law: Multi-State Cooperative Societies Act, 1984 
  57. Exemption from
  
  compulsory registration of instruments.- 
  Nothing in clauses
  
  (b) and (c) of sub-section (1) of section 17 of the Registration Act, 1908,
  
  shall apply to -
  a.     
  
    any
  
  instrument relating to shares in a multi-State cooperative society notwithstanding
  
  that the assets of the society consist in whole or in part of immovable
  
  property; or
  b.    
  
    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 thereof 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 or any
  
  interest therein to trustees upon trust for the benefit of the holders of such
  
  debentures; or
  c.     
  
    an
  
  endorsement upon or transfer of any debenture issued by any such society.