Section 3:
Establishment and incorporation of National Housing Bank.
(1) With effect from such date
as the Central Government may, by notification, appoint, there shall be established for the purposes of
this Act, a bank to be known as the National Housing Bank.
(2) The National Housing Bank shall be a body corporate with the name aforesaid having perpetual
succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and
dispose of property and to contract, and may, by that name, sue and be sued.
(3) The head office of the National Housing Bank shall be at 1[New Delhi or at such other place as
the Central Government] may, by notification, specify.
(4) The National Housing Bank may establish offices, branches or agencies at any place in India, and
with the previous approval of 2[the Central Government], at any place outside India.
Notes:
1. Subs. by Act 13 of 2018, s. 163, for “Bombay or at such other place as the Reserve Bank” (w.e.f. 1-6-2018).
2. Subs. by s. 163, ibid., for “the Reserve Bank” (w.e.f. 1-6-2018).