Exemption from compulsory registration of instruments

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.