(1) The Board of Directors of the National Housing Bank shall consist of the following, namely:—

Provided that the same person may be appointed as Chairman and as Managing Director;

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;]

(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.

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).