Section 52 in Sikkim Co-Operative Societies Act, 1978
52. Exemption from compulsory registration of instruments.
- No provision relating to registration of documents contained in any law for the time being in force apply to -(1)any instrument relating to shares in a society notwithstanding that the assets of the society consist in whole or in part of immovable property; or(2)any debenture or bond 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 thereof to the security afforded by a registered instrument whereby the society has mortgage conveyed, or otherwise transferred the whole or part of its immovable property or any interest therein to trustees upon trust for the benefit of the holders of such debentures or bonds; or(3)any endorsement, upon or transfer of any debenture or bond issued by any such society.
