Section 36C
Definitions.
The National Housing Bank Act, 1987
About this Act
An Act to establish a bank to be known as the National Housing Bank to operate as a principal agency to promote housing finance institutions both at local and regional levels and to provide financial and other support to such institutions and for matters connected therewith or incidental thereto.
1[36C. Definitions.--In this Chapter, unless the context otherwise requires,--
(a) "Appellate Tribunal" means the Appellate Tribunal established under section 36-I;
(b) "approved institution" means--
(i) a housing finance institution which has been granted a certificate of registration under sub-section (5) of section 29A;
(ii) a scheduled bank;
(iii) National Housing Bank acting as trustee or otherwise in a transaction of securitisation of housing mortgages undertaken by the National Housing Bank;
(iv) such other institutions as the Central Government may, on the recommendation of the National Housing Bank, by notification, specify;
(c) "assistance" means any direct or indirect financial assistance granted, by an approved institution during the course of any housing finance activity undertaken by it;
(d) "borrower" means any person to whom any assistance has been given by an approved institution for the purposes of purchase, construction, repairs, extension or renovation of a residential house;
(e) "dues" means any liability which is claimed as due from any person by an approved institution and includes interest, costs, charges and other amount payable in relation thereto;
(f) "recovery officer" means an officer appointed under section 36D.]
(a) "Appellate Tribunal" means the Appellate Tribunal established under section 36-I;
(b) "approved institution" means--
(i) a housing finance institution which has been granted a certificate of registration under sub-section (5) of section 29A;
(ii) a scheduled bank;
(iii) National Housing Bank acting as trustee or otherwise in a transaction of securitisation of housing mortgages undertaken by the National Housing Bank;
(iv) such other institutions as the Central Government may, on the recommendation of the National Housing Bank, by notification, specify;
(c) "assistance" means any direct or indirect financial assistance granted, by an approved institution during the course of any housing finance activity undertaken by it;
(d) "borrower" means any person to whom any assistance has been given by an approved institution for the purposes of purchase, construction, repairs, extension or renovation of a residential house;
(e) "dues" means any liability which is claimed as due from any person by an approved institution and includes interest, costs, charges and other amount payable in relation thereto;
(f) "recovery officer" means an officer appointed under section 36D.]
Notes
1. Ins. by Act 15 of 2000, s. 20 (w.e.f. 12-6-2000).