Section 36CDefinitions

Read in the full Act

Section 36C: Definitions

36C. Definitions

36C. Definitions.—In this Chapter, unless the context otherwise requires,—

(a)

"Appellate Tribunal" means the Appellate Tribunal established under section 36-I;

(b)

"approved institution" means—

(i)

a housing finance institution which has been granted a certificate of registration under sub-section (5) of section 29A;

(ii)

a scheduled bank;

(iii)

National Housing Bank acting as trustee or otherwise in a transaction of securitisation of housing mortgages undertaken by the National Housing Bank;

(iv)

such other institutions as the Central Government may, on the recommendation of the National Housing Bank, by notification, specify;

(c)

"assistance" means any direct or indirect financial assistance granted, by an approved institution during the course of any housing finance activity undertaken by it;

(d)

"borrower" means any person to whom any assistance has been given by an approved institution for the purposes of purchase, construction, repairs, extension or renovation of a residential house;

(e)

"dues" means any liability which is claimed as due from any person by an approved institution and includes interest, costs, charges and other amount payable in relation thereto;

(f)

"recovery officer" means an officer appointed under section 36D.

Amendment notes (1)

Ins w.e.f. 12-6-2000 . Ins. by Act 15 of 2000, s. 20 (w.e.f. 12-6-2000).