Lawgist6Board of Directors
(1) The Board of Directors of the National Housing Bank shall consist of the following, namely:--
(a) a Chairman and a Managing Director:
Provided that the same person may be appointed as Chairman and as Managing Director;
(b) 1[two directors] from amongst the experts in the field of housing, architecture, engineering, sociology, finance, law, management and corporate planning or in any other field, special knowledge of which is considered useful to the National Housing Bank;
2[(c) two directors, who shall be persons with experience in the working of institutions involved in providing funds for housing or engaged in housing development or have experience in the working of financial institutions or scheduled banks;
(ca) two directors elected in such manner as may be prescribed by shareholders other than 3***the Central Government and other institutions owned or controlled by the Central Government;]
(d) 4[one director] from out of the directors of the Reserve Bank;
(e) three directors from amongst the officials of the Central Government;
(f) two directors from amongst the officials of the State Government.
(2) The Chairman, the Managing Director and other directors 5[excluding the directors referred to in clauses (ca) and (d)], shall be appointed by the Central Government 6[the director] referred to in clause (d) shall be nominated by the Reserve Bank.
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1. Subs. by Act 15 of 2000, s. 5, for “three directors” (w.e.f 12-6-2000).
2. Subs. by s. 5, ibid., for clause (c) (w.e.f. 12-6-2000).
3. The words “the Reserve Bank,” omitted by Act 13 of 2018, s. 166 (w.e.f. 1-6-2018).
4. Subs. by s. 166, ibid., for “two directors” (w.e.f. 1-6-2018).
5. Subs. by Act 15 of 2000, s. 5, for “excluding the directors referred to in clause (d)” (w.e.f. 12-6-2000).
6. Subs. by Act 13 of 2018, s. 166, for “in consultation with the Reserve Bank and directors” (w.e.f. 1-6-2018).
- 5 Management
- 6 Board of Directors
- 7 Term of office of Chairman, Managing Director and other directors, service conditions, etc
- 8 Disqualifications
- 9 Vacation and resignation of office by directors
- 10 Casual vacancy in the office of Chairman or Managing Director
- 11 Meetings of Board
- 12 Executive Committee and other committees
- 13 Director of Board or member of committee thereof not to participate in meetings in certain cases
