Amendment status not verified — confirm the current text below against the official source.
Every society shall keep, at the registered address of the society, a copy of this Act and the rules and of its bye-laws and a list of members, open to inspection to the public free of charge, during office hours or any house fixed by the society thereof. 41.(1) A copy of any entry in any book, register of list, regularly kept in the course of business and in the possession of a society, shall, if duly certified in such manner as may be prescribed be admissible in evidence of the existence of the entry, and shall be admitted as evidence of the matters and transactions therein recorded in every case where, and to the same extent to which, the original entry would if produced, have been admissible to prove such matters. (2) In the case of such societies, as the Government may by general or special order, direct, no officer of a society shall in any legal proceedings to which the society is not a party, be compelled to produce any of the society's books the contents of which can be proved under the foregoing sub-Section or to appear as witness to prove the matters transactions and accounts therein recorded, unless required to do so by order the Court or a judge made for any special reason. 42.Nothing in clauses (b) and (c) of sub-section (1) of section 17 of the Indian Registration Act, 1908, shall apply - a. To any instrument relating to shares in a society, notwithstanding that the assets of the society consist in whole or in part of immovable property ; or b. To any debentures issued by any society and not creating, declaring, assigning, limiting or extinguishing any right, title or interest to or in immovable property, except in so far as it entitles the holder 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 of such debenture ; or c. To any endorsement upon, or transfer of, any debentures issued by any society. Societies bodies to be corporate. Address of societies. Register of members. Copy of Act etc. to be open to inspection. Admissibility of copy of entry as evidence. XVI of 1908 Exemption from compulsory registration and instruments relating shares ar debentures 43.The Government, by notification in the Official Gazette, may in the case of any society or class of societies, remit, a. The stamp with which under any law relating to stamp duty for the time being in force, instruments executed by or on behalf of a society by on officer or member thereof and relating to the business of the society or any class of such instruments or awards of the Registrar or his nominee or board of nominees under this Act are respectively chargeable. b. Any fee payable by or on behalf of a society under the relating to the registration of documents and to court fees for the time being in force, and c. Any other tax or fee or duty (for any portion thereof) payable or on behalf of a society under any law for the time being in force, which the Government is competent to levy. 44.A Society shall receive deposits and loans from members and other persons, only to such extent, and under such conditions as may be prescribed, or specified by the Bye- laws of the society. 45.(1) No society shall make a loan to any person other than a member, or on the security of its own shares or on the security of any person who is not a member. Provided that with the special sanction of the Registrar, a society may make loans to another society: (2) Notwithstanding anything contained in the foregoing sub-section a society may make a loan to a depositor on the security of his deposit. (3) If, in the opinion of the Government, it is necessary in the interest of the society or societies concerned to do so, the Government may by general or special order, prohibit, restrict or regulate the lending of money by any society or class of societies on the security of any property. 46.Same as is provided in this Act, the transaction of a society with persons other than members, shall be subject to such restrictions, if any, as may be prescribed. 47.A society shall have a charge upon the share or interest in the capital, and on the deposits, of a member or past member or deceased member, and upon any dividend, bonus or profits payable to any such member, in respect of any debt due, from such member or his estate to the society ; and the society may set-off any sum credited or payable to such member in or towards payment of any such debt : Provided that no Co-operative bank shall have a charge upon any sum invested with it by a society out of the provident fund established by it under section 72 or its reserve fund ; and no co-operative bank shall be entitled to set-off any such sum towards any debts due from the society. 48.(1) Notwithstanding anything in any other law for the time being in force, but subject to any prior claim of Government in respect of any money recoverable as a public demand and to the provisions of sections 60 and 61 of the Code of Civil Procedure, 1908 or the analogous law in force in the State of Arunachal Pradesh. (a) Any debt or outstanding demand, owed to a society by any member or past member or deceased member, shall be a first charge -