Section 151 in Uttarakhand Co-Operative Societies Act, 2003
151. Registration of documents executed in favour of Uttarakhand State co-operative Bank.
(1)Notwithstanding anything contained in the Registration Act, 1908 or any other law for the time being in force a deed creating charge or mortgage in any land or interest therein or other immovable property executed by a borrower member in favour of Uttarakhand State co-operative Bank for the purpose of securing repayment of loan, shall be deemed to have been duly registered in accordance with that Act with effect from the date of its execution 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 in situated within a period of three months from the date of execution, by registered post or hand delivery under acknowledgement a copy of the document creating such charge 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 concerned shall file such copy or copies, as the case may be in his book no.1 prescribed under section 51 of the Registration Act, 1908.(2)Where the sub-registrar is of the opinion that the said document is not duly stamped or suffers from any defect arising out of the accidental slip or omission, he shall send the copy or the copies as the case may be, of the documents to the bank requiring it to get the deficiency in 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. The bank shall get the deficiency made good or the defect removed, not withstanding anything contained in the Indian Stamps Act, 1899.(3)After the deficiency in stamp duty has been made good or as the case may be, the defect has been removed, the bank shall send the copy of the document again to the Sub-Registrar in the manner laid down in sub-section (1), and there upon the sub-Registrar shall file the copy in Book no.1 in accordance with the provisions of sub-section (1).(4)Notwithstanding anything contained in the Registration Act, 1908 it shall not be necessary for the borrower member, the Trustee or for any officer of Uttarakhand State co-operative Bank to appear in person or by agent at any registration office in any proceedings connected with the registration of any instrument executed by him in his official capacity or to sign as provided in section 58 of the said Act.
