Act Number: 53

Act Name: The National Housing Bank Act, 1987

Year: 1987

Enactment Date: 1987-12-23

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 35B: Power of Reserve Bank to exempt housing finance institution
    1[35B. Power of Reserve Bank to exempt housing finance institution.-- (1) The Reserve Bank, on being satisfied that it is necessary so to do, may declare by notification that all or any of the provisions of this Chapter shall not apply to a housing finance institution which is a company or a group of such housing finance institutions either generally or for such period as may be specified, subject to such conditions, limitations or restrictions as it may think fit to impose.
     (2) Every notification made under this section shall be laid, as soon as may be after it is made, before each House of Parliament.]
    
Notes:
1. Subs. by s. 167, ibid., for section 35B (w.e.f. 09-08-2019).
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