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Section 37: Exemption from compulsory registration of instruments

The Punjab Co-Operative Societies Act, 1961Union territory Act of Chandigarh · Act 25 of 1961

Nothing in clauses (b) and (c) of sub-section (1) of section 17 of the Indian Registration Act, 1908 (XVI of 1908), shall apply to-

(1) any instrument relating to shares in a co-operative society notwithstanding that assets of the society consist in whole or in part of immovable property; or

(2) any debenture issued by any such society and not creating, declaring, assigning, limiting or extinguishing any right, title or interest to or in immovable property, except in so far as it entitles the holder thereof to the security afforded by a registered instrument whereby the society has mortgaged, conveyed, or THE PUNJAB COOPERATIVE SOCIETIES ACT, 1961 40 8TH FINAL PRINT AS ON 05.10.2006 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) an endorsement upon or transfer of any debenture issued by any such society.

SECTION- 38

Where this provision sits

ActThe Punjab Co-Operative Societies Act, 1961
Section37
Marginal noteExemption from compulsory registration of instruments
JurisdictionUnion territory of Chandigarh
StatusIn force as published by the source

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