Execution and registration of contracts, etc

(1) every contract or assurance or property on behalf of the Board shall be in writing and executed by such authority and in such manner as may be prescribed. (2) Notwithstanding anything contained in the Indian Registration Act, 1908 (Act 16 of 1908), it shall not be necessary for the Managing Director or any officer of the Board authorised to execute on behalf of the Board any agreement or other instrument to appear in person or by agent at any registration office in any proceedings connected with the registration of any such agreement or instrument or to sign as provided in section 58 of that Act: Provided that the registering officer to whom such instrument is presented may, if he thinks fit refer to the Managing Director or such officer for information respecting the same and shall, on being satisfied of the execution thereof, register the instrument.