Section 68: Reserve Fund

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1) There shall be a reserve fund in a Cooperative organisation.

2) The fund referred to in sub-section (1) shall have the following amount:

(a) At least twenty-five percent of the net savings of a fiscal year,

(b) Capital grant amount provided by any organisation, association or agency,

(d) Amount received from any other sources.

3) The Amount of the fund referred to in sub-section (1) shall be indivisible.

Tagged:
cooperatives act
nepal law

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Section 1: Short Title and Commencement
Section 100: Regulation Fee
Section 22: Grounds for Removal of the Directors from Office
Section 31: Soliciting Proposals
Section 57: Social security scheme to be applicable
Section 61: Confidentiality to be maintained
Section 86A: Commercial Banks and Financial Institutions to Provide Information to the Bank
Section 174: Delegation of authority
Section 44: Construction Works May be Caused to be Carried Out by the Users Committee or Beneficiary Community
Section 23: Foreign citizen to obtain work permit to work in Nepal
Section 170: Implementing Guidelines and Procedures
Section 98: To Regulate, Inspect and Monitor
Section 152: Repeal and Saving
Section 11D: Power to Search Building or Place of Transaction
Section 162: Right to make complaint
Section 17: Provisions relating to labour to be applicable
Section 2: Definitions
Section 11A: Designation of Investigating Officer
Section 86: Appointment of Auditor of Insurer
Section 109: This Act to be Applicable
Section 101: Insurer Deemed to be Problematic
Section 39: Meeting General Meeting
Section 52: Power to Issue Banknotes and Coins
Section 6: Formation of the Board
Section 123: Settlement of Insurance Claim
Section 19B: Power to request details
Section 32: Opening of proposals
Section 124: Punishment
Section 45: Maternity leave
Section 76: To stop work in the case of immediate danger
Section 152: Majority decision to prevail
Section 20: Qualifications of the Directors
Section 4: Establishment of An Electronic Platform
Section 1: Short Title, Extension and Commencement
Section 36: Rejection of Proposal and Cancellation of Procurement Proceedings
Section 74: Power to Make Rules
Section 9A: To Receive Payment of Value of Exported Goods
Section 88B: Provision Relating to the Formation of the Special Administration
Section 139: Security of employment
Section 8: Electