(1) Whenever goods deposited in a licensed warehouse deteriorate or show signs that they are about to deteriorate from causes beyond the control of the warehouseman, the warehouseman shall forthwith give notice of the fact to the depositor, requiring him to take delivery of the goods immediately, after surrendering the warehouse receipt duly discharged and paying all charges due to the warehouseman. and shall simultaneously send a copy of such notice to the local representative of the Warehouse Authority.
(2) If the depositor does not, within a reasonable time, comply with the notice given to him under sub-section (1), the warehouseman may cause the goods to be removed from the warehouse and sold in the prescribed manner by public auction at the cost and risk of the depositor.
(3) The proceeds of a sale held under sub-section (2) shall be made over by the warehouseman to the depositor after deducting therefrom all amounts due to the warehouseman on account Of charges for the storing of the goods and the costs of the sale.