MCOS Act 49अध्याय VI · Privileges of Registered Society

धारा 49 · Exemption from compulsory registration and personal attendance for registration of instruments

- 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 registered society, notwithstanding that assets of such 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 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 of 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 society; or

(4)

notwithstanding anything contained in the Indian Registration Act, 1908 it shall not be necessary for any office bearer of a registered society or a liquidator 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 sing as provided in Section 58 of that Act; or

(5)

where any instrument is so executed, the registering office to whom such instrument is presented for registration may, if he thinks fit, refer to such office bearer or liquidator for information regarding, the same and on being satisfied of the execution thereof, shall register the instrument.

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