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Section 38B: Securitisation of debt.

The National Bank for Agriculture and Rural Development Act, 1981Central Act · Act 61 of 1981

[38B. Securitisation of debt.--Notwithstanding anything contained in this Act, the National Bank may--

(a) create one or more trusts and transfer loans and advances granted by it, with or without the securities, to such trusts, for consideration;

(b) set aside loans or advances held by the National Bank and issue and sell securities based upon such loans or advances so set aside in the form of debt obligations, trust certificates of beneficial interest or other instruments, by whatever name called, and act as a trustee for the holders of such securities.]

Where this provision sits

ActThe National Bank for Agriculture and Rural Development Act, 1981
Section38B
Marginal noteSecuritisation of debt.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted. . Ins. by s. 24, ibid. (w.e.f. 1-2-2001).

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