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Amendment of section 16

Clause 165 - Bills - AMENDMENTS TO THE NATIONAL HOUSING BANK ACT, 1987 - Bill - Clause 165 - 165. . In section 16 of the principal Act, in sub-section (1), for the words and figures the Foreign Exchange Regulation Act, 1973 (46 of 1973) , the words a .....

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have been made to omit or substitute the reference of Reserve Bank with Central Government. It is proposed to transfer the ownership of the National Housing Bank from the Reserve Bank of India to the Central Government. It is further proposed to amen .....

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tion 4 of the said Act so as to empower the Central Government to increase the authorised capital up to two thousand crore rupees or such other amount as it may determine, by notification. It is also proposed to insert a new sub-section (3) in the sa .....

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