Section 135: Authority May Give Direction to Withold Payment of Insurance or Revoke the Insurance Policy

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Notwithstanding anything contained in this Act, the Authority may give direction not to issue insurance policy to anyone or withhold the payment of an amount to be paid as per the insurance policy or revoke (cancel) the insurance policy in the following circumstances:

(a) To prevent from being any action against the interest of the insurance business or the insured,

(b) To assist in the investigation of any offence,

(c) To assist in controlling the offence of money laundering and financial investment in activities pertaining to terrorism, fraud, corruption, human trafficking or other organised crime.

Tagged:
insurance act
nepal law

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Section 16: Clarification as to Unclear Matter on Bidding or Pre-Qualification Documents
Section 21: Claim or Complaint Not to Lie
Section 47: Dissolution of Board
Section 76: Incorporation of Insurance Company for Micro Business Only
Section 75: Credit to the Government of Nepal and Purchase of Government Debt Bonds
Section 16: Meeting of the Board
Section 62: Foreign Exchange Policy
Section 138: Fineable
Section 120: Appointment of a Liquidator
Section 114: Application may be made to the Office
Section 74A: May Formulate Technical Guidance, Procedures and Directives
Section 97: Prohibition to act
Section 69: Banker, Advisor and Financial Agent
Section 126: Employment contract not to be violated
Section 4: Formation of District Sectoral Cooperative Association
Section 136: Suspension of License or Ban of Insurance Business
Section 150: To issue the certificate of experience
Section 11: Oath to be taken
Section 124: Right to lock-outs
Section 133: Annual Report Submit
Section 88: Right to give order with respect to Audit of Insurer
Section 53: Amendment to Procurement Contract
Section 19: Working Area of Association and Cooperative Bank
Section 143: Settlement of Disputes
Section 1: Short title and commencement
Section 8: Formation of Central Sectoral Cooperative Association
Section 17: Cooperative Organisation to be a Corporate Entity
Section 128: Prohibition on filing of case against loss
Section 82: Special provisions relating to treatment of occupational disease
Section 131: Authority to adjudicate a case
Section 13: Prohibition of Sale and Distribution
Section 88: Establishment of Credit Information Centre
Section 163: International Aid and Relation
Section 90: Work should not be done without a license
Section 2: Definitions
Section 86: Provisions relating to transport labours
Section 93: Provisions relating to Office and inspectors
Section 118: Conditions Relating to Liquidation of Insurer
Section 41: Allocation of net profit
Section 14A: Not to carry out Dhukuti transactions
Section 86: Appointment of Auditor of Insurer
Section 32: Power to Give Directions
Section 146: Recovery to be made as government due
Section 173: Increment of insurance amount
Section 12: Personal Information Must be Kept Confidential
Section 125: Picketing or assembly may be made
Section 145: Departmental actions may be taken
Section 43: Annual Budget
Section 148: Request for Details
Section 153: Powers of Labour Court
Section 9: Payment of Price of the Exported Goods
Section 124: Payment of Re-insurance Claim
Section 70: Cooperative Promotion Fund
Section 99: Fine for Violation of the Bank’s Regulation
Section 23A: Standards to be Followed
Section 2: Definitions
Section 30: Short List to be Prepared by Soliciting Expression of Interest Openly
Section 18: Working Area of Cooperative Organisation
Section 25: Government of Nepal to be the plaintiff
Section 148: Payment of benefits
Section 69: Activities restricted to be carried on by Insurance Company
Section 101: Procedures for Pecuniary Penalty and Punishment
Section 87: Audit of Insurer
Section 28: To be governed as per the prevailing laws
Section 142: Contract not to be concluded
Section 57: Payment of Bill or Invoice
Section 58: Provisions Relating to Currency Inventory and Issuance of Currency
Section 65: Loans or Grants may be obtained
Section 8: Qualification and Disqualification of Chairperson and Member
Section 60: Able to create a whistleblowing policy
Section 4: Prohibition on employing in forced labour
Section 59: Termination of Procurement Contract and Remedy Therefor
Section 9B: Acts Not to be Done by the Exporter
Section 29: Consultancy Services May be Procured
Section 104: Office of member of the Council to be vacant
Section 32: Can open a branch office
Section 35: List to be Published
Section 150: Insured Insurance Protections Fund
Preamble
Section 76: To stop work in the case of immediate danger
Section 56: Provisions on Exchange of Currency
Section 6A: Preparation of Exiting List
Section 29: Regulation may be framed
