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THE
CO-OPERATIVE SOCIETIES ACT, 1925
(Sind Act VII of
1925)
C O N T E N T S
CHAPTER I
PRELIMINARY
Sections
1. Short title.
2. Extent.
3. Definitions.
CHAPTER
II
REGISTRATION
4. The Registrar.
4-A. Power of Registrar to issue search warrant.
5. Societies which may be registered.
6. Restrictions on interest of member of society with limited liability and a share capital.
7. Conditions of registration.
8. Power of Registrar to decide certain questions.
9. Application for registration.
10. Registration.
11. Evidence of registration.
12. Annual general meeting.
13. Special general meeting.
14. Change of name: its effect.
15. Amalgamation or transfer of societies.
16. Amendment of the by-laws of a society.
16-A. Powers of the Registrar to amend bye-laws.
CHAPTER
III
RIGHTS
AND LIABILITIES OF MEMBERS
17. No rights of membership to be exercised till due payments are made.
17-A. Special provisions for membership of resource societies.
18. Votes of members.
18-A. Disqualification for being , and for voting at an election of Director, Manager or other officer of the society.
19. Restrictions on transfer of share or interest.
CHAPTER
IV
DUTIES
OF SOCIETIES
20. Address of societies.
21. Copy of Act etc., to be open to inspection.
22. Audit.
22-A. Power of Registrar to exercise powers under section 50-A in the course of an audit.
CHAPTER
V
PRIVILEGES
OF SOCIETIES
23. Societies to be bodies corporate.
24. Prior claim of society.
25. Charge and set-off in respect of shares or interest of member.
26. Shares or interest not liable to attachment.
27. Transfer of interest on death of member.
28. Liability of past member.
29. Liability of the estates of deceased members.
30. Register of members.
31. Admissibility of copy of entry as evidence.
32. Exemption from compulsory registration of instruments relating to shares etc of society.
33. Power to exempt from income-tax, stamp-duty, registration and court fees.
33-A. Provincial Government may give loans or guarantee interest or return.
CHAPTER
VI
PROPERTY
AND FUNDS OF SOCIETIES
34. Restrictions on loans.
35. Restrictions on borrowing.
36. Restrictions on other transactions with non-members.
37. Investment of funds.
38. Restrictions on dividend.
39. Reserve Fund.
40. Restriction on distribution of profits.
41. Provident fund.
42. Contribution to charitable purpose.
CHAPTER
VII
INSPECTION OF AFFAIRS
43. Inquiry by Registrar.
44. Inspection of books of indebted society.
44-A. Inspection of books by financing bank.
44-B. Power of Registrar to exercise powers under section 50-A in the course of an inquiry or inspection.
44-C. Power to remove officers.
44-D. Power of Registrar to give directions.
44-E. Special measures.
45. Costs of inquiry.
46. Recovery of costs.
CHAPTER
VIII
LIQUIDATION
AND ARBITRATION
47. Winding up.
48. Society may be wound up if membership is reduced.
49. Effect of cancellation of registration.
50. Power of a liquidator.
50-A. Power of Registrar to assess damage against delinquent promoters, etc.
51. Bar of suit in winding up and dissolution matters.
52. Disposal of surplus assets.
53. Surplus assets of housing society.
54. Arbitration.
54-A. Registrar's power to set aside the award and order the dispute to be referred back to arbitration.
55. Attachment before award.
56. Appeal against award of arbitrator.
57. Finality of awards in certain orders.
58. Powers to enforce attendance.
59. Money how recovered.
Powers of Registrar to recover certain sums by attachment and sale of property.
Registrar
or person empowered by him to be a
59-A. Transfer of property which cannot be sold.
CHAPTER
VIII-A
DISTRAINT
59-B. Definitions.
59-C. Cases in which application for distraint may be made.
59-D. Form of application.
59-E. Procedure on receipt of application.
59-F. Execution of order for distraint.
59-G. Service of notice of demand and the grounds of distraint.
59.H. Right to reap, etc., produce.
59.
59.K. Provisions relating to growing crops.
59.L. Manner of sale.
59.M. Postponement of sale.
59.N. Payment of purchase money.
59.O. Certificate be given to the purchaser.
59.P. Proceeds of sale how to be applied.
59.Q. Certain persons may not purchase.
59.R. Procedure where demand is paid before the sale.
59.S. Distraint of property which is under attachment.
59.T. Suit for compensation for wrongful distraint and appeals.
