8. Amendment of section 15 of the principal enactment

Section 15 of the principal enactment is hereby amended by the repeal of subsection (2) of that section and the substitution of the following subsection therefor :—

Housing Development Finance Corporation of

“(2) The Board may, from time to time fix and vary the salaries and allowances of such officers and servants of the Bank, taking into consideration the salaries and allowances payable to employees of state owned banking institutions engaged in similar objectives and operations.”.