Section 35. Deposits not to be solicited by unauthorised persons

35. Deposits not to be solicited by unauthorised persons.— No person shall solicit on behalf of any 6[housing finance institution which is a company] either by publishing or causing to be published any — prospectus or advertisement or in any other manner deposits of money from the public unless (a) he has been authorised in writing by the said housing finance institution to do so and specifies the name of the institution which has so authorised him; and (b) the prospectus or advertisement complies with any order made by the[7] [Reserve Bank] under section 30 and with any other provision of law for the time being in force applicable to the publication of such prospectus or advertisement. 1. Subs. by Act 23 of 2019, s. 163, for "the Registrar of Companies" (w.e.f. 9-8-2019). 2. Ins. by Act 18 of 2023, s. 2 and Schedule (w.e.f. 22-01-2024). 3. Subs. 23 of 2019, s.164, for "at any time" (w.e.f. 9-8-2019). 4. Subs. by s. 164, ibid ., for "housing finance institution accepting deposits" (w.e.f. 9-8-2019). 5. Ins. by s. 164, ibid. (w.e.f. 9-8-2019). 6. Subs. by s. 165, ibid ., for "housing finance institution" (w.e.f. 9-8-2019). 7. Subs. by s. 165, ibid ., for "National Housing Bank" (w.e.f. 9-8-2019). 1[35A. Disclosure of information.— (1) Any information relating to a 2[housing finance institution — which is a company], (a) contained in any statement or return submitted by such institution under the provisions of this Chapter; or (b) obtained through audit or inspection or otherwise by[3] [the National Housing Bank or the Reserve Bank, as the case may be,] shall be treated as confidential and shall not, except otherwise provided in this section, be disclosed. (2) Nothing in this section shall apply to — (a) the disclosure by any[2] [housing finance institution which is a company], with the previous permission of[3] [the National Housing Bank or the Reserve Bank, as the case may be], of any information furnished to[3] [the National Housing Bank or the Reserve Bank, as the case may be] under sub-section (1); (b) the publication by[3] [the National Housing Bank or the Reserve Bank, as the case may be], if it considers necessary in the public interest so to do, of any information collected by it under sub-section (1) in such consolidated form as it may think fit without disclosing the name of any 2[housing finance institution which is a company] or its borrowers; (c) the disclosure by the[2] [housing finance institution which is a company] or by[3] [the National Housing Bank or the Reserve Bank, as the case may be] of any such information to any other 2[housing finance institution which is a company] or in accordance with the practice and usage customary amongst such institutions or as permitted or required under any other law: 4[35B. Power of Reserve Bank to exempt housing finance institution.— (1) The Reserve Bank, on being satisfied that it is necessary so to do, may declare by notification that all or any of the provisions of this Chapter shall not apply to a housing finance institution which is a company or a group of such housing finance institutions either generally or for such period as may be specified, subject to such conditions, limitations or restrictions as it may think fit to impose. (2) Every notification made under this section shall be laid, as soon as may be after it is made, before each House of Parliament.]] 1. Ins. by Act 15 of 2000, s. 18 (w.e.f. 12-6-2000). 2. Subs. by Act 23 of 2019, s. 166, for "housing finance institution" (w.e.f. 09-08-2019). 3. Subs. by s. 166, ibid ., for "the National Housing Bank" (w.e.f. 09-08-2019). 4. Subs. by s. 167, ibid ., for section 35B (w.e.f. 09-08-2019).