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Section 3: Establishment and incorporation of National Housing Bank.

The National Housing Bank Act, 1987Central Act · Act 53 of 1987

(1) With effect from such date as the Central Government may, by notification, appoint, there shall be established for the purposes of this Act, a bank to be known as the National Housing Bank.

(2) The National Housing Bank shall be a body corporate with the name aforesaid having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property and to contract, and may, by that name, sue and be sued.

(3) The head office of the National Housing Bank shall be at [New Delhi or at such other place as the Central Government] may, by notification, specify.

(4) The National Housing Bank may establish offices, branches or agencies at any place in India, and with the previous approval of [the Central Government], at any place outside India.

Where this provision sits

ActThe National Housing Bank Act, 1987
Section3
Marginal noteEstablishment and incorporation of National Housing Bank.
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.

  • substituted, Act 13 of 2018. . Subs. by Act 13 of 2018, s. 163, for “Bombay or at such other place as the Reserve Bank” (w.e.f. 1-6-2018).
  • substituted. . Subs. by s. 163, ibid., for “the Reserve Bank” (w.e.f. 1-6-2018).

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