The Major Port Authorities Act, 2021

Chapter IV — POWERS OF BOARDS OF MAJOR PORT AUTHORITIES IN RESPECT OF LOANS AND SECURITIES A. FINANCIAL POWERS OF BOARDS OF MAJOR PORT AUTHORITIES

Section 35Endorser of security not liable for amount thereof

Read in the full Act

Section 35: Endorser of security not liable for amount thereof

35. Endorser of security not liable for amount thereof

Notwithstanding anything contained in the Negotiable Instruments Act, 1881 (26 of 1881), a person shall not by reason only of his having endorsed any port security be liable to pay any monies due, either as principal or as interest thereunder.