The National Housing Bank Act

Staff of National Housing Bank

Delegation of powers

Obligation as to fidelity and secrecy

Defects in appointment not to invalidate acts, etc

Arrangement with National Housing Bank on appointment of directors to prevail

Protection of action taken under the Act

Indemnity of directors

Nomination in respect of deposits, bonds, etc

Explanation from tax on income

Penalties

Offences by companies

Cognizance of offences

Application of fine

Power of National Housing Bank and Reserve Bank to impose fin

Bankers’ Books Evidence Act 18 of 1891, to apply in relation to the National Housing Bank

Liquidation of National Housing Bank

Power to make rules

Power of the Board to make regulations

Amendment of certain enactments

Power to remove difficulties


MISCELLANEOUS


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.] 

LAWGIST

# 52 Application of fine