Amendment of section 29C.
155. In section 29C of the principal Act, in sub-section (2),––
(a) for the words “specified by the National Housing Bank”, the words “specified by the Reserve Bank” shall be substituted;
(b) for the words “reported to the National Housing Bank”, the words “reported to the National Housing Bank and the Reserve Bank” shall be substituted;
(c) in the proviso, for the words “Provided that the National Housing Bank”, the words “Provided that the National Housing Bank or the Reserve Bank” shall be substituted;
(d) in sub-section (3), for the words “the National Housing Bank”, the words “the Reserve Bank” shall be substituted.
Notes on Clauses:
Clause 155 of the Bill seeks to amend section 29C of the said Act relating to reserve fund.