The National Housing Bank Act, 1987

101 sections.

Section 1 — Short title, extent and commencement.
Section 2 — Definitions.
Section 3 — Establishment and incorporation of National Housing Bank.
Section 4 — Capital.
Section 5 — Management.
Section 6 — Board of Directors.
Section 7 — Term of office of Chairman, Managing Director and other directors, service conditions, etc.
Section 8 — Disqualifications.
Section 9 — Vacation and resignation of office by directors.
Section 10 — Casual vacancy in the office of Chairman or Managing Director.
Section 11 — Meetings of Board.
Section 12 — Executive Committee and other committees.
Section 13 — Director of Board or member of committee thereof not to participate in meetings in certain cases.
Section 14 — Business of the National Housing Bank.
Section 15 — Borrowings and acceptance of deposits by National Housing Bank.
Section 16 — Loans in foreign currency.
Section 16A — Assistance to borrower when to operate or a charge in the property offered as security.
Section 16B — Amount and security to be held in trust.
Section 17 — Power to transfer rights.
Section 18 — Power to acquire rights.
Section 18A — Exemption from registration.
Section 18B — Recovery of dues as arrears of land revenue.
Section 19 — Power to impose conditions for accommodation.
Section 20 — Power to call for repayment before agreed period.
Section 21 — National Housing Bank to have access to records.
Section 22 — Validity of loan or advance not to be questioned.
Section 23 — National Housing Bank not to make loans or advances against its own bonds or debentures.
Section 24 — Power to inspect.
Section 25 — Power to collect credit information.
Section 26 — Power to publish information.
Section 27 — Advisory services.
Section 28 — Definition of deposit.
Section 29 — Chapter not to apply in certain cases.
Section 29A — Requirement of registration and net owned fund.
Section 29B — Maintenance of percentage of assets.
Section 29C — Reserve fund.
Section 30 — Reserve Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money
Section 30A — Power of Reserve Bank to determine policy and issue directions.
Section 31 — Power of National Housing Bank to collect information from housing finance institutions as to deposits.
Section 32 — Duty of housing finance institutions to furnish statements, etc., under this Chapter
Section 33 — Powers and duties of auditors.
Section 33A — Power of Reserve Bank to prohibit acceptance of deposit and alienation of assets.
Section 33B — Power of National Housing Bank to file winding up petition.
Section 33C — Power to take action against auditors.
Section 34 — Inspection.
Section 35 — Deposits not to be solicited by unauthorised persons.
Section 35A — Disclosure of information.
Section 35B — Power of Reserve Bank to exempt housing finance institution
Section 36 — Chapter V to override other laws.
Section 36A — Power to order repayment of deposit.
Section 36B — Nomination by depositors.
Section 36C — Definitions.
Section 36D — Appointment of recovery officer.
Section 36E — Application to the recovery officer.
Section 36F — Procedure in respect of application under section 36E.
Section 36G — Enforcement of order of recovery officer.
Section 36H — Chief Metropolitan Magistrate and District Magistrate to assist recovery officer in taking charge of property
Section 36-I — Establishment of Appellate Tribunal.
Section 36J — Composition of Appellate Tribunal.
Section 36K — Qualifications for appointment as Presiding Officer of Appellate Tribunal.
Section 36L — Term of office.
Section 36M — Staff of Appellate Tribunal.
Section 36N — Salaries and allowances and other terms and conditions of service of Presiding Officers.
Section 36-O — Filling up of vacancies.
Section 36P — Resignation and removal.
Section 36Q — Orders constituting Appellate Tribunal to be final and not to invalidate its proceedings.
Section 36R — Jurisdiction, powers and authority of Appellate Tribunal.
Section 36S — Appeal to the Appellate Tribunal.
Section 36T — Deposit of amount due, on filing appeal.
Section 36U — Procedure and powers of recovery officer and Appellate Tribunal.
Section 36V — Limitation.
Section 36W — Presiding Officer, recovery officer, other officers and employees to be public servant.
Section 36X — Protection of action taken in good faith.
Section 36Y — Bar of jurisdiction.
Section 36Z — Transitional provisions.
Section 37 — General Fund and other funds.
Section 38 — Preparation of balance sheet, etc., of National Housing Bank.
Section 39 — Disposal of surplus.
Section 40 — Audit.
Section 41 — Returns.
Section 42 — Annual report on housing.
Section 43 — Staff of National Housing Bank.
Section 43A — Delegation of powers.
Section 44 — Obligation as to fidelity and secrecy.
Section 45 — Defects in appointment not to invalidate acts, etc.
Section 45A — Arrangement with National Housing Bank on appointment of directors to prevail.
Section 46 — Protection of action taken under the Act.
Section 47 — Indemnity of directors.
Section 47A — Nomination in respect of deposits, bonds, etc.
Section 48 — Explanation from tax on income.
Section 49 — Penalties.
Section 50 — Offences by companies.
Section 51 — Cognizance of offences.
Section 52 — Application of fine.
Section 52A — Power of National Housing Bank and Reserve Bank to impose penalty.
Section 53 — Bankers’ Books Evidence Act 18 of 1891, to apply in relation to the National Housing Bank.
Section 54 — Liquidation of National Housing Bank.
Section 54A — Power to make rules.
Section 55 — Power of the Board to make regulations.
Section 56 — Amendment of certain enactments.
Section 57 — Power to remove difficulties.

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