Section 3
[Provided that the Reserve Bank may, wherever it considers necessary so to do, require the National Housing Bank to inspect the books of such housing finance institution and submit a report to the Reserve Bank for the purpose of considering the application.]
3 [Provided that the Reserve Bank may, wherever it considers necessary so to do, require the National Housing Bank to inspect the books of such housing finance institution and submit a report to the Reserve Bank for the purpose of considering the application.]
(5) The 2 [Reserve Bank] may, after being satisfied that the conditions specified in sub-section (4) are fulfilled, grant a certificate of registration subject to such conditions which it may consider fit to impose.
(6) The 2 [Reserve Bank] may cancel a certificate of registration granted to a housing finance institution under this section if such institution —
(i) ceases to carry on the business of a housing finance institution in India; or
(ii) has failed to comply with any condition subject to which the certificate of registration had been issued to it; or