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THE NATIONAL HOUSING BANK ACT, 1987

1987 · State unknown · central · act_text

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Sections (269)

6 · [16A. Assistance to borrower when to operate or a charge in the property offered as security . — (1) Where any person or institution seeks any financial assistance from the National Housing Bank on the security of any immovable property belonging to him or to that institution or on the security of the property of some other person whose property is offered as a collateral security for such assistance, such person or institution or, as the case may be, such other person may execute a written declaration in the form set out in the Third Schedule to this Act stating therein the particulars of the immovable property which is proposed to be offered as security, or as the case may be, collateral security, for such assistance and agreeing that the dues relating to the assistance, if granted, shall be a charge on such immovable property and, if on receipt of such declaration, the National Housing Bank grants any financial assistance to the person or institution aforesaid, the dues relating to such assistance shall, without prejudice to the rights of any other creditor holding any prior charge or mortgage in respect of the immovable property so
6 · [30A. Power of Reserve Bank to determine policy and issue directions—(1) If the Reserve Bank is satisfied that, in the public interest or to regulate the housing finance system of the country to its advantage or to prevent the affairs of any housing finance institution which is a company being conducted in a manner detrimental to the interest of the depositors or in a manner prejudicial to the interest of such housing finance institutions, it is necessary or expedient so to do, it may determine the policy and give directions to all or any of the housing finance institution which is a company relating to income recognition, accounting standards, making of proper provision for bad and doubtful debts, capital adequacy based on risk weights for assets and credit conversion factors for off balance-sheet items and also relating to deployment of funds by a housing finance institution which is a company or a group of such housing finance institutions or housing finance institutions which are companies generally, as the
2 · [45A. Arrangement with National Housing Bank on appointment of directors to prevail . — (1) Where any arrangement entered into by the National Housing Bank with a housing finance institution which is a company provides for the appointment by the National Housing Bank of one or more directors of such housing finance institution, such provision and any appointment of directors made in pursuance thereof shall be valid and effective notwithstanding anything to the contrary contained in the 3 [Companies Act, 2013 (18 of 2013)] or in any other law for the time being in force or in the memorandum, articles of association or any other instrument relating to that housing finance institution, or any provision regarding share qualification, age limit, number of director-ships, removal from office of directors and such like conditions contained in any such law or instrument aforesaid, shall not apply to any director appointed by the National Housing Bank in pursuance of the arrangement as aforesaid.

Subordinates (16)

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rniz} #. 37 _ Gv .-33004/95
Type: regulations · UID: 2ce663e3f7c75494487dba0df23a547084ec459f · PDF: yes · Text: yes · Rule index: yes
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REGD. NO. D.L-33004/95
Type: unknown · UID: 696245b99a75a8e008ff606e0fabe8ab01e200dc · PDF: yes · Text: yes · Rule index: yes
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dad +. #.qa.-33004/93
Type: regulations · UID: 72f7a244d7e60d7fc698dc172e0e4a46219b31c7 · PDF: yes · Text: yes · Rule index: yes
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Type: regulations · UID: 78db0a2b3f9813b30e130ec8d8154d1035040912 · PDF: yes · Text: yes · Rule index: yes
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41%odo_qdo-33004/99
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The Gazette Of India
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Radhey Shyam Garg
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Racfhey Shyam Garg
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REGD. NO. D.L-33004/95
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74 94TF Tf MTFTVTIFT5 (Affi} Radhey Shyam Garg Geneiai Manager (Lawi
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rfujrzi ro Sivqen-33004/97
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