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 creating, 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 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 debentures; or (3) any endorsement upon or transfer of any debenture issued by any such society 42/46 [65A. The power of the State Government to review the order of the Registrar. - Notwithstanding anything to the contrary contained in this Act, the State Government may, of its own motion or on an application made to it by any party aggrieved by the constitution or reconstitution, amalgamation, election, supersession, liquidation or any other matter concerning working of the society call for any record of inspection or enquiry made under this Act or proceedings of any matter pending before the Registrar or his subordinate or any person acting under his authority and examine and pass such orders as it may deem fit.] [65B. Removal of difficulty. - If any difficulty arises in giving effect to the provisions of this Act the State Government may, as occasion may require, by order published in official Gazette, to anything not inconsistent with the provisions of this Act for purpose of removing the difficulty.]