59.U. Savings.
CHAPTER
IX
OFFENCES
60. Offences.
Default by a society, officer or member.
Wilful neglect or default by a society, etc.
Wilful furnishing of false information.
Disobedience of summons, requisition, or order.
61. Penalty for offences not otherwise provided for.
62. Prohibition of the use of the word "co-operative".
62.A. Penalty.
63. Cognizance of offences.
CHAPTER
X
APPEALS
AND REVISIONS
64. Appeal.
64.A. Power of Provincial Government and the Registrar to call for proceedings of subordinate officers and to pass orders thereon.
64.AA. Finality of orders of Provincial Government.
CHAPTER
XI
MISCELLANEOUS
65. Recovery of sums due to Government.
65.A.
65.B. Officers of societies to be public servants.
66. Power to exempt societies from conditions as to registration.
67. Powers to exempt societies from provisions of Act.
68. Companies Act not to apply.
69. Branches, etc., of societies outside the province.
70. Notice necessary in suits.
70.A. Bar of Jurisdiction.
71. Rules.
72. Repeal and savings.
72.A. Construction of references to Co-operative Societies Act, 1912, in enactments.
72.B. [Repealed]
73. [Repealed]
SCHEDULE
[Repealed]
[1]THE CO-OPERATIVE SOCIETIES ACT, 1925
(Sind Act VII of 1925)
[
An Act to consolidate and amend the law
relating to co-operative societies in
[2][the
WHEREAS it is expedient further to facilitate the formation and working of co-operative societies for the promotion of thrift, self-help and mutual aid among agriculturists and other persons with common economic needs so as to bring about better living, better business and better methods of production and for that purpose to consolidate and amend the law relating to co-operative societies in [3][the Province of West Pakistan]; and whereas the previous sanction of the Governor-General required by sub-section (3) of section 80-A of the Government of India Act has been obtained for the passing of this Act;
It is hereby enacted as follows:-
[4][CHAPTER I
PRELIMINARY]
1. Short title.— This Act may be called the [5][* * *] Co-operative Societies Act, 1925.
[6][2. Extent.—
This Act extends to the whole of the
3. Definitions.— In this Act, unless there is anything repugnant in the subject or context,
(a) “by-laws” means by-laws registered under this Act and for the time being in force and includes a registered amendment of such by-laws;
(b) “Committee” means the Committee of Management or other directing body to whom the management of the affairs of a society is entrusted;
[7][(bb) “Financing Bank” means a society the main object of which is to make loans in cash or in kind to any other society or to an agriculturist who is not a member of a society or to both societies and such agriculturists;]
[8][(bbb) “Loan” includes finance as defined in the Banking Tribunals Ordinance, 1984[9] and all cognate expressions shall be construed accordingly];
(c) “Member” includes a person joining in the application for the registration of a society or a person admitted to membership after registration in accordance with the rules and by-laws applicable to such society;
(d) “Officer” includes a Chairman, Secretary, Treasurer, member of committee or other person empowered under the rules or under the by-laws of a society to give directions in regard to the business of such society;
(e) “Society” means a society registered or deemed to be registered or deemed to be registered under this Act;
(f) “Registrar” means a person appointed to perform the duties of a Registrar of Co-operative Societies under this Act;
(g) “Rules” means rules made under this Act;
(h) (1) a “resource society” means a society formed with the object of obtaining for its members the credit, goods or services required by them;
(2) a “producers’ society” means a society formed with the object of producing and disposing of goods as the collective property of its members and includes a society formed with the object of the collective disposal of the labour of the members of such society;
(3) a “consumers’ society” means a society formed with the object of obtaining and distributing goods to or of performing services for its members, as well as to other consumers and of dividing among its members and customers in a proportion prescribed by the rules or by the by-laws of such society, the profits accruing from such supply and distribution;
(4) a “housing society” means a society formed with the object of providing its members with dwelling houses on conditions to be determined by its by-laws;
(5) a “general society” means a society not falling under any of the four classes above-mentioned.
The Registrar
shall classify all societies under one or other of the above heads and his
decision shall be final.
A society formed with the object of facilitating the operations of any one of the above classes of societies shall be classified as a society of that class.
A list of all such societies, so classified shall be published annually in the [10][Official Gazette].
