National Housing Bank Act 1987 Pdf

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National Housing Bank Act, 1987

The National Housing Bank Act, 1987 No. 53 of 1987 [23rd December, 1987]
An Act to establish a bank to be known as the National Housing bank to operate as a
principal agency to promote housing finance institutions both at local and regional
levels and to provide financial and other support to such institutions and for matters
connected therewith or incidental thereto

Short title, extent and commencement - (1) This Act may be called the National
Housing Bank Act, 1987.

(2) It extends to the whole of India.

(3) It shall come into force on such date1 as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act and any reference in any provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision.

2. Definitions.- In this Act, unless the context otherwise requires,-

(a) "Board" means the Board of Directors of the National Housing Bank referred to in
section 6;
(b) "Chairman" means the Chairman of the Board appointed under section 6;
(c) "director" means a director appointed under section 6;
(d) "housing finance institution" includes every institution, whether incorporated or not,
which primarily transacts or has as [one of its principal objects]2
, the transacting of the
business of providing finance for housing, whether directly or indirectly;
(e) "Managing Director" means the Managing Director appointed under section 6;
(f) "National Housing Bank" means the National Housing Bank established under section 3;
(g) "notification" means a notification published in the Official Gazette;
(h) "prescribed" means prescribed by regulations made under this Act;

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National Housing Bank Act 1987

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