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2. Definitions.-

In this Act, unless the context otherwise requires,-

(a) "Board" means the Board of Directors of the National Housing Bank referred to in section 6;

(b) "Chairman" means the Chairman of the Board appointed under section 6;

(c) "director" means a director appointed under section 6;

(d) "housing finance institution" includes every institution, whether incorporated or not, which primarily transacts or has as 2[one of its principal objects], the transacting of the business of providing finance for housing, whether directly or indirectly;

(e) "Managing Director" means the Managing Director appointed under section 6;

(f) "National Housing Bank" means the National Housing Bank established under section 3;

(g) "notification" means a notification published in the Official Gazette;

(h) "prescribed" means prescribed by regulations made under this Act;

(i) "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934).

(j) words and expressions used herein and not defined but defined in the Reserve Bank of India Act, 1934 (2 of 1934), shall have the meanings respectively assigned to them in that Act;

(k) words and expressions used herein and not defined either in this Act or in the Reserve Bank of India Act, 1934 (2 of 1934), but defined in the Banking Regulation Act, 1949 (10 of 1949), shall have the meanings respectively assigned to them in the Banking Regulation Act, 1949.

1. 9th July, 1988, vide notification No. S.O. 684(E), dated 9th July, 1988, see Gazette of India, Extraordinary, Part II, sec. 3(ii) [except Chapter V and sub-section (3) of section 49].

1st June, 1989, vide notification No. S.O. 394(E), dated 1st June, 1989, see Gazette of India, Extraordinary, Part II, sec. 3(ii) [in respect of Chapter V and sub-section (3) of section 49].

2. Subs. by Act 15 of 2000, s. 2, for "its principal object" (w.e.f. 12-6-2000).



National Housing Bank Act, 1987 Back




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