Ownership transfer of National Housing Bank shifts governance, capital control and board composition to the central authority. Amendments reallocate ownership and governance of the National Housing Bank by replacing references to the Reserve Bank with the Central Government, providing for transfer of subscribed capital from the Reserve Bank to the Central Government, permitting the Central Government to determine head office location, and enabling variable authorised capital by Central Government notification, while reducing Reserve Bank representation on the board and updating corporate and foreign exchange statutory references.
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Ownership transfer of National Housing Bank shifts governance, capital control and board composition to the central authority.
Amendments reallocate ownership and governance of the National Housing Bank by replacing references to the Reserve Bank with the Central Government, providing for transfer of subscribed capital from the Reserve Bank to the Central Government, permitting the Central Government to determine head office location, and enabling variable authorised capital by Central Government notification, while reducing Reserve Bank representation on the board and updating corporate and foreign exchange statutory references.
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