LawgistThe National Housing Bank Act
52Application of fine
1[1 52. Application of fine.-- A court imposing any fine under this Act may direct that the fine, if realised shall be applied--
(a) firstly in, or towards payment of, the cost of the proceedings, and
(b) secondly for repayment of the deposit to the person to whom repayment of the deposit was to be made, and on such payment, the liability of the housing finance institution to make repayment of the deposit shall, to the extent of the amount paid by the Court, stand discharged.]
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1. Subs. by Act 15 of 2000, s. 26, for section 52 (w.e.f. 12-6-2000).
MISCELLANEOUS
- 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
