Banking Regulation Act, 1949

3. Act to apply to co-operative societies in certain cases

Nothing in this Act shall apply to-

(a) a primary agricultural credit society;

(b) a co-operative land mortgage bank; and

(c) any other co-operative society, except in the manner and to the extent specified in Part V.]

Comment: Section 3 of the Banking Regulation Act specifically lays down that except in the manner and to the extent specified in Part V of the said Act none of the other provisions of the said Act are applicable to C0-operative Societies. AIR 1977 Kerala 36