[11][CHAPTER II
REGISTRATION]
4. The Registrar.—
[12][The Provincial Government] may appoint a person
to be Registrar of Co-operative Societies for
[13][the Province] or any portion of it, and may
appoint a person or persons to assist such Registrar, and may , by general or
special
order, confer on any such person or persons all or any of the powers of
a Registrar under this Act.
[14][4-A. Power of Registrar to issue search warrant.— (1) For the purpose of recovering any papers, documents or books of account belonging to a society, the Registrar may issue a search warrant and exercise all such powers with respect thereto as may be lawfully exercised by a Magistrate under the Provisions of Chapter VII of the Code of Criminal Procedure, 1898, and all such searches shall be made in accordance with the Provisions of that Code.
(2) The powers under sub-section (1) shall not be exercised by the Registrar before serving a notice on the society and giving it a reasonable opportunity to produce such papers, documents or books of account as are specified in such notice.]
5. Societies which may be registered.— Subject to the provisions hereinafter contained a society which has as its object the promotion of the economic interests of its members in accordance with co-operative principles, or a society established with the object of facilitating the operations of such a society, may be registered under this Act with or without limited liability:
Provided that , unless [15][the Provincial Government] by general or special order otherwise directs—
(a) the liability of a society of which a member is a society shall be limited;
(b) the liability of a society of which the primary object is the creation of funds to be lent to its members, and of which the majority of the members are agriculturists and of which no member is a registered society shall be unlimited and the members of such a society shall, on its liquidation, be jointly and severally liable for and in respect of all obligations of such a society:
Provided further that when the question whether the liability of a society is limited or unlimited has once been decided by the Registrar at the time of registration his decision shall be final.
6. Restrictions on interest of member of society with limited liability and a share capital.— Where the liability of the members of a society is limited by shares, no member other than a society shall—
(a) hold more than such portion of the share capital of the society, subject to a maximum of one fifth, as may be prescribed by the rules; or
(b) have or claim any interest in the shares of the society exceeding three-thousand rupees: provided that if the society is a housing society a member may have or claim an interest in the shares of the society not exceeding Rs. 20,000.
7. Conditions of registration.— (1) No society, other than a society of which a member is a society, shall be registered under this Act, which does not consist of at least ten persons above the age of eighteen years and, where the object of the society is the creation of funds to be lent to its members, unless such persons—
(a) reside in the same town or village or in the same group of villages; or
(b) save where the Registrar otherwise directs, are members of the same tribe, class, caste or occupation.
[16][(2) No society formed after the commencement of The [17][Sind] Co-operative Societies [18][* * *] (Amendment) Act, 1943, for the purpose of carrying on business as a banking society or which uses as part of its name under which it proposes to carry on business the word ‘bank’ or ‘banking’ shall be registered under this Act unless its paid-up share capital amounts to rupees 20,000 or more;
Explanation— For the purpose of this section the expression
‘banking society’ means a society which accepts deposits of money on current
account
or otherwise subject to withdrawal by cheque, draft or order].
[19][(3)] The word “limited” shall be the last word in the name of every society with limited liability registered under this Act.
8. Power of Registrar to decide certain questions.— When any question arises [20][whether, for the purposes of this Act,] a person is an agriculturist or a non-agriculturist, or whether any person is a resident in a town or village or group of villages, or whether two or more villages shall be considered to form a group, or whether any person belongs to any particular tribe, class, caste or occupation, the question shall be decided by the Registrar, whose decision shall be final.
9. Application for registration.— (1) For purposes of registration an application to register shall be made to the Registrar.
(2) The application shall be signed—
(a) in the case of a society of which no member is a society, by at least ten persons qualified in accordance with the requirements of section 7, sub-section (1); and
(b) in the case of a society of which a member is a society by a duly authorised person on behalf of every such society and where all the members of the society are not societies, by ten other members or, when there are less than ten other members, by all of them.
(3) The application shall be accompanied by a copy of the proposed by-laws of the society , and the persons by whom or on whose behalf such application is made shall furnish such information in regard to the society as the Registrar may require.
10. Registration.— If the Registrar is satisfied that a society has complied with the provisions of this Act and the rules and that its proposed by-laws are not contrary to [21][any law for the time being in force], he may register the society and its by-laws.
11. Evidence of registration.— A certificate of registration signed by the Registrar shall be conclusive evidence that the society therein mentioned is duly registered unless it is proved that the registration of the society has been cancelled.
12. Annual general meeting.— Every society shall within a period of three months after the date fixed for making up its accounts for the year under the rules for the time being in force call a general meeting of its members.
