Chapter-14 Miscellaneous

Section 113: Recovery from or confiscation of deposits

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If any business or transaction is carried on by pledging as collateral or security the amount deposited with a bank or financial institution, or if amounts are deposited with a bank or financial institution with misappropriated funds belonging to the governmental body or anybody owned by the Government of Nepal, or with funds obtained by committing any act which is deemed to be an offense under the prevailing laws, or with funds collected through any activity relating to terrorism or organized crime or banking or financial offence or organized crime, such deposits may be confiscated or such collateral or security or misappropriated or other funds may be recovered from such deposits or such deposit may be confiscated in accordance with the prevailing laws.

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Section 113: Recovery from or confiscation of deposits

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