Amendment of section 34.
163. In section 34 in the principal Act,-
(i) for the words “at any time”, the words “at any time or on being directed so to do by the Reserve Bank, shall” shall be substituted;
(ii) for the words “housing finance institution accepting deposits” at both the places where they occur, the words “housing finance institution which is a company” shall be substituted;
(iii) after sub-section (3), the following sub-section shall be inserted, namely:-
“(4) The National Housing Bank shall submit a copy of the report of inspection referred to in sub-section (1) to the Reserve Bank.”.
Notes on Clauses:
Clause 163 of the Bill seeks to amend section 34 of the said Act relating to inspection.