13. Special general meeting.— A special general meeting may be called at any time by a majority of the committee and shall be called within one month—
(1) on the requisition in writing of one-fifth of the members of the society, or
(2) at the instance of the Registrar.
14. Change of name: its effect.— A society may, by a resolution of a general meeting and with the approval of the Registrar, change its name: but such change shall not affect any right or obligation of the society, or of any of its members, or past members and any legal proceedings pending may be continued by or against the society under its new name.
15. Amalgamation or transfer of societies.— (1) Any two or more societies may, with the approval of the Registrar by a resolution passed by a three-fourths majority of the members present at a special general meeting of each such society held for the purpose, amalgamate as single society ; provided that each member has had clear fifteen days’ written notice of the resolution and the date of the meeting. Such an amalgamation may be effected without a dissolution, or a division of the funds, of the amalgamating societies. The resolution of the societies concerned shall on such amalgamation be a sufficient conveyance to vest the assets and liabilities of the amalgamating societies in the amalgamated society.
(2) Any society may by a resolution passed in accordance with the procedure laid down in sub-section (1) transfer its assets and liabilities to any other society which is prepared to accept them:
Provided that when any such amalgamation or transfer of assets and liabilities involves the transfer of its liabilities by any society to any other society, it will not be made without giving three months’ notice to the creditors of both or all such societies:
Provided further that if a creditor or creditors of any of the societies concerned objects or object to such amalgamation or transfer of assets and liabilities and gives or give written notice to that effect to the society or societies concerned one month before the date fixed for such amalgamation or transfer, the amalgamation or transfer shall not be made until the dues of such creditor or creditors have been satisfied.
[22][16. Amendment of the by-laws of a society.— (1) No amendment of the by-laws of a society
shall be valid until it is registered under this Act.]
(2) If the Registrar is satisfied that any amendment of the by-laws [23][made by a society] is not contrary to [24][any law for the time being in force], he may register the amendment.
(3) When the Registrar registers an amendment of by-laws of a society [25][under sub-section(2)], he shall issue to the society a copy of the amendment certified by him, which shall be conclusive evidence that the same is duly registered.
[26][16-A. Powers of the Registrar to amend bye-laws.— (1) If the Registrar is satisfied that the bye-laws of a society are inconsistent with any law for the time being in force, or it is necessary in the interest of the society and its members to make amendments in such bye-laws, he may, by means of a notice in writing, giving reasons, bring the fact to the notice of the society and advise the society to make the amendments within a period of sixty days.
(2) If the society fails to make such amendments
within the time specified in sub-section (1), the Registrar may, after giving
the society
an opportunity of being heard, register such amendments as he may decide
and issue to the society a copy of the amendment registered
by him.
(3) An appeal shall lie to the Government from an order of the Registrar passed under sub-section (2) within two months of the date of communication of the order.]
[27][CHAPTER III
RIGHTS AND LIABILITIES OF MEMBERS]
17. No rights of membership to be exercised till due payments are made.— No person shall exercise the rights of a member of a society unless or until he has made such payment to the society in respect of membership, or acquired such interest in the society as may be prescribed by the rules or the by-laws of such society.
[28][17-A. Special provisions for membership of resource societies.— Notwithstanding anything contained in this Act and any other law for the time being in force—
(i) every application made by any person for membership of an Agricultural Credit Society shall be accompanied by a declaration specifying the immovable property on which he agrees to have a charge created for the dues of the society; and no such person shall be admitted as a member or shall exercise rights of a member of such society unless he makes such declaration;
(ii) any member of an Agricultural Credit Society may at any time make a declaration as in clause(i) regarding immovable property on which he agrees to have a charge created for the dues of the society of which he is a member;
(iii) a declaration made under clause(i) or (ii) may be varied at any time by a member with the consent of the society in favour of which such charge is created;
(iv) no member of an Agricultural Credit Society so long as he continues to remain such member shall alienate the whole or any part of the property specified in the declaration made under clause(i) or (ii);
(v) any alienation of any property specified in the declaration made under clause (i) or (ii) by such member shall be void;
(vi) subject to the prior claim of [29][Government] in respect of land revenue or any money recoverable as arrears of land revenue, there shall be a first charge in favour of the society on the property specified in the declaration under clause (i) or (ii) in respect of and to the extent of any debt or other outstanding demand owing by such member to the society;
(vii) an entry regarding a charge on immovable property created by a declaration under clause (i) or (ii) or any variation made therein under clause (iii) shall be made in the record of rights maintained under Chapter X-A of the [30][Sind] Land Revenue Code, 1879, [31][or the relevant provisions of any other law relating to land revenue in force in the area,] notwithstanding anything contained in the said Chapter.
