Section 40: Catastrophic Fund

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1) Every insurer shall maintain a catastrophic fund for any losses that may be incurred due to catastrophes that may occur in future.

2) Other arrangements related to the catastrophic fund shall be as determined by the Authority.

Tagged:
insurance act
nepal law

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Section 88N: Exchange of Reciprocal Assistance
Section 88M: Final Description of the Work Relating to Resolution to be Submitted
Section 10: Goods or Services May be Returned
Section 88D: Power to be Automatically Suspended During the Period of Resolution
Section 19: Withdrawal and Modification of Bid
Section 183: Repeal and saving
Section 48: Formation of Accounts Supervision Committee
Section 16: Registration may be Denied
Section 24: Restriction on Insurance Business without license
Section 112: Repeal and Saving
Section 32: Fixation of working hours
Section 34: Opening of Financial Proposal
Section 2: Definitions
Section 98: Bank to Provide Information
Section 163: International Aid and Relation
Section 12: Vacancy in the office of Chairperson or Member
Section 73: Investment in Subsidiary Company
Section 92: Deemed to be unfair labour practice
Section 52: Limit of Personal Saving
Section 147: Compulsory retirement
Section 151: Standards, Directives or Procedures may be framed and submit
Section 150A: Instructions On Prevention of Money Laundering Must Be Followed
Section 106C: Government of Nepal May Give Directives
Section 126: Employment contract not to be violated
Section 41: Public leave
Section 21: Transaction, Business, Industries, or Project may be operated
Section 69: Procurement Transaction May be Carried Out Through Electronic Communications Means
Section 79: Debts to be recovered
Section 121: Right to strike for settlement of collective disputes
Section 104: Functions, Duties and Powers of Special Administration Team
Section 4: Prohibition on employing in forced labour
Section 92: Auditing
Section 18: Liability Relating to Transportation
Section 35: Function, Duties and Powers of the Audit Committee
Section 143: Settlement of Disputes
Section 152: Complaint Hearing
Section 106A: Not to Work in Commercial Bank or Financial Institution
Section 37: Entitlement to festival expense
Section 67: Restrictions on undertaking business in partnership or acquire assets in ownership
Section 16: Appointment of the Deputy Governor
Section 30: Criteria to be Followed
Section 8: Not to misuse credit
Section 158: Not being held accountable for actions done with good intentions
Section 139: Financial Assistance to be provided
Section 76: Incorporation of Insurance Company for Micro Business Only
Section 95: Cancellation of License
Section 52: Meetings of Board of Directors
Section 61A: Departmental Action to be Taken
Section 11: Power to Demand Statements
Section 29: Amendment to Bylaws and Internal Procedures
Section 96: Penalty and Punishment
Section 138: Punishment may be remitted
Section 97: To render necessary assistance
Section 12: Personal Information Must be Kept Confidential
Section 43: Provision Relating to Renting House and Land and Obtaining Service on Contract
Section 56: Provisions on Exchange of Currency
Section 90: Provisions concerning Liquidation
Section 3: Establishment of the Authority
Section 145: Retrenchment may be made
Section 130: Government of Nepal to be a plaintiff
Section 62: Foreign Exchange Policy
Section 11: Prohibition on employment without entering into employment contract
Section 144: Notice to be given
Section 88: Establishment of Credit Information Centre
Section 95: Inspection and Checking of Accounts
Chapter-2 Establishment of Authority and Its Functions, Duties and Power
Section 148: Request for Details
Section 8: Electronic Commerce Payments
Section 113: Submission of individual claims
Section 105A: State Government may constitute a State Labour Advisory Council
Section 119: Cooperative may be sought
Section 56: No Distribution of Dividend
Section 74: To form safety and health committee
Section 5: Restriction on Export and Import of Certain Currency and Bullion
Section 110: To be borne from Assets of Organisation or Association
Section 162: Coordinate with Public Bodies
Section 20: Fund of the Insurance Authority
Section 23: Notice to be published
Section 122: Offences deemed to be committed
Section 16: Trainees may be engaged in work
Section 3: Formation of Organisation
Section 115: Decision to be made by the Office
Section 113: Audit Report to be prepared
Section 14A: Not to carry out Dhukuti transactions
