The National Housing Bank Act, 1987
Central · 1987
- S. 1Short title, extent and commencement.
- S. 2Definitions.
- S. 3Establishment and incorporation of National Housing Bank.
- S. 4Capital.
- S. 5Management.
- S. 6Board of Directors.
- S. 7Term of office of Chairman, Managing Director and other directors, service conditions, etc.
- S. 8Disqualifications.
- S. 9Vacation and resignation of office by directors.
- S. 10Casual vacancy in the office of Chairman or Managing Director.
- S. 11Meetings of Board.
- S. 12Executive Committee and other committees.
- S. 13Director of Board or member of committee thereof not to participate in meetings in certain cases.
- S. 14Business of the National Housing Bank.
- S. 15Borrowings and acceptance of deposits by National Housing Bank.
- S. 16Loans in foreign currency.
- S. 16AAssistance to borrower when to operate or a charge in the property offered as security.
- S. 16BAmount and security to be held in trust.
- S. 17Power to transfer rights.
- S. 18Power to acquire rights.
- S. 18AExemption from registration.
- S. 18BRecovery of dues as arrears of land revenue.
- S. 19Power to impose conditions for accommodation.
- S. 20Power to call for repayment before agreed period.
- S. 21National Housing Bank to have access to records.
- S. 22Validity of loan or advance not to be questioned.
- S. 23National Housing Bank not to make loans or advances against its own bonds or debentures.
- S. 24Power to inspect.
- S. 25Power to collect credit information.
- S. 26Power to publish information.
- S. 27Advisory services.
- S. 28Definition of deposit.
- S. 29Chapter not to apply in certain cases.
- S. 29ARequirement of registration and net owned fund.
- S. 29BMaintenance of percentage of assets.
- S. 29CReserve fund.
- S. 30Reserve Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money
- S. 30APower of Reserve Bank to determine policy and issue directions.
- S. 31Power of National Housing Bank to collect information from housing finance institutions as to deposits.
- S. 32Duty of housing finance institutions to furnish statements, etc., under this Chapter
- S. 33Powers and duties of auditors.
- S. 33APower of Reserve Bank to prohibit acceptance of deposit and alienation of assets.
- S. 33BPower of National Housing Bank to file winding up petition.
- S. 33CPower to take action against auditors.
- S. 34Inspection.
- S. 35Deposits not to be solicited by unauthorised persons.
- S. 35ADisclosure of information.
- S. 35BPower of Reserve Bank to exempt housing finance institution
- S. 36Chapter V to override other laws.
Chapter Section *36-I
Chapter Section *36-O
- S. 36APower to order repayment of deposit.
- S. 36BNomination by depositors.
- S. 36CDefinitions.
- S. 36DAppointment of recovery officer.
- S. 36EApplication to the recovery officer.
- S. 36FProcedure in respect of application under section 36E.
- S. 36GEnforcement of order of recovery officer.
- S. 36HChief Metropolitan Magistrate and District Magistrate to assist recovery officer in taking charge of property
- S. 36JComposition of Appellate Tribunal.
- S. 36KQualifications for appointment as Presiding Officer of Appellate Tribunal.
- S. 36LTerm of office.
- S. 36MStaff of Appellate Tribunal.
- S. 36NSalaries and allowances and other terms and conditions of service of Presiding Officers.
- S. 36PResignation and removal.
- S. 36QOrders constituting Appellate Tribunal to be final and not to invalidate its proceedings.
- S. 36RJurisdiction, powers and authority of Appellate Tribunal.
- S. 36SAppeal to the Appellate Tribunal.
- S. 36TDeposit of amount due, on filing appeal.
- S. 36UProcedure and powers of recovery officer and Appellate Tribunal.
- S. 36VLimitation.
- S. 36WPresiding Officer, recovery officer, other officers and employees to be public servant.
- S. 36XProtection of action taken in good faith.
- S. 36YBar of jurisdiction.
- S. 36ZTransitional provisions.
- S. 37General Fund and other funds.
- S. 38Preparation of balance sheet, etc., of National Housing Bank.
- S. 39Disposal of surplus.
- S. 40Audit.
- S. 41Returns.
- S. 42Annual report on housing.
- S. 43Staff of National Housing Bank.
- S. 43ADelegation of powers.
- S. 44Obligation as to fidelity and secrecy.
- S. 45Defects in appointment not to invalidate acts, etc.
- S. 45AArrangement with National Housing Bank on appointment of directors to prevail.
- S. 46Protection of action taken under the Act.
- S. 47Indemnity of directors.
- S. 47ANomination in respect of deposits, bonds, etc.
- S. 48Explanation from tax on income.
- S. 49Penalties.
- S. 50Offences by companies.
- S. 51Cognizance of offences.
- S. 52Application of fine.
- S. 52APower of National Housing Bank and Reserve Bank to impose penalty.
- S. 53Bankers’ Books Evidence Act 18 of 1891, to apply in relation to the National Housing Bank.
- S. 54Liquidation of National Housing Bank.
- S. 54APower to make rules.
- S. 55Power of the Board to make regulations.
- S. 56Amendment of certain enactments.
- S. 57Power to remove difficulties.