Amendment status not verified — confirm the current text below against the official source.
(1) Nothing in clauses (b) and (c) of sub-section (1) of section from compulsory 17 of the Registration Act, 1908 shall apply to,— registration (a) any instrument relating to shares in a co-operative of instruments society; or relating to shares and (b) any debenture issued by any such society and not creating, debentures of declaring, assigning, limiting or extinguishing any right, co-operative society and title or interest to or in immovable property, except in so mortgage- far as it entitles the holder to the security afforded by a deeds executed in registered instrument whereby the society has mortgaged, favour of conveyed or otherwise transferred the whole or part of its co-operative land immovable property or any interest therein to trustees upon development trust for the benefit of the holders of such debentures; or bank or primary (c) any endorsement upon or transfer of any debenture issued society. by any such society. (2) Notwithstanding anything contained in the Registration Act, 1908, it shall not be necessary to register the mortgage-deed in respect of a mortgage of immovable property executed in favour of a co-operative land development bank or a primary society, of which the majority of the members are agriculturists, for the purpose of securing the repayment of a loan: Provided that the manager of, or any officer of the Government deputed by the State Government or the Registrar under section 24 to, such land development bank or where the mortgage has been executed in favour of a primary society, the manager of, or any officer of the Government deputed by the State Government or the Registrar under section 24 to, the central bank to which such society is affiliated, shall send, within such time and in such manner as may be prescribed, a copy of the mortgage-deed to the Registering Officer within the local limits of whose jurisdiction the whole or any part of the immovable property is situate, and the Registering Officer shall file such copy in his Book No. 1 prescribed under section 51 of the Registration Act, 1908. 16 of 1908. 190 The West Bengal Co-operative Societies Act, 1973. XXXVIII of 1973.1 (Chapter V.—Privileges of co-operative societies.— Section 53.)