Explanation—For the purposes of this section an ‘Agricultural Credit Society’ means a resource society of which the primary object is the creation of funds to be lent to its members and of which a majority of the members are agriculturists and of which no member is a registered society and the liability of which is limited.]
18. Votes of members.— (1) No member of any society shall have more than one vote in its affairs, provided that in the case of an equality of votes the chairman shall have a casting vote.
(2) A Society which has invested any part of its funds in the shares of another society, may appoint one of its members to vote in the affairs of such other registered society.
[32][18-A. Disqualification for being , and for voting at an election of Director, Manager or other officer of the society.— A member of the society to which the provisions of this section have been applied by the Provincial Government by notification in the Official Gazette shall be disqualified for being, and for voting at an election of , a Director, Manager or other officer of the society—
(a) if he has taken a loan from the society which has been outstanding for six months or more after it has become payable and has not been re-paid upto the day immediately preceding the date of the election, or
(b) if he has taken a loan from the society which is repayable by installments and the amount of three or more installments has been outstanding for six months or more from the date on which the amount of the last installment became payable and has not been re-paid upto the day immediately preceding the date of the election.
Explanation—The date on which the loan or installment becomes payable is the date specified in the bond or any other instrument in writing evidencing the loan but does not include any extension thereof.]
19. Restrictions on transfer of share or interest.— (1) The transfer or charge of the share or interest of a member in the capital of a society shall be subject to such conditions as to maximum holding as may be prescribed by this Act or by the rules.
(2) A member shall not transfer any share held by him or his interest in the capital or property of any society or any part thereof unless—
(a) he has held such share or interest for not less than one year; and
(b) the transfer or charge is made to the society or to a member of the society or to a person whose application for membership has been accepted by the society.
[33][CHAPTER IV
DUTIES OF SOCIETIES]
20. Address of societies.— Every society shall have an address registered in accordance with the rules, to which all notices and communications may be sent, and shall send notice in writing to the Registrar of any change in the said address within 30 days of such change.
21. Copy of Act etc., to be open to inspection.— Every society shall keep open to inspection at all reasonable times at the registered address of the society—
(a) a copy of this Act.
(b) a copy of the rules governing such society.
(c) a copy of the by-laws of such society, and
(d) a register of its members.
22. Audit.— (1) The Registrar shall by himself or by some person authorized by him in writing by general or special order in this behalf audit the accounts of every society once at least in every year.
(2) The audit under sub-section(1) shall include an examination of overdue debts, if any, the verification of cash balance and securities, and a valuation of the assets and liabilities of the society.
(3) The Registrar or other person auditing the accounts of any society shall have free access to the books, accounts and vouchers of such society and shall be allowed to verify its cash balances and securities.
The Directors, Managers, and other officers of the society shall furnish to the Registrar or other person appointed to audit the accounts of a society all such information as to its transactions and working as the Registrar or such person may require.
(4) The Registrar and every other person appointed to audit the accounts of a society shall have power, when necessary—
(i) to summon at the time of his audit any officer , agent, servant or member of the society who he has reason to believe can give valuable information in regard to any transaction of the society or the management of its affairs, or
(ii) to require the production of any book or document relating to the affairs of any cash or securities belonging to the society by the officer, agent, servant, or member in possession of such book, document, cash or securities.
[34][22-A. Power of Registrar to exercise powers under section 50-A in the course of an audit.— Where, in the course of an audit under section 22 it appears to the Registrar that there exists any such ground as is specified in section 50-A, he may, of his own motion or on the application of the person authorised by him under section 22, exercise the powers specified in section 50-A].
[35][CHAPTER V
PRIVILEGES OF SOCIETIES]
23. Societies to be bodies corporate.— The registration of a society shall render it a body corporate by the name under which it is registered, with perpetual succession and a common seal, and with power to hold property, to enter into contracts, to institute, and defend suits and other legal proceedings and to do all things necessary for the purposes of its constitution.
