Share or interest, etc., not liable to attachment

The share or interest, of a member in the capital of a society or of an employee in the provident fund established under section 49 or the contribution made by a member or past member or from the estate of a deceased member or by any officer or former officer under section 66, or the reserve fund of a society or the bad debts reserve of a Society or the provident fund of its employees invested under section 46, 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, or officer; and an official assignee or a receiver under any law relating to insolvency shall not be entitled to, or have any claim on such share, interest, contribution or fund.