section 31
Powers of Central Government to make rules.
The National Bank for Financing Infrastructure and Development Act, 2021Finance202148 sections7 chapters
Chapter VII MISCELLANEOUS
Statutory text
- (1) The Central Government may, by notification, make rules to carry out the provisions of this Act.
- (2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:--
- (a) institutions that may hold shares of the Institution under sub-section (3) of section 5;
- (b) the manner of election of directors by shareholders under clause (e) of sub-section (1) of section 6;
- (c) the terms and conditions of induction of independent directors to the Board under sub-section (5) of section 6;
- (d) the fees and reimbursements in respect of independent directors under sub-section (3), and the term of office and other terms and conditions of service of, the Chairperson, Managing Director, Deputy Managing Directors and other directors of Board under sub-section (5), of section 9;
- (e) manner of disclosure of interest by members of Board and of committees under sub-section (1) of section 16;
- (f) the threshold for determination of beneficial interest by directors of the Institution or any relative of such director under the Explanation to sub-section (3) of section 18;
- (g) conditions subject to which the Institution may enter into a contract or an arrangement under sub-section (1) of section 19;
- (h) the parameters on the basis of which the external agency shall review the performance of the Institution under sub-section (2) of section 20;
- (i) the rate of fees for Government under section 22;
- (j) the form and manner in which the balance-sheet and accounts of the Institution shall be prepared under sub-section (1) of section 25;
- (k) any other matter which is to be, or may be, prescribed.
Study data processing for this section.
PDF: pending for this language.