Transfer of Ownership: National Housing Bank moved to Central Government, triggering governance and statutory reference changes. The Bill substitutes the Companies Act, 1956 reference with the Companies Act, 2013 and makes consequential amendments replacing Reserve Bank references with Central Government. It provides for transfer of ownership of the National Housing Bank to the Central Government, relocation of the head office by notification, an enabling power to increase authorised capital, transfer of subscribed capital from the Reserve Bank, reduction in Reserve Bank director representation on the Board, and update of obsolete statutory citations.
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Transfer of Ownership: National Housing Bank moved to Central Government, triggering governance and statutory reference changes.
The Bill substitutes the Companies Act, 1956 reference with the Companies Act, 2013 and makes consequential amendments replacing Reserve Bank references with Central Government. It provides for transfer of ownership of the National Housing Bank to the Central Government, relocation of the head office by notification, an enabling power to increase authorised capital, transfer of subscribed capital from the Reserve Bank, reduction in Reserve Bank director representation on the Board, and update of obsolete statutory citations.
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