Section 153: Not to Make Insurance Transactions with Anyone Except Insurer

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1) Any person or organisation shall not make any transactions related to the insurance business with anyone except the insurer possessing a license pursuant to this Act.

2) The insurance of properties situated in Nepal and liabilities to be created within Nepal shall be made only with the insurer possessing a license pursuant to this Act.

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insurance act
nepal law

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Section 155: Power to demand bank guarantee or deposit
Section 42: Allocation of net loss
Section 51: Leave not as a matter of right
Section 115: The Authority may give directions to merge or to be amalgamated
Section 31: Refusal for Prior Approval and License
Section 149: Power to frame Rules
Section 85: Special provisions relating to construction labours
Section 119: Settlement of dispute through arbitration
Section 168: Power to Frame Rules
Section 25: Government of Nepal to be the plaintiff
Section 45: Directors may be removed from Office
Section 137: Period for taking decision
Section 13: Prohibition of Sale and Distribution
Section 88: Dissolution and Revocation of Registration
Section 90: Provisions relating to enterprise which is incorporated in foreign country and operates business in Nepal
Section 27: Remuneration, conditions of service, benefits of and other provisions relating to foreign labours
Section 148: Payment of benefits
Section 19: Working Area of Association and Cooperative Bank
Section 11D: Power to Search Building or Place of Transaction
Section 64: Provisions Concerning Withdrawal of Amount and Operation of Accounts
Section 31: Additional remuneration to be paid
Section 66: Security of Government of Nepal may be obtained
Section 85: Audit Committee of Insurer
Section 168: Power to impose punishment in the event of non-execution of judgment, compromise or agreement
Section 11: Process and Stage of Bidding
Section 138: Punishment may be remitted
Section 166: Decisions to be executed
Section 142: Contract not to be concluded
Section 9: Procurement to be Made by Inviting Open Bid
Section 6: Prior Right of the Bank
Section 102: Mutual Security Services may be conducted
Section 44: Construction Works May be Caused to be Carried Out by the Users Committee or Beneficiary Community
Section 18: Liability Relating to Transportation
Section 36: General Meeting
Section 33: Arrangement for transportation to be made
Section 88O: Application for Liquidation May be Made
Section 1: Short Title, Extension and Commencement
Section 38: Procurement Contract to be Concluded
Section 177: Labour coordination committee
Section 53: Amendment to Procurement Contract
Section 4: Formation of District Sectoral Cooperative Association
Section 39: Other Provision for Consultancy Services
Section 29: Coordination Required
Section 78: Exemptions, Facilities and Discounts
Section 13: Functions Duties and Powers of the Chairperson
Section 20: Reward to be Provision of Information
Section 60: Public Notice of Procurement Contract
Section 13: No Operation of Cooperative Organisation without Registration
Section 143: Special Provision Related with The Insured
Section 19: Prohibition of Engaging in Improper Commercial or Business Activities
Section 77: Direction to stop the work
Section 109: This Act to be Applicable
Section 128: Prohibition on filing of case against loss
Section 66: Foreign Exchange Reserve
Section 32: Power to Give Directions
Section 47: Dissolution of Board
Section 52: Power to Issue Banknotes and Coins
Section 167: Power of the Office to have execution of decisions
Section 66: Provision Concerning Procurement to be Made in Special Circumstances
Section 44: Directors not to continue to hold the office
Section 72: Records to be maintained
Section 11A: Designation of Investigating Officer
Section 154: Formation of Expert Groups
Section 67: Restrictions on undertaking business in partnership or acquire assets in ownership
Section 9B: Acts Not to be Done by the Exporter
Section 11: Power to Demand Statements
Section 49: Accumulation of leave
Section 119: Power of The Authority to Initiate the liquidation Process
Section 136: Suspension of License or Ban of Insurance Business
Section 23: Constitution, Functions and Duties of Inquiry Committee
Section 73: Investment in Subsidiary Company
Section 106: Fixation of minimum remuneration
Section 55: Prohibition on Disbursing Credit
Section 133: Annual Report Submit
Section 10: Goods or Services May be Returned
Section 24: Investigation and Filing of Cases
Section 63: Provisions concerning sale and withdrawal of shares
Section 134: Power to suspend
Section 65: Group Insurance Fund
