

The Corporation may refuse to enter into such contract unless the contract is in respect of all of the goods to be loaded into or discharged from a vessel, as the case may be.