Section 5(3) in The National Housing Bank Act, 1987
(3)Subject to the provisions of sub-section (1) and save as otherwise provided in the regulations made under this Act,-(a)[ the Chairman, if he is a whole-time Director or if he is holding offices both as the Chairman and the Managing Director, or(b)the Managing Director, if the Chairman is not a whole-time Director, or if the Chairman being a whole-time Director, is absent,]shall also have powers of general superintendence, direction and management of the affairs and business of the National Housing Bank and may also exercise all powers and do all acts and things which may be exercised or done by the National Housing Bank and shall act on business principles with due regard to public interest.
