Ownership transfer of national housing bank shifts governance and capital powers to government, altering board composition. The Bill proposes transfer of ownership of the National Housing Bank to the Central Government, substitution of prior-owner references with the Central Government throughout the Act, reduction of that prior owner's board nominees from two to one, replacement of consultative appointment wording with a director appointment by the Central Government, relocation of the head office to New Delhi or another notified place, empowerment of the Central Government to increase authorised capital by notification, transfer of subscribed capital to the Central Government, and modernisation of cross-references to current company and foreign-exchange statutes.
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Ownership transfer of national housing bank shifts governance and capital powers to government, altering board composition.
The Bill proposes transfer of ownership of the National Housing Bank to the Central Government, substitution of prior-owner references with the Central Government throughout the Act, reduction of that prior owner's board nominees from two to one, replacement of consultative appointment wording with a director appointment by the Central Government, relocation of the head office to New Delhi or another notified place, empowerment of the Central Government to increase authorised capital by notification, transfer of subscribed capital to the Central Government, and modernisation of cross-references to current company and foreign-exchange statutes.
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