24. Prior claim of society.— Subject to any prior claim of [36][Government] in respect of land revenue or any money recoverable as land revenue or of a landlord in respect of rent or any money recoverable as rent,
(a) any debt or outstanding demand owing to a society by any member or past member [37][or, in the case of a society authorised under sub-section (1) of section 34 to make loans to non-members, by a non-member] shall be a first charge (i) upon crops or other agricultural produce raised in whole or in part with a loan taken from the society by [38][such member, past member or non-member], and (ii) upon any cattle, fodder for cattle, agricultural or industrial implements or machinery, or raw materials for manufacture or workshop, godown or place of business, supplied to or purchased by [39][such member, past member or non-member] in whole or in part from any loan whether in money or goods given, him by the society:
Provided that nothing contained in this clause shall effect the claims of any bonafide purchaser or transferee for value without notice of any such crops or other agricultural produce, cattle, fodder for cattle or raw materials for manufacture or workshops, or agricultural or industrial implements; and
(b) any outstanding demands or dues payable to a housing society by any member or past member in respect of rent, shares, loans, or purchase money or any other rights or amounts payable to such society shall be a first charge upon his interest in the immovable property of the society.
25. Charge and set-off in respect of shares or interest of member.— A society shall have a charge upon the share or interest in the capital and on the deposits of a member or past member and upon any dividend, bonus or profits payable to a member or past member in respect of any debt due from such member or past member to the society, and may set-off any sum credited or payable to a member or past member in or towards payment of any such debt.
26. Shares or interest not liable to attachment.— Subject to the Provisions of section 25, the share or interest of a member in the capital of a society or in any provident fund established under section 41 of this Act shall not be liable to attachment or sale under any decree or order of a Court of justice in respect of any debt or liability incurred by such member, and [40][neither the Official Assignee under the Insolvency (Karachi Division [41][* * *]) Act, 1909 nor a receiver under the Provincial Insolvency Act, 1920, shall] be entitled to or have any claim on such share or interest.
27. Transfer of interest on death of member.— (1) On the death of a member of a society such society may within a period of one year from the death of such member transfer the share or interest of the deceased member to a person or persons nominated in accordance with the by-laws of the society , if duly admitted a member of the Society, in accordance with the rules or the by-laws of the society, or, if there is no person so nominated, to such person as may appear to the Committee to be the heir or legal representative of the deceased member if duly elected a member of the society, or may pay to such nominee, heir or legal representative, as the case may be, a sum representing the value of such member’s share or interest as ascertained in accordance with the rules or by-laws:
Provided that such nominee, heir or legal representative, as the case may be, may require that payment shall be made by the society within one year from the death of the member of the value of the share or interest of such member ascertained as aforesaid.
[42][Provided further that the nominee, heir or legal representative shall distribute the amount received by him among the heirs of the deceased.]
(2) A society shall subject to the provisions of section 25 and unless prevented by an order of a competent court pay to such nominee, heir or legal representative, as the case may be, all other moneys due to the deceased member from the society.
(3) All transfers and payments made by a society in accordance with the provisions of this section shall be valid and effectual against any demand made upon the society by any other person.
28. Liability of past member.— The liability of a past member for the debts of a society as they existed at the time when he ceases to be a member, shall continue for a period of two years from the date of his ceasing to be a member.
29. Liability of the estates of deceased members.— The estate of a deceased member shall be liable for a period of one year from the date of his decease for the debts of a society as they existed at the time of his death.
30. Register of members.— Any register or list of members or shares kept by any society shall be prima facie evidence of any of the following particulars entered therein:-
(a) the date at which the name of any person was entered in such register or list as a member;
(b) the date at which any such person ceased to be a member.
31. Admissibility of copy of entry as evidence.— (1) A copy of any entry in any book, register or list regularly kept in the course of business in the possession of a society shall, if duly certified in such manner as may be prescribed by the rules, be admissible in evidence of the existence of the entry and shall be admitted as evidence of the matters and transactions therein recorded in every case where, and to the same extent to which the original entry would, if produced, have been admissible to prove such matters.
(2) In the case of such societies as [43][the Provincial Government] by general or special order may direct no officer of a society shall in any legal proceedings to which the society is not a party be compelled to produce any of the society’s books, the contents of which can be proved under sub-section(1), or to appear as a witness to prove the matters, transactions and accounts therein recorded, unless by order of the Court or a Judge made for special cause.
32. Exemption from compulsory registration of instruments relating to shares [44][etc] of society.— Nothing in section 17, sub-section (1), clauses (b) and (c), of the [45][* * *]Registration Act, 1908[46], shall 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