Clause 169 - Amendment of section 49. - FINANCE (No. 2) BILL, 2019

Amendment of section 49.

169. In section 49 of the principal Act,-

(a) in sub-section (2B), for the words “the National Housing Bank”, the words “the National Housing Bank or the Reserve Bank” shall be substituted;

(b) in sub-section (2C), for the words “any order made by the authorised officer”, the words “any order made by the National Company Law Tribunal” shall be substituted;

(c) in sub-section (3), in clause (aa), for the words “the National Housing Bank”, the words “the National Housing Bank or the Reserve Bank” shall be substituted.

 

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Notes on Clauses:

Clause 169 of the Bill seeks to amend section 49 of the Act to substitute the “National Housing Bank or the Reserve Bank” for the “National Housing Bank”.

It is further propsed to substitute “National Company Law Tribunal for “Authorised officer”.