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Section 35: Deposits not to be solicited by unauthorised persons.

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

-- No person shall solicit on behalf of any [housing finance institution] either by publishing or causing to be published any prospectus or advertisement or in any other manner deposits of money from the public unless--

(a) he has been authorised in writing by the said housing finance institution to do so and specifies the name of the institution which has so authorised him; and

(b) the prospectus or advertisement complies with any order made by the [National Housing Bank] under section 30 and with any other provision of law for the time being in force applicable to the publication of such prospectus or advertisement.

Where this provision sits

ActThe National Housing Bank Act, 1987
Section35
Marginal noteDeposits not to be solicited by unauthorised persons.
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. . Subs. by s. 165, ibid., for "housing finance institution" (w.e.f. 09-08-2019).
  • substituted. . Subs. by s. 165, ibid., for "National Housing Bank" (w.e.f. 09-08-2019).

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