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 19 of the Registration Act, 1908, shall apply:— (a) any instrument relating to shares in a Co-operative society; or (b) any debenture issued by any Co-operative society without creating, declaring, assigning, limiting or extinguishing any right, title or interest to or in any immovable property except in so far as it entitled the holder of the debenture to the security by a registered instrument whereby the Co-operative society has mortgaged, conveyed or otherwise transferred the whole or part of its immovable property or interest therein to trustee upon trust for the benefit of the holder of the debenture; or (c) any endorsement upon, or transfer, of any debenture issued by any Co- operative society. Appointment of sale officer. Utilisation of the sale proceed. Charge and set off of shares and interests. Deduction of dues to Co- operative societies from members and sureties. Exemption from compulsory registration of instruments relating to shares and debentures of Co-operative society and mortgage deeds executed in favour of Co- operative agriculture and rural deve- lopment bank or primary Co- operative society. 4 of 1936. 16 of 1908. PART III] THE KOLKATA GAZETTE, EXTRAORDINARY, MAY 25, 2010 43 The West Bengal Co-operative Societies Act, 2006. Power to remit duties, fees, etc. and to grant preference and exemption. Compromise or arrangement between Co- operative society and its creditor. (Chapter V—Duties and obligations of Co-operative societies.—Sections 61, 62.) (2) Notwithstanding anything contained in the Registration Act, 1908, it shall not be necessary to register a mortgage deed executed in favour of a Co-operative agriculture and rural development bank or a primary Co-operative of whiCh the major- ity of the members are agriculturists: Provided that the manager of any Co-operative agriculture and rural develop- ment bank or the financing bank which advanced loan to the primary Co-operative society shall send 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 situated and the registering officer shall file such copy in his book no. 1 prescribed under section 51 of the Registration Act, 1908. (3) A copy of mortgage deed referred to in sub-section (2) of section 60 duly certified by the manager or branch manager, shall be sent to the registering officer through a messenger or by registered post with acknowledgement due within thirty days from the date of its execution.