Discuss the schemes and arrangements which are not coming under the ambit of collective investment scheme.

Notwithstanding anything contained in sub-section (2) or sub-section (2A) of the SEBI Act, 1992 any scheme or arrangement: made or offered by a co-operative society registered under the Co-operative Societies Act, 1912 or a society being a society registered or deemed to be registered under any law relating to co-operative societies for the time being in force in any State : under which deposits are accepted by non-banking financial companies as defined in clause (f) of section 45-1 of the Reserve Bank of India Act, 1934; being a contract of insurance to which the Insurance Act, 1938, applies; providing for any Scheme, Pension Scheme or the Insurance Scheme framed under the Employees Provident Fund and Miscellaneous Provisions Act, 1952; under which deposits are accepted under section 74 of the Companies Act, 2013; under which deposits are accepted by a company declared as a Nidhi or a mutual benefit society under section 406 of the Companies Act, 2013; falling within the meaning of Chit business as defined in clause (d) of section 2 of the Chit Fund Act, 1982; under which contributions made are in the nature of subscription to a mutual fund; such other scheme or arrangement which the Central Government may in consultation with SEBI notify, shall not be collective investment scheme.