Amendment status not verified — confirm the current text below against the official source.
Exemption from compulsory registration of instruments:- Nothing in clauses (b) and (c) of sub-section 17 of the Registration Act, 1908 (16 of 1908) shall apply to – (1) any instruments relating to shares in a co-operative society notwithstanding that the assets of the society consist in whole or in part of immovable property; or (2) any debenture issued by any such society and not creating declaring, assigning, limiting or extinguishing any right, title or interest to or in immovable property to except in so far as it entitles the holder thereof to the security afforded by a registered instrument whereby the society has mortgaged, conveyed, or otherwise transferred the whole or part of its immovable property or any interest therein to trustees upon trust for the benefit of the holders or such debentures; or (3) an endorsement upon or transfer of any debentures issued by any such society.