Disputes between bank and co-operative society.

(1) Notwithstanding anything contained in the Co-operative Societies Act or any other law for the time being in force, any dispute touching the constitution management or business of a co-operative society between a bank which has given to a co-operative society any money, loan or advance for the purpose of providing financial assistance to its members and the co-operative society to which such money, loan or advance has been given, other than disputes regarding disciplinary action taken by the society or its committee against paid employee of the society shall be referred by either of the parties to the dispute to the Registrar for decision. (2) Where any question arises whether, for the purposes of sub-section (1), a matter referred to for decision is a dispute or not the question shall be decided by the Registrar, whose decision shall be final.