Transfer of ownership and control to the Central Government restructures governance and capital powers of the housing bank. The Bill transfers ownership and primary authority over the National Housing Bank from the Reserve Bank to the Central Government, omits Reserve Bank references in section 55 and elsewhere, relocates head office authority to New Delhi or other places by notification, provides for transfer of subscribed capital to the Central Government and empowers the Central Government to increase authorised capital by notification, reduces Reserve Bank representation on the Board, and updates cross-references to the Companies Act, 2013 and the Foreign Exchange Management Act, 1999.
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Provisions expressly mentioned in the judgment/order text.
Transfer of ownership and control to the Central Government restructures governance and capital powers of the housing bank.
The Bill transfers ownership and primary authority over the National Housing Bank from the Reserve Bank to the Central Government, omits Reserve Bank references in section 55 and elsewhere, relocates head office authority to New Delhi or other places by notification, provides for transfer of subscribed capital to the Central Government and empowers the Central Government to increase authorised capital by notification, reduces Reserve Bank representation on the Board, and updates cross-references to the Companies Act, 2013 and the Foreign Exchange Management Act, 1999.
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