Amendment status not verified — confirm the current text below against the official source.
Exemption from compulsory registration of instrument relating to shares and debentures of a registered society---Nothing in clauses (b) and (c) of sub-section (1) of Section 17 of the Indian Registration Act, 1908 shall apply to- (1) any instrument relating to shares in registered society notwithstanding that the assests of such society consist in whole or in part·of immovable property; or (2) any debenture by any such society and not creatinig, declaring, assigning or extinguishing any, right, title or interest to or in immovable property except in so far as it entitles the holders to the security afforded by a registered instrument where by 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 debentures; or (3) any endorsement upon or transfer of any debenture issued by any such society '[x x x] Comments & case-law [The State Government exercises supervisory jurisdiction only under section 65A. Chandrika Jha • State of Bihar, 1984 PLJR (SC) 1. see also Abdul Gafoor v. State of Bihar, 1983 PLJR 196 : AIR 1983 Pat. 114. The provisions of section 56 are not in pari materia with those of section 65A of the Act, and section 65 has not such an overriding effect, as section 65A. Section 65A does nothing more than provide that instead of the Registrar deciding the