Section 56: Management of Insurance Company

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1) The insurance company may hire employees as necessary to operate its insurance business.

2) Notwithstanding anything mentioned in sub-section (1), a person with financial interest in the insurance company shall not be hired as employee.

3) While making management expenses during the operation of the insurance business by the insurer, the interest of the insured shall be protected.

4) The limit of management expenses and other provisions pursuant to sub-section (3) shall be as determined by the Authority.

Tagged:
insurance act
nepal law

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Section 98: Ministry to conduct Inspection and Monitoring
Section 87: Provisions concerning Amalgamation and Division
Section 83: Dues to recover
Section 88N: Exchange of Reciprocal Assistance
Section 88: Establishment of Credit Information Centre
Section 9C: Restriction on Making or Receiving Payment
Section 141: Employment may be terminated voluntarily
Section 60: Currency Recall or Withdrawal
Section 6: Not to obtain or make payment by way of abuse or unauthorised use of electronic means
Section 166: Decisions to be executed
Section 26: Fulfilment of Vacant Office
Section 67: Procurement process under this Act not to be applied
Section 27: Power to Refuse Prior Approval
Section 86: Appointment of Auditor of Insurer
Section169: Enact and Enforce Regulations
Preamble
Section 40: Catastrophic Fund
Section 106: Fixation of minimum remuneration
Section 110: Recommendation for Improving Financial Condition of the Insurer
Section 92: Deemed to be unfair labour practice
Section 63: Payment of remuneration and other benefits
Section 151: Standards, Directives or Procedures may be framed and submit
Section 89: Recommending Action
Section 54: Measurement, Weights and Size of Coins
Section 173: Increment of insurance amount
Section 147: Compulsory retirement
Section 66: Security of Government of Nepal may be obtained
Section 104: Functions, Duties and Powers of Special Administration Team
Section 11: Prohibition on employment without entering into employment contract
Section 88B: Provision Relating to the Formation of the Special Administration
Section 61: Type of Insurance Business
Section 5: Functions, Duties and Power of the Authority
Section 12: Formation of Cooperative Bank
Section 43: Restriction on Distribution of Dividend
Section 16: Meeting of the Board
Section 4: Establishment of An Electronic Platform
Article 144: Jurisdiction of the High Court
Section 50: Transaction of Savings and Credits to be made concentrating on Member
Section 104: Organisation or Association may be declared problematic
Section 38: Functions, Duties and Powers of Annual General Meeting
Section 140: Inter-government transactions may be carried out
Section 29: Granting License
Section 23: Notice to be published
Section 71: Allocation of Savings
Section 77: Direction to stop the work
Section 67: Find of a Cooperative Organisation
Section 93: Submission of Report to Government of Nepal
Section 8: Right relating to trade union
Section 18: Tenure of Office of the Director
Section 170: Fixation of basic remuneration
Section 45: Maternity leave
Section 18: Engagement in work as trainee labour
Section 38: Prohibition on deduction of remuneration
Section 101: Cooperative Savings and Credits Security Fund
Section 81: Re-Insurance Business
Section 49: Qualifications of Directors
Section 10C: Provisions Relating to Repatriation, Investment of, and Transfer of Right in Foreign Exchange
Section 66: Liability of labours to rest on the main employer
Section 71: Provisions concerning Other Funds
Section 13: Prohibition on Entering into Contract in Contravention of the Objective of This Act
Section 75: Credit to the Government of Nepal and Purchase of Government Debt Bonds
Section 21: Bid Security
Section 69: Banker, Advisor and Financial Agent
Section 33: Management Committee
Section 71: Evaluation Committee to be Formed
Section 16: Permission of the Bank to be Obtained to Open an Account
Section 30: Criteria to be Followed
Section 108: Provisions After the Achievement of Improvement in Condition of the Insurer
Section 80: Provisions concerning Blacklist
Section 144: Punishment for those who oppose obstacles
Section 28: To be governed as per the prevailing laws
Section 119: Cooperative may be sought
Section 160: Procedures of the cases
Section 134: Power of The Authority
Section 52A: Provisions Relating to Advance Payment
Section 107: Minimum remuneration fixation committee
Section 7: Duty of Persons Who Have Source to Obtain Foreign Exchange
Section 141: Punishment
Section 64: Provisions Concerning Withdrawal of Amount and Operation of Accounts
Section 14A: Not to carry out Dhukuti transactions
Section 11: International Cooperation and Relationship
