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Chapter II

Establishment of The National Housing Bank and Capital Thereof

3. Establishment and incorporation of National Housing Bank.-

(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 1[New Delhi or at such other place as the Central Government] 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 2[the Central Government], at any place outside India.

National Housing Bank Act, 1987 Back

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