Section 32
Powers of Board to make regulations.
The National Bank for Financing Infrastructure and Development Act, 2021
About this Act
An Act to establish the National Bank for Financing Infrastructure and Development to support the development of longterm non-recourse infrastructure financing in India including development of the bonds and derivatives markets necessary for infrastructure financing and to carry on the business of financing infrastructure and for matters connected therewith or incidental thereto.
(1) The Board may, with the previous approval of the
Central Government and in consultation with the Reserve Bank, by notification, make regulations not
inconsistent with the provisions of this Act to provide for all matters for which provision is necessary or
expedient for the purpose of giving effect to the provisions of this Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:--
(a) the salaries and allowances payable to the Managing Director and Deputy Managing Directors under sub-section (4) of section 9;
(b) the times, places and rules of procedure in regard to the transaction of business of the Board under sub-section (1) of section 13;
(c) the times, places and rules of procedure in regard to the transaction of business of the committees and their functions under sub-section (5) of section 15;
(d) amount for transactions under the proviso to sub-section (1) of section 19;
(e) the terms and other conditions of service of the officers and employees of the Institution under sub-section (2) and the terms and conditions of deputation under sub-section (4), of section 30;
(f) the mechanism under sub-section (1) of section 39 for the purpose of determining the penalties specified under sub-section (5) of section 16 and sub-section (5) of section 19;
(g) any other matter which is to be, or may be, specified by regulations.
(2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:--
(a) the salaries and allowances payable to the Managing Director and Deputy Managing Directors under sub-section (4) of section 9;
(b) the times, places and rules of procedure in regard to the transaction of business of the Board under sub-section (1) of section 13;
(c) the times, places and rules of procedure in regard to the transaction of business of the committees and their functions under sub-section (5) of section 15;
(d) amount for transactions under the proviso to sub-section (1) of section 19;
(e) the terms and other conditions of service of the officers and employees of the Institution under sub-section (2) and the terms and conditions of deputation under sub-section (4), of section 30;
(f) the mechanism under sub-section (1) of section 39 for the purpose of determining the penalties specified under sub-section (5) of section 16 and sub-section (5) of section 19;
(g) any other matter which is to be, or may be, specified by regulations.