Transfer of ownership of National Housing Bank to Central Government reshapes governance, capital powers and head-office authority. Transfer of ownership of the National Housing Bank to the Central Government replaces Reserve Bank references with Central Government control, authorises relocation of the head office, reduces Reserve Bank representation on the Bank's Board, empowers the Central Government to increase authorised capital by notification and provides for transfer of subscribed capital from the Reserve Bank; consequential updates align statutory references with current companies and foreign exchange legislation.
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Transfer of ownership of National Housing Bank to Central Government reshapes governance, capital powers and head-office authority.
Transfer of ownership of the National Housing Bank to the Central Government replaces Reserve Bank references with Central Government control, authorises relocation of the head office, reduces Reserve Bank representation on the Bank's Board, empowers the Central Government to increase authorised capital by notification and provides for transfer of subscribed capital from the Reserve Bank; consequential updates align statutory references with current companies and foreign exchange legislation.
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