State Act

The Bihar Co-operative Societies Act, 1935

65. Exemption from compulsory registration of instrument relating to shares and debentures of a registered society.– Nothing in clauses (b) and (c) of sub-section (1) of Section 17 of the Indian Registration Act, 1908 shall apply to – (1) any instrument relating to shares in registered society notwithstanding that the assets of such society consist in whole or in pat of immovable property; or (2) any debenture by any such society and not creating, declaring assigning or extinguishing any, right, title or interest to or in immovable property except in so far as it entitles the holders to the security afforded by a registered instrument where by its immovable property or any interest therein to trustees upon trust for the benefit of the holders of such debentures; or (3) any endorsement upon or transfer of any debenture issued by any such society