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National Housing Bank Act, 1987 Complete Act - Bare Act

StateCentral Government
Year
Act Info:
Preamble1 - NATIONAL HOUSING BANK ACT, 1987
Chapter I
Section1 - Short title, extent and commencement
Section2 - Definitions
Chapter II
Section3 - Establishment and incorporation of National Housing Bank
Section4 - Capital
Chapter II
Section5 - Management
Section6 - Board of Directors
Section7 - Terms of office of Chairman, Managing Director and other directors, service conditions, etc.
Section8 - Disqualifications
Section9 - Vacation and resignation of office by directors
Section10 - Casual vacancy in the office of Chairman or Managing Director
Section11 - Meetings of Board
Section12 - Executive Committee and other committees
Section13 - Director of Board or member of committee thereof not to participate in meetings in certain cases
Chapter III
Section14 - Business of the National Housing Bank
Section15 - Borrowings and acceptance of deposits by National Housing Bank
Section16 - Loans in foreign currency
Section16A - Assistance to borrower when to operate or a charge in the property offered as security
Section16B - Amount and security to be held in trust
Section17 - Power to transfer rights
Section18 - Power to acquire rights
Section18A - Exemption from registration
Section18B - Recovery of dues as arrears of land revenue
Section19 - Power to impose conditions for accommodation
Section20 - Power to call for repayment before agreed period
Section21 - National Housing Bank to have access to records
Section22 - Validity of loan or advance not to be questioned
Section23 - National Housing Bank not to make loans or advances against its own bonds or debentures
Section24 - Power to inspect
Section25 - Power to collect credit information
Section26 - Power to publish information
Section27 - Advisory services
Chapter V
Section28 - Definition of deposit
Section29 - Chapter not to apply in certain cases
Section29A - Requirement of registration and net owned fund
Section29B - Maintenance of percentage of assets
Section29C - Reserve fund
Section30 - National Housing Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money
Section30A - Power of National Housing Bank to determine policy and issue directions
Section31 - Power of National Housing Bank to collect information from housing finance institutions as to deposits and to give directions
Section32 - Duty of housing finance institutions to furnish statements, etc., required by National Housing Bank
Section33 - Powers and duties of auditors
Section33A - Power of National Housing Bank to prohibit acceptance of deposit and alienation of assets
Section33B - Power of National Housing Bank to file winding up petition
Section34 - Inspection
Section35 - Deposits not to be solicited by unauthorised persons
Section35A - Disclosure of information
Section35B - Power of National Housing Bank to exempt any housing finance institution
Section36 - Chapter V to override other laws
Section36A - Power to order repayment of deposit
Section36B - Nomination by depositors
ChapterVA - OTHER PROVISIONS RELATING TO HOUSING FINANCE INSTITUTIONS
Section36C - Definitions
Section36D - Appointment of recovery officer
Section36E - Application to the recovery officer
Section37F - Procedure in respect of application under section 36E
Section37G - Enforcement of order of recovery officer
Section36H - Chief Metropolitan Magistrate and District Magistrate to assist Recovery officer in taking charge of property
Section36I - Establishment of Appellate Tribunal
Section36J - Composition of Appellate Tribunal
Section36K - Qualification for appointment as Presiding Officer of Appellate Tribunal
Section36L - Term of office
Section36M - Staff of Appellate Tribunal
Section36N - Salaries and allowances and other terms and conditions of service of presiding Officers
Section36O - Filling up of vacancies
Section36P - Resignation and removal
Section36Q - Orders constituting Appellate Tribunal to be final and not to invalidate its proceedings
Section36R - Jurisdiction, powers and authority of Appellate Tribunal
Section36S - Appeal to the Appellate Tribunal
Section36T - Deposit of amount due, on filing appeal
Section36U - Procedure and powers of recovery officer and Appellate Tribunal
Section36V - Limitation
Section36W - Presiding Officer, recovery officer, other officers and employees to be public servant
Section36X - Protection of action taken in good faith
Section36Y - Bar of jurisdiction
Section36Z - Transitional provisions
Chapter VI
Section37 - General Fund and other funds
Section38 - Preparation of balance-sheet, etc., of National Housing Bank
Section39 - Disposal of surplus
Section40 - Audit
Section41 - Returns
Section42 - Annual report on housing
Chapter VII
Section43 - Staff of National Housing Bank
Section43A - Delegation of powers
Section44 - Obligation as to fidelity and secrecy
Section45 - Defects in appointment not to invalidate acts, etc.
Section45A - Arrangement with National Housing Bank on appointment of directors to prevail
Section46 - Protection of action taken under the Act
Section47 - Indemnity of directors
Section47A - Nomination in respect of deposits, bonds, etc.
Section48 - [Omitted]
Section49 - Penalties
Section50 - Offence by Companies
Section51 - Cognizance of offences
Section52 - Application of fine
Section52A - Power of National Housing Bank to impose fine
Section53 - Bankers' Books Evidence Act 18 of 1891, to apply in relation to National Housing Bank
Section54 - Liquidation of National Housing Bank
Section54A - Power to make rules
Section55 - Power of the Board to make regulations
Section56 - Amendment of certain enactments
Section57 - Power to remove difficulties
ScheduleI - FIRST SCHEDULE
ScheduleII - SECOND SCHEDULE
ScheduleIII - THIRD SCHEDULE
Amending Act1 - BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) AND FINANCIAL INSTITUTIONS LAWS (AMENDMENT) ACT, 2006


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