Nothing in clauses (b) and (c) of sub-seclion (1) of lection 17 of the Indian Registration Act, 1908 (XVI of 1908), shall apply to :—
(1) any instntment relating to shares in a registered society, notwithstanding that assets of such society consists in whole or in part of immovable property; or
(2) any debenture issued by any such society and not creating, declaring.
; issigning, limiting or extinguishing any right, tide or interest to or in immovable • properly, except in so far as it entitles the bolder to the security afforded by a ■ register.: d 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 holder of such debentures : or « (3) any endorsement upon or transfer of any debenture issued by any such j society.
; (4) Notwithstanding anything contained in the Indian Registration Act, 1908, l it shall not be necessary for any office bearer ot a registered society or a liqiiR ; dator of a society to appear in person or by agent at any registration office in ( any proceeding connected with the registration of any instrument executed by him in his official capacity or to sign as provided in section 58 of that Act.
(5) Where any instrument is so executed, the registering officer to whpn | such instrument is presented for registration may. if he thinks tit, refer to sucl ' office bearer or liquidator for information regarding the same and on beinj fe satisfied of the execution thereof, shall register the instrument.