Section 3: Establishment of the Authority

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1) Nepal Insurance Authority has been established to act as a regulatory body for the insurance business.

2) The central office of the authority shall be situated in Kathmandu Valley, and the authority may, as required, open its branch or contact office within or outside Nepal.

Tagged:
insurance act
nepal law

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Section 49: Qualifications of Directors
Section 100: Labour audit to be made
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Section 51: Leave not as a matter of right
Section 70: Duties of employer towards non-labour
Section 51: Reference interest rate may be determined
Section 47: Remuneration need not be paid
Section 130: Observance of discipline and duties
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Section 126: Apparent loss or damage
Section 173: Increment of insurance amount
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Schedule
Section 106: Notice of the Work
Section 143: Special Provision Related with The Insured
Section 81: Re-Insurance Business
Section 152: Majority decision to prevail
Section 82: Provisions related to re-insurance contracts
Section 103: Stabilisation Fund
Section 168: Power to impose punishment in the event of non-execution of judgment, compromise or agreement
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Section 2: Definitions
Section 85: Preference to be accorded
Section 118: Terms and conditions of services of chairperson and members of Management Committee
Section 28: Working hours
Section 32: Can open a branch office
Section 84: To be sent for freezing
Section 85: Audit Committee of Insurer
Section 26: Functions of National Cooperatives Federation
Section 86: Provisions relating to transport labours
Section 31: Application to be submitted to acquire membership
Section 9: Tenure of Chairperson and Members
Section 90: Work should not be done without a license
Section 56: Management of Insurance Company
Section 14B: Not to carry out banking transactions in an illegal manner
Section 67: Prohibition on collecting fee from labour
Section 77: Direction to stop the work
Section 116: Collective claim may be submitted
Section 162: Right to make complaint
Section 78: Exemptions, Facilities and Discounts
Section 95: Powers, functions and duties of inspector
Section 104: Office of member of the Council to be vacant
Section 120: Expert Service may be sought
Section 135: Opportunity to be given to submit clarification
Section 164: The Government of Nepal may Issue Directives
Section 112: Final Report to be Submitted
Section 23: Audit Committee
Section 11: Not to stop credit facility in the way to loss working project of borrower
Section 41: Board of Directors
Section 29: Amendment to Bylaws and Internal Procedures
Section 155: Power to demand bank guarantee or deposit
Section 24: Issuance of order for creating encumbrances over the assets of a foreign individual
Section 14: Not to Carry Out and Cause to Carry Out Irregular Economic and Financial Transactions
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Section 1: Short title and commencement
Section 55: Accidental insurance to be made
Section 135: Special Provisions concerning operation of Association
Section 35: List to be Published
Section 70: The Insurance Appraisal
Section 93: Responsibilities of Insurance Intermediaries
Section 20: Classification may be made on Sectoral Basis
Section 92: Deemed to be unfair labour practice
Section 101: Making application in convenient Office
Section 9: Right to remedy
Section 120: Appointment of a Liquidator
Section 10: Formation of Federation of National Cooperatives
Section 143: Employment may be terminated on the ground of health
Section 63: Payment of remuneration and other benefits
Section 58: Labours may be employed through supplier
Section 27: Power to Refuse Prior Approval
Section 142: Don’t work in the Insurance Business
Section 119: Cooperative may be sought
Section 37: Functions, Duties and Powers of Preliminary General Meeting
Section 15: Non-abuse of regulatory opportunity
Section 121: Right to strike for settlement of collective disputes
Section 145: Retrenchment may be made
Section 103: Functions, duties and powers of the Council
Section 28: To be governed as per the prevailing laws
Section 174: Delegation of authority
Section 21: Action not be initiated on the ground of breach of secrecy
Section 4: Prohibition on employing in forced labour
Section 161: Appeal to the Supreme Court
Section 123: Saving of actions taken in good faith
Section 149: Power to frame Rules
Section 40: Catastrophic Fund
Section 143: Settlement of Disputes
Section 41: Claim Payable Fund and Reserve Fund
Section 19: Part-time employment
Section 68: Formulation of safety and health Policy
Section 34: Cancellation of License
Section 107: Inventory to be prepared
Section 170: Implementing Guidelines and Procedures
Section 59: Nepal Rastra Bank may take over Management
Section 12: Not to Make Loss by Making Alteration in Account or Ledger or by Committing Forgery or Fraud
Section 62: Insurance Contract
Section 69: Duties of employer towards labour
Section 129: Complaint Regarding Loss or Damage
Section 105: Formation of Management Committee
Section 160: Delegation of Authority
Section 106: Fixation of minimum remuneration
Section 139: Procedures of Taking Actions
Section 22: Audit
Section 165: Provide Expert Services
Section 170: Fixation of basic remuneration
Section 167: Pursuant to this Act
Section 53: Functions, Duties and Powers of the Board
Section 133: Provisions relating to misconduct may be made in the bye-law
Section 70: Cooperative Promotion Fund
Section 21: Provisions relating to social security
Section 132: Details to be Provided
Section 115: Management Committee may write to take action
Section 40: Weekly leave
Section 27: Bylaws to be framed
Section 154: Formation of Expert Groups
Section 31: Additional remuneration to be paid
Section 16: Registration may be Denied
Section 100: Annual Report to be submitted
