Disputes between a bank and co-operative society

(1) Notwithstanding anything contained in any other law for the time being in force any dispute touching the constitution, management or the business of a co-operative society; between a bank financing a co-operative society and co-operative society so financial other than dispute regarding the disciplinary action taken by the society or its committee against a paid employee of the society, shall be referred by either of the parties to the dispute to the Registrar of co-operative Societies for decision. (2) Where any question arises whether, for purposes of the foregoing subsection, a matter referred to for decision is a dispute or not, the question shall be decided by the Registrar of Co-operative Societies whose decision shall be final.