Section 42: Election of Board
Section 80: Banking and Financial System and Credit Control
Section 21: Action not be initiated on the ground of breach of secrecy
Section 164: The Government of Nepal may Issue Directives
Section 17: Punishment
Section 98: Bank to Provide Information
Section 5: Cost Estimate to be Prepared
Section 70: Duties of employer towards non-labour
Section 63: Payment of remuneration and other benefits
Section 17: Deadline for Submission of Bids or Pre-Qualification Proposals
Section 76: Incorporation of Insurance Company for Micro Business Only
Section 150: To issue the certificate of experience
Section 12A: Not to make any Fraudulent Activities to Bank and Financial Institutions and Cooperatives
Section 117: Liquidation of Insurance Company
Section 65: Functions, Duties and Powers of Public Procurement Monitoring Office
Section 22: Grounds for Removal of the Directors from Office
Section 14: Invitation to Bids
Section 49: Qualifications of Directors
Section 42: Substitute leave
Section 5: Functions, Duties and Power of the Authority
Section 105A: State Government may constitute a State Labour Advisory Council
Section 4A: Provisions Relating to Foreign Exchange Obtained by Citizens of Nepal
Section 48: Formation of Accounts Supervision Committee
Section 51: Monetary Unit
Section 55: Delegation of Powers
Section 58: Functions, Duties and Power of Chief Executive
Section 48: Review Committee
Section 38: Confidentiality
Section 71: Evaluation Committee to be Formed
Section 69: Procurement Transaction May be Carried Out Through Electronic Communications Means
Section 117: Report to be submitted
Section 91: License to Insurance Mediators
Section 82: Credits Recovery Tribunal
Section 86F: Power of the Bank for Corrective Action
Section 120: Expert Service may be sought
Section 21: Claim or Complaint Not to Lie
Section 55: Accidental insurance to be made
Section 113: Submission of individual claims
Section 154: Proceeding against contempt of court
Section 8: Qualification and Disqualification of Chairperson and Member
Section 129: To refer for investigation
Section 147: Compulsory retirement
Section 129: Collective bargaining or agreement to be made in good faith
Foreign Exchange (Regulation) Act 2019
Section 88E: Notice and Registration of the Work Relating to Resolution
Section 71: Allocation of Savings
Section 71: Deposit Collection
Section 26: Functions of National Cooperatives Federation
Section 39: Capital of the Bank
Section 86D: Effect of the Control of the Bank on any Commercial Bank or Financial Institution
Section 79: Debts to be recovered
Section 41: Provision for Direct Procurement
Section 74: Obtained Approval While Selling Assets
Section 105: Official to be Suspended
Section 2: Definitions
Section 144: Punishment for those who oppose obstacles
Section 59: Nepal Rastra Bank may take over Management
Section 1: Short title and commencement
Section 117: To hold negotiations on collective claims, demands
Section 40: Catastrophic Fund
Section 37: Functions, Duties and Powers of Preliminary General Meeting
Section 24: Issuance of order for creating encumbrances over the assets of a foreign individual
Section 16: Registration may be Denied
Section 35: Evaluation of Financial Proposals
Section 14: Formation of the Board
Section 183: Repeal and saving
Section 9: Not to misuse banking resources, means and assets
Section 131: Misconduct and punishment
Section 100: Regulation Fee
Section 131: Operation and Management of Insurance in Province
Section 123: Special provisions relating to the submission of collective claims, demands
Section 149: No Obstruction for Punishment
Section 26: Prior approval required
Section 12: Employment relationship to be established
Section 143: Settlement of Disputes
Section 74: Power to Make Rules
Bonus Act 2030
Section 103: Stabilisation Fund
Section 141: Punishment
Section 26: Waiver in the Claim of Punishment may be Happen
Section 4: Procedure for Carrying on Foreign Exchange Transactions
Section 49: Functions, duties and powers of Accounts Supervision Committee
Section 72: Records of Procurement Proceedings
Section 166: Issue Orders and Directives
Section 68: International Clearing and Payment Agreements
Section 163: Power of the Department or Office to decide
Section 23: Examination of Bids
Section 34: Entitlement of labours to remuneration
Section 83: Direction may be issued
Section 11C: Power to Stop and Search Motor Vehicle
Section 86H: Decreasing the Capital of Problematic Commercial Bank or Financial Institution
Section 20: Classification may be made on Sectoral Basis
Section 27: Bylaws to be framed
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Section 153: Not to Make Insurance Transactions with Anyone Except Insurer

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