Lawgist47ANomination in respect of deposits, bonds, etc
1[47A. Nomination in respect of deposits, bonds, etc.--(1) Notwithstanding anything contained in any other law for the lime being in force, where a nomination in respect of any deposit, bonds or other securities is made with the National Housing Bank in the prescribed manner, the amount due on such deposits, bonds or securities shall, on the death of the depositor or holder thereof, vest in, and be payable to, the nominee subject to any right, title or interest of any other person to such deposits, bonds or securities.
(2) Any payment made by the National Housing Bank in accordance with the provisions of sub-section (1) shall be a full discharge of its liability in respect of such deposits, bonds or securities.]
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1. Ins. by Act 15 of 2000, s. 24 (w.e.f. 12-6-2000).
- 43 Staff of National Housing Bank
- 43A Delegation of powers
- 44 Obligation as to fidelity and secrecy
- 45 Defects in appointment not to invalidate acts, etc
- 45A Arrangement with National Housing Bank on appointment of directors to prevail
- 46 Protection of action taken under the Act
- 47 Indemnity of directors
- 47A Nomination in respect of deposits, bonds, etc
- 48 Explanation from tax on income
- 49 Penalties
- 50 Offences by companies
- 51 Cognizance of offences
- 52 Application of fine
- 52A Power of National Housing Bank and Reserve Bank to impose fin
- 53 Bankers’ Books Evidence Act 18 of 1891, to apply in relation to the National Housing Bank
- 54 Liquidation of National Housing Bank
- 54A Power to make rules
- 55 Power of the Board to make regulations
- 56 Amendment of certain enactments
- 57 Power to remove difficulties
