Chapter 10 MISCELLANEOUS

1. (1) The Government may, by notification in the official gazette, exempt or remit in respect of any Co-operative or class of Co-operatives—
   • (a) the stamp duty chargeable under any law for the time being in force in respect of all class of instruments executed by or on behalf of a Co-operative or by an officer or member thereof and relating to the business of such Co-operative or in respect of any award or order made under this Act, in cases where, but for such remission the Co-operatives, its officer or member as the case may be, would be liable to pay such stamp duty; or
   • (b) any fee payable under any law for the time being in force relating to the registration of documents or court fees: Provided that nothing in clause
   • (a) shall apply in respect of bills of exchange, cheques, promissory notes, bills of lading, letters of credit, policy of insurance, transfer of shares, debentures, Proxies and receipts.
2. (2) The Government may, by notification, exempt any class of Co-operatives from taxes on—
   • (a) agricultural income;
   • (b) sale or purchase of goods; or
   • (c) professions, trades, calling and employment.

Nothing in clauses

1. (b) and
2. (c) of sub-section

1. (1) of section 17 of the Registration Act, 1908, shall apply to-
   • (a) any instrument relating to shares in a Co-operative notwithstanding that the assets of the Co-operative consists in whole or in part of immovable property ; or
   • (b) any debentures issued by any such Co-operative and not creating, declaring, assigning, limiting or extinguishing, any right, title or interest to or in immovable property, except so far as it entitles the holder to the security afforded by a registered instrument whereby the Co-operative has mortgaged, conveyed or otherwise transferred the whole or a part of its immovable property or any interest therein to trustee upon trust for the benefit of the holders of such debentures : or
   • (c) any endorsement upon or transfer of any debenture issued by any such Co-operatives.

1. (1) If any difficulty arises in giving effect to the provisions of this Act, the Government may, by order published in the Gazette, make such provisions not inconsistent with the provisions of this Act, as may appear to be necessary for removing the difficulty : Provided that no such order shall be made after the expiry of a period of two years from the date of commencement of this Act.
2. (2) Every order made under this section shall, as soon as it is made, shall be laid before the State Legislature for a period of fourteen days which may be comprised in one or more sessions.

A Co-operative registered under this Act shall not be entitled to receive any share capital, guarantee or loan from the Government.