Section - 5 - Voluntary Deposits (Immunities And Exemptions) Act, 1991

Section - 5 - Amendment of Act 53 of 1987.

Amendment of Act 53 of 1987.

5. In the National Housing Bank Act. 1987 —

(a) in section 14,—

(i) in clause (b), after the words "scheduled banks", the words "or to any authority established by or under any Central, State or Provincial Act and engaged in slum clearance" shall be inserted;

(ii) after clause (h), the following clause shall be inserted, namely :—

"(hh) formulating a scheme for the purpose of accepting deposits referred to in clause (a) of section 2 of the Voluntary Deposits (Immunities and Exemptions) Act, 1991 and crediting forty per cent of the amount of such deposits to a special fund c .... To read the full section download the app from Google Play store