Section 55: Restriction on the application of certain enactments.

(1) The provisions of the Money Lender's Law of a State shall not apply to a society registered under this Act.
(2) The provisions of the Arbitration and Conciliation Act shall not apply to any matter referred to an arbitrator under the provisions of this Act.
(3) The provisions of the Pawnbrokers Law of a State shall not apply to agricultural produce or to the products of a handicraftman pledged, pawned or otherwise delivered to a society registered under this Act by the members of the society.
(4) The provisions of the Companies and Allied Matters Act and the Trade Unions Act shall not apply to a registered society.