Section 174: Delegation of authority
Section 5: Function, Duties and Powers of the Bank
Section 72: Accepting risk based on the property itself
Section 90: Work should not be done without a license
Section 14: Application to be Submitted for Registration
Section 5A: Approval to be Made
Section 88I: Sequence of Priority of Payment
Section 1: Short title and commencement
Section 100: Annual Report to be submitted
Section 39: Other Provision for Consultancy Services
Section 7: Not to avail or provide loans in an unauthorised manner
Section 70: Consultation and Information Relating to External Debt
Section 11J: To Submit Report
Section 18: Government to be the plaintiff
Section 3: Establishment of the Bank
Section 137: Revocation (Cancellation) of License of the Insurer
Section 155: Power to demand bank guarantee or deposit
Section 56: Management of Insurance Company
Section 1: Short title and commencement
Section 116: Recommendation may be made
Section 167: Pursuant to this Act
Section 73: Duties of labour
Section 12A: Not to make any Fraudulent Activities to Bank and Financial Institutions and Cooperatives
Section 75: Micro Insurance is Required
Section 153: Powers of Labour Court
Section 98: To Regulate, Inspect and Monitor
Section 107: Inventory to be prepared
Section 127: Person Entitled to Get Payment
Section 52: Contribution for provident fund
Section 69: Activities restricted to be carried on by Insurance Company
Section 49: Application May be Filed Before the Review Committee
Section 27: Acceptance of Bid and Procurement Contract
Section 33: Evaluation of Technical Proposal
Section 41: Board of Directors
Section 29: Regulation may be framed
Section 148: Payment of benefits
Section 110: To be deputed as representative
Section 60: Submission of details by licensee
Section 11: Not to stop credit facility in the way to loss working project of borrower
Section 25: Public Notification of Governor’s Appointment
Section 3: Not to open an account or demand cash payment in an unauthorised manner
Section 45: Operation of Open Market Transaction
Section 68: International Clearing and Payment Agreements
Section 23: Constitution, Functions and Duties of Inquiry Committee
Section 1: Short title and commencement
Section 18: Tenure of Office of the Director
Section 11I: To Give Receipt
Section 38: Procurement Contract to be Concluded
Section 37: Negotiations with the Proponent
Section 86C: Bank to Take Action Against Problematic Commercial Bank or Financial Institution
Section 20: No Exemption from Liability
Section 65: Group Insurance Fund
Section 29: Not to compel to work overtime
Section 103: Functions, duties and powers of the Council
Article 144: Jurisdiction of the High Court
Section 170: Implementing Guidelines and Procedures
Section 74B: Right to Remove Obstacles
Section 14: Obligations of the Intermediary Practitioner
Section 160: Procedures of the cases
Section 131: Authority to adjudicate a case
Section 38: Prohibition on deduction of remuneration
Section 181: To frame and implement directives and procedures
Section 22: Provisions relating to Delivery of Notice
Section 71: Duties of the responsible person
Section 157: Case may be compromised
Section 46: Compulsory Deposit of Commercial Banks and Financial Institutions
Section 64: Provisions Concerning Withdrawal of Amount and Operation of Accounts
Section 35: Facilities not to be entitled to
Section 14: Inspection
Bonus Act 2030
Section 57: Social security scheme to be applicable
Section 1: Short Title, Extension and Commencement
Section 118: Terms and conditions of services of chairperson and members of Management Committee
Section 70: Legal Documents to be Kept on Website
Section 54: Variation Order
Section 120: Appointment of a Liquidator
Section 138: Cooperative Education
Section 40: Weekly leave
Section 17: Time and limitation for the Lodgement of First Information Report
Section 109: Authority may be delegated
Section 14: Not to Carry Out and Cause to Carry Out Irregular Economic and Financial Transactions
Section 156: Establishment of Insurance Institutions
Section 89: Appointment of a Liquidator
Section 103: ………………….
Section 136: Suspension of License or Ban of Insurance Business
Section 80: Banking and Financial System and Credit Control
Section 85: Audit Committee of Insurer
Section 102: Measures For the Reformation of Problematic Insurer
Section 104: Office of member of the Council to be vacant
Section 81: Re-Insurance Business
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Section 40: Catastrophic Fund

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