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Section 38C: Exemption from compulsory registration.

The National Bank for Agriculture and Rural Development Act, 1981Central Act · Act 61 of 1981

[38C.Exemption from compulsory registration.--Notwithstanding anything contained in subsection (1) of section 17 of the Registration Act, 1908 (16 of 1908)--

(a) any instrument in the form of debt obligations or trust certificate of beneficial interest or any other instrument, by whatsoever name called, issued by the National Bank or the trust created by it to securitise the loans granted by it and not creating, declaring, assigning, limiting or extinguishing any right, title or interest to or in immovable property; or

(b) any transfer of such instruments referred to in clause (a), shall not require compulsory registration.]

Where this provision sits

ActThe National Bank for Agriculture and Rural Development Act, 1981
Section38C
Marginal noteExemption from compulsory registration.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted. . Ins. by s. 24, ibid. (w.e.f. 1-2-2001).

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