Section 117: Liquidation of Insurance Company
Section 129: Collective bargaining or agreement to be made in good faith
Section 77: Ineligibility for Appointing Auditor
Section 109: Provisions to be made in Case improvement Not Achieved in the Condition of the Insurer
Section 131: Authority to adjudicate a case
Section 94: Delegation of Authority
Section 102: Measures For the Reformation of Problematic Insurer
Section 125: Settlement of Small Amount Claim
Section 76: Appointment of an Auditor
Section 166: Issue Orders and Directives
Section 74: Obtained Approval While Selling Assets
Section 34: Termination of membership
Section 45: Directors may be removed from Office
Section 148: Payment of benefits
Section 19B: Power to request details
Section 93: Provisions relating to Office and inspectors
Section 156: Power to order payment of interest
Section 66: Security of Government of Nepal may be obtained
Section 1: Short title and commencement
Section 15: Continuity of existence of employment relationship during the period held in reserve
Section 120: Power to form labour arbitration tribunal
Section 134: Due Amount to be recovered
Section 139: Financial Assistance to be provided
Section 22: Provisions relating to Delivery of Notice
Section 144: Punishment for those who oppose obstacles
Section 124: Payment of Re-insurance Claim
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Section 63: Insurance Policy
Section 122: Offences deemed to be committed
Section 118: Conditions Relating to Liquidation of Insurer
Section 30: Provisions relating to overtime
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Section 151: Insurance Development Fund
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Section 119: Power of The Authority to Initiate the liquidation Process
Section 52: Meetings of Board of Directors
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Section 57: Appointment of the Executive Director
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Section 151: Formation of Labour Court
Section 91: Utilisation of Assets after Liquidation
Section 105: Official to be Suspended
Section 39: Remuneration for reserve period
Section 156: Establishment of Insurance Institutions
Section 149: Labours to get first priority
Section 77: Contract to be made
Section 67: Find of a Cooperative Organisation
Preamble
Section 57: Prohibition of Purchase of Goods with Commercial Objectives
Section 63: Provisions concerning sale and withdrawal of shares
Section 18: Working Area of Cooperative Organisation
Section 16: Punishment to the Persons Creating Hindrance
Section 181: To frame and implement directives and procedures
Section 150A: Instructions On Prevention of Money Laundering Must Be Followed
Section 136: Exercise of Voting Right
Section 140: Inter-government transactions may be carried out
Section 150: To issue the certificate of experience
Section 129: To refer for investigation
Section 72: Accepting risk based on the property itself
Section 87: Audit of Insurer
Section 130: Government of Nepal to be a plaintiff
Section 69: Secured Capital Redemption Fund
Section 2: Definitions
Section 127: Double Fine to be imposed
Section 68: Reserve Fund
Section 52: Limit of Personal Saving
Section 5: Formation of District Cooperative Association
Section 115: Decision to be made by the Office
Section 95: Cancellation of License
Section 61: Confidentiality to be maintained
Section 31: Refusal for Prior Approval and License
Section 14A: Not to carry out Dhukuti transactions
Section 99: Power of the Office to give direction
Section 171: Act Implementation Measurement
Section 121: Priorities on the Payment of Liabilities in Case of Liquidation of the Insurance company
Section 79: To give information
Section 175: Saving of acts done in good faith
Section 87: Special provisions relating to tourism labours
Section 82: Credits Recovery Tribunal
Section 5: Functions, Duties and Power of the Authority
Section 98: Ministry to conduct Inspection and Monitoring
Section 1: Short title and commencement
Section 102: Formation of Central Labour Advisory Council
Section 102: Mutual Security Services may be conducted
Section 141: Provisions concerning tax
Section 160: Procedures of the cases
Section 108: Provisions After the Achievement of Improvement in Condition of the Insurer
Section 127: Remuneration for strike or lock-out period
Section 37: May order capital reduction
Section 142: Employment may be terminated on the ground of incompetence
Section 141: Punishment
Section 3: Not to open an account or demand cash payment in an unauthorised manner
Section 46: Not to be involved in the decision-making process having conflict of personal interest
Section 114: Application may be made to the Office
Section 172: Entitlement to remuneration and other benefits
Section 111: Other Provisions Regarding Special Management of The Insurer
Section 177: Labour coordination committee
Section 27: Remuneration, conditions of service, benefits of and other provisions relating to foreign labours
Section 113: Submission of individual claims
Section 112: Performance evaluation of labours by enterprise
Section 97: Special Provisions concerning Inspection and Monitoring of Organisation or Association carrying out transactions of savings and credits
Section 54: Functions of Cooperative Bank
Section 71: Allocation of Savings
Section 64: Insurance Premium
Section 43: Functions, duties and powers of Board
Section 97: To render necessary assistance
Section 35: Payment of remuneration
Section 94: Renewal of License of Insurance Intermediaries
Section 14: Application to be Submitted for Registration
Section 145: Departmental actions may be taken
Section 126: To freeze transactions, accounts and assets
Section 29: Granting License
Section 103: Special Administration/Management Team
Section 28: Internal Procedures may be framed
Section 76: To stop work in the case of immediate danger
Section 8: Formation of Central Sectoral Cooperative Association
Section 81: To engage in easier work
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