Section 150: Special provisions relating to regulation, monitoring and supervision

¹1) The regulation, monitoring and supervision of a cooperative organisation registered at the local level and having an annual turnover of up to twenty-five million rupees shall be carried out by the concerned local level.

2) The regulation, monitoring and supervision of a cooperative organisation registered at the local level and having an annual turnover of more than twenty-five million rupees and up to fifty million rupees and a cooperative organisation registered in a province and having an annual turnover of up to fifty million rupees shall be carried out by the concerned province.

3) The regulation, monitoring, and supervision of a cooperative organisation registered at the local level or province, with an annual turnover of more than fifty million rupees and a cooperative organisation registered with the Department, shall be carried out by the Department.

4) The regulation, monitoring and supervision of a cooperative organisation with an annual turnover of two or more local levels or provinces as referred to in Sub-section (1) or (2) and having an area of ​​operation in two or more local levels or provinces shall be carried out by the local level or province where the central office of such organisation is located.

5) Notwithstanding anything contained in Sub-section (1) or (2), if the concerned local level or province requests that the Department regulate, monitor, and supervise any cooperative organisation on the basis of risk, the Department may regulate, monitor, and supervise such organisation.

6) In addition to sub-section (1), (2), (3), (4) or (5), the Nepal Rastra Bank shall also regulate, inspect and supervise such organisations on the basis of financial governance and risk of a cooperative organisation having a share capital of more than fifty million rupees or having an annual turnover equal to that amount, upon the request of the Department.

7) Notwithstanding anything contained elsewhere in this Act, the Department may regulate, monitor, and supervise any cooperative organisation in the event of a complaint or grievance regarding non-compliance with this Act and the regulations, procedures, guidelines, directions, or instructions made under this Act.

8) The Department may have such organisations regulated, monitored and supervised by a committee consisting of representatives of the specified bodies and subject matter experts according to the nature of the work of the cooperative organisation.

^{1 Amended by the Act to Amend Certain Acts Relating to the Prevention of Money Laundering and Promotion of Business Environment, 2080.}