(1) Subject to the provisions of section 33, the share or contribution or interest of a member or past member or deceased member in the or interest capital of a co-operative society shall not be liable to attachment or sale under any decree or order of any court in respect of any debt or liability any law relating to insolvency shall not be entitled to or have any claim on such share or contribution or interest.
(2) The reserve fund, or the bad debt reserves, or the provident fund of the employees, o f . a co-operative society invested by such society in accordance with the provisions of this Regulation and the rules shall not be liable to attachment under any decree or order of a court in respect of any debt or liability incurred by the society.
Register of 35. Any register or list of members or shares kept by any co-operative membzrs. society shall be prima facie evidenc.e of any of the following particulars entered therein, namely: -
(a) the date on which any person entered in such register or list became a member;
(b) the date on which any such person ceased to be a member.
entry as as may be prescribed, be received in any suit or legal proceedings as evidence. prim,a facie evidence of the existehce of such entry and shall be admitted as evidence of the matters, transactions and accounts therein recorded in every case where, and to the same extent as, the original entry itself is admissible.
(2) No oficer of a co-operative society and 110 officer in whose office l.he books of a co-operative. society are deposited after liquidation shall, ill any leg21 procet:cIings to ~ ? l ~ i c l l t!lc society or thc liquiditor is r!ot a l:urty, hc compelled to produce any of the society's bsolrs or documents 1-hc. cc;fitcnts of n;]li& i ) l i ) ~ ~ d ~ l ~ d ~ r . f.!li:'. S C C ~ ~ O ! ~ , 01' k.0 al3j)!?;?l' L\S a witness to prove the mattel-s; tr.ansaclioiis anti accou!lts 'tll2i'eifl ~ .ecorded , c:icept urlder an ol-ilcr of :* court or. an arl!if,rnt!o, ~ n a d c for spacial cause, SEC. 11 THE GAZETTE OF INDIA EXTRAORDINARY - - -53 - - - -- --
1908. 37. Nothing in clauses (b) and (c) of sub-section (1)-of section 17 of Exernptiul.
the Registration Act, 1908 shall apply to- from compulsory
(1) any instrument relating to shares in a co-operative society regislranotwithstanding Ynat the asset: of the society consist in whole or in tionof - part of immovable property; or instruments.
(2) any debenture issued by any such society and not creating, declaring, assigning, limiting or extinguishing any riglit, title or interest to or in immovable property except in so far as it entitles the holder tnereof to the security afforded by a registered instrument whereby the society has mortgaged, conveyed, or otherwise transferred the whole or part of its immovable property or any interest therein to trustees upon trust for the benefit of the holders of such debentures; or
(3) asn endorsement upon ox transfer of any debenture issued by any such society.
38. If the Chief Commissioner is of opinion that it is necessary in the Exemppublic interest so to do, he may, by notification in the OXcial Gazette,- tio'.lfrom certain ( a ) remit in respect of any class of co-operative societies any fee taxes, fees payable under any law for the time being in force relating to the and registration of documents or court-fees; duties.
(b) exempt any class of co-operative societies from payment of-
(i) land revenue;
(ii) taxes oil agricultural income;
(iii) taxes on sale or purchase of goods; or
(iv) taxes on professions, trades, callings and employments.