Section 102: Formation of Central Labour Advisory Council
Section 134: Due Amount to be recovered
Section 136: Exercise of Voting Right
Section 29: Functions, Duties and Powers of the Board
Section 7: Deemed to be a Contract
Section 109: Transfer may be made
Section 87: Provisions concerning Amalgamation and Division
Section 43: Provision Relating to Renting House and Land and Obtaining Service on Contract
Section 94: Delegation of Authority
Section 92: Registrar
Section 97: Government of Nepal to be Plaintiff
Section 127: Double Fine to be imposed
Section 79: Regulatory Powers of the Bank
Section 55: Issuance of Currency and Security
Section 78: Special provisions relating to occupational safety and health
Section 1: Short Title and Commencement
Section 26: Summary Procedure to be Adopted
Section 90: Provisions concerning Liquidation
Section 161: Contact with the Government of Nepal
Section 9C: Restriction on Making or Receiving Payment
Section 45: Directors may be removed from Office
Section 61A: Departmental Action to be Taken
Section 116: Recommendation may be made
Section 17: Buyer’s Obligations
Section 21: Action not be initiated on the ground of breach of secrecy
Section 73: Duties of labour
Section 132: Details to be Provided
Section 12: Vacancy in the office of Chairperson or Member
Section 179: This Act to prevail
Section 166: Decisions to be executed
Section 108: Internal management may be made
Section 88N: Exchange of Reciprocal Assistance
Section 26: Rejection of Bids or Cancellation of Procurement Proceedings
Section 75: Micro Insurance is Required
Section 146: Resumption of operation
Section 138: Cooperative Education
Section 11E: Power to Arrest
Section 56: No Distribution of Dividend
Section 63: Blocklisting and Exclusion from the Blocklist
Section 14: Invitation to Bids
Section 95: Inspection and Checking of Accounts
Section 22: Grounds for Removal of the Directors from Office
Section 54: Variation Order
Section 12: Not to Make Loss by Making Alteration in Account or Ledger or by Committing Forgery or Fraud
Section 159: To forward the matter to the body having jurisdiction
Section 130: Government of Nepal to be a plaintiff
Section 151: Formation of Labour Court
Foreign Exchange (Regulation) Act 2019
Section 53: Measurement, Weights and Size of Coins
Section 37: Power to Make a Directory
Section 72: Duties of manufacturers, importers and suppliers
Section 8: Not to misuse credit
Section 15: To be Registered
Section 40: Computation of net profit and loss
Section 86C: Bank to Take Action Against Problematic Commercial Bank or Financial Institution
Section 110: Power to Frame Rules and Bylaws
Section 95: Powers, functions and duties of inspector
Section 10: Restriction on Export and Transmission of Securities
Section 70: Legal Documents to be Kept on Website
Section 141: Punishment
Section 131: Misconduct and punishment
Section 117: To hold negotiations on collective claims, demands
Section 14: Continuity of existence of the employment relationship despite change in ownership
Section 96: Investigation may be conducted
Section 6: Not to obtain or make payment by way of abuse or unauthorised use of electronic means
Section 174: Delegation of authority
Section 44: Allotment of Shares
Section 86A: Commercial Banks and Financial Institutions to Provide Information to the Bank
Section 48: Formation of Accounts Supervision Committee
Section 38: Confidentiality
Section 39: Capital of the Bank
Section 30: Membership of Organisation
Section 22: Fines to be Imposed
Section 19: Proceedings may be initiated by detaining into the custody
Section 121: Priorities on the Payment of Liabilities in Case of Liquidation of the Insurance company
Section 151: Standards, Directives or Procedures may be framed and submit
Section 38: Procurement Contract to be Concluded
Section 41: Public leave
Section 16: Seller’s Liability
Section 170: Implementing Guidelines and Procedures
Section 78: Exemptions, Facilities and Discounts
Section 33: Arrangement for transportation to be made
Section 23: Foreign citizen to obtain work permit to work in Nepal
Section 2: Definitions
Section 97: Special Provisions concerning Inspection and Monitoring of Organisation or Association carrying out transactions of savings and credits
Section 27: Acceptance of Bid and Procurement Contract
Section 165: Appeal
Section 152: Repeal and Saving
Section 25: Adjudication proceedings and disposal of the case not be affected
Section 40: Catastrophic Fund
Section 63: Insurance Policy
Section 14: Application to be Submitted for Registration
Section 33: Can open a liaison office
Section 39: Remuneration for reserve period
Section 92: Deemed to be unfair labour practice
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Section 135: Authority May Give Direction to Withold Payment of Insurance or Revoke the Insurance Policy

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