Amendment of section 33.
160. In section 33 of the principal Act,-
(a) in sub-section (1),-
(i) for the words “housing finance institution” wherever they occur, the words “housing finance institution which is a company” shall be substituted;
(ii) for the words “the National Housing Bank” at both the places where they occur, the words “the National Housing Bank and the Reserve Bank” shall be substituted;
(b) in sub-section (1A), for the words “National Housing Bank”, the words “Reserve Bank” shall be substituted;
(c) in sub-section (2), for the words “the National Housing Bank” at both the places where they occur, the words “the National Housing Bank and the Reserve Bank” shall be substituted;
(d) in sub-section (3), for the words “it may at any time”, the words “it may at any time and shall, on being directed to do so by the Reserve Bank,” shall be substituted.
Notes on Clauses:
Clause 160 of the Bill seeks to amend section 33 of the said Act relating to powers and duties of auditors.
