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 30: Reserve Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money
    1[30. Reserve Bank to regulate or prohibit issue of prospectus or advertisement soliciting deposits of money-- The Reserve Bank may, if it considers necessary in the public interest so to do, by general or special order,--
         (a) regulate or prohibit the issue by any housing finance institution which is a company of any prospectus or advertisement soliciting deposits of money from the public; and
         (b) specify the conditions subject to which any such prospectus or advertisement, if not prohibited, may be issued.]
    
Notes:
1. Subs. by s. 157, ibid., for section 30 (w.e.f. 09-08-2019).
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