(1) Notwithstanding anything contained in the Registration act, 1908, a charge in respect of which a declaration has been made under sub-section (1) of section 6 or in respect of which a variation has been made under sub-section (2) of that section, or a mortgage of any land or interest therein or other immovable property executed by an agriculturist in favour of a bank in respect of financial assistance given by that bank, shall be deemed to have been duly registered in accordance with the provisions of that Act with effect from the date of execution of such charge, variation or mortgage, as the case may be, provided the bank has sent to the Sub-Registrar within the local limits of whose jurisdiction the whole or any part of the property charged or mortgaged is situate, within a period of one month from the date of such execution by registered post acknowledgement due, a copy of the document creating such charge, variation or ,mortgage duly certified to be a true copy by an employee of the bank authorized to sign on its behalf and the sub-Registrar has filled it in Book No. 1 prescribed under section 51 of the Registration Act , 1908.
(2) The Sub-Registrar shall, as soon as may be, on receipt of the copy of the document referred in sub-section (1) and after ascertaining that said document is duly stamped, file the copy in Book No. 1 prescribed under section 51 of the Registration Act, 1908.
(3) Where the Sub-Registrar is of the opinion that the said document is not duly stamped or suffers from any defect arising out of an accidental slip or omission, he shall send back the copy of the document to the bank requiring it to get the deficiency in the stamp duty made good on the original or to get the defect removed within thirty days or within such extended time as the sub-Registrar may allow in that behalf. (3-A) The bank shall get the deficiency made good or the defect removed, notwithstanding anything contained in the Indian stamp Act, 1899 1
(4) After the deficiency in stamp has been made good or as the case may be the defect has been removed2 the Bank shall send the copy of the document again to the Sub-Registrar in the manner laid down in sub-section (1) and thereupon the Sub-Registrar shall file the copy in Book No. 1 in accordance with the provisions of subsection (2).
(5) Notwithstanding anything contained in the Registration Act, 1908, it shall not be necessary for the agriculturist or any officer of the bank to appear in person or by agent in any registration office in any proceeding connected with the registration of the document or to sign as provided in section 58, of the said Act.