Section 21: Provisions relating to social security
Section 59: Technical or Management Service Agreement
Section 54: Variation Order
Section 99: Power of the Office to give direction
Section 127: Remuneration for strike or lock-out period
Section 18A: Filing of Case
Preamble
Section 9: Transfer of Goods or Services
Section 60: Able to create a whistleblowing policy
Section 150: To issue the certificate of experience
Section 115: The Authority may give directions to merge or to be amalgamated
Section 57: Payment of Bill or Invoice
Section 103: Functions, duties and powers of the Council
Section 97: Special Provisions concerning Inspection and Monitoring of Organisation or Association carrying out transactions of savings and credits
Section 6: Formation of the Board
Section 62: Conduct to Bidder or Proponent
Section 32: Fixation of working hours
Section 72: Accepting risk based on the property itself
Section 96: Investigation may be conducted
Section 11: Power to Demand Statements
Section 97: Prohibition to act
Section 80: Banking and Financial System and Credit Control
Section 15: Appointment of the Governor
Section 26: Functions of National Cooperatives Federation
Section 17: Cooperative Organisation to be a Corporate Entity
Section 41: Public leave
Section 82: Provisions related to re-insurance contracts
Section 135: Opportunity to be given to submit clarification
Section 74: Power to Make Rules
Section 38: Confidentiality
Section 91: To observe fair labour practice
Section 158: High Court to perform functions of Labour Court
Section 128: Complaint Relating to Payment of Claim
Section 14: Application to be Submitted for Registration
Section 32: Restriction on membership
Section 116: Collective claim may be submitted
Section 56: Provisions on Exchange of Currency
Section 120: Expert Service may be sought
Section 131: Authority to adjudicate a case
Section 171: Special provisions relating to managers and managerial level labours
Section 14: Invitation to Bids
Section 42: Assets to be maintained more than liabilities
Section 86: Provisions relating to transport labours
Section 121: Right to strike for settlement of collective disputes
Section 70: Duties of employer towards non-labour
Section 34: Termination of membership
Section 108: Internal management may be made
Section 29: Not to compel to work overtime
Section 100: Labour audit to be made
Section 105: Formation of Management Committee
Section 88: Provisions relating to domestic labours
Section 1: Short Title, Extension and Commencement
Section 138: Cooperative Education
Section 33: Grievance Management
Section 114: Application may be made to the Office
Section 86: No hindrance to take actions
Section 2: Definition
Section 115: Decision to be made by the Office
Section 134: Due Amount to be recovered
Section 150A: Instructions On Prevention of Money Laundering Must Be Followed
Section 115: Management Committee may write to take action
Section 157: Case may be compromised
Section 106: Notice of the Work
Section 18: Government to be the plaintiff
Section 30: Membership of Organisation
Section 114: Insurer May Merge or be Amalgamated
Section 143: Special Provision Related with The Insured
Section 125: Picketing or assembly may be made
Section 88: Right to give order with respect to Audit of Insurer
Section 24: Non-Procession of Bids
Section 59: Nepal Rastra Bank may take over Management
Section 139: Procedures of Taking Actions
Section 10: Restriction on Export and Transmission of Securities
Section 92: Registrar
Section 33: Evaluation of Technical Proposal
Section 56: Provision Concerning Extension of Contract Period
Section 11C: Power to Stop and Search Motor Vehicle
Section 1: Short title and commencement
Section 51: Procurement Proceeding to be Withheld
Section 12: Employment relationship to be established
Section 88H: Bridge Institution or Unit May be Established
Section 42: Special Provision Relating to Ration Procurement
Section 166: Issue Orders and Directives
Section 11A: Designation of Investigating Officer
Section 24: Issuance of order for creating encumbrances over the assets of a foreign individual
Section 176: Special powers of the Ministry
Section 141: Provisions concerning tax
Section 62: Liquid Assets to be maintained
Section 72: Records of Procurement Proceedings
Section 130: Government of Nepal to be a plaintiff
Section 150: Special provisions relating to regulation, monitoring and supervision
Section 7: Prohibition on discrimination in remuneration for equal work
Section 34: Entitlement of labours to remuneration
Section 85: Preference to be accorded
Section 19B: Power to request details
Section 34: Audit Committee
Section 27: To be considered ineligible
Nepal Rastra Bank Act, 2058
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Section 56: Management of Insurance Company

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