Share or interest not liable to attachment

Notwithstanding anything contained in any law for the time being in force but subject to the provision of section 45 of this Act, the share or interest of a member in the capital of a registered co-operative society or any fund under section 54 of the Act shall not be liable to attachment or sale under any decree or order of a court in respect of any debt or liability incurred by such member nor be subjected to any claim by a receiver under the Provincial Insolvency Act, 1920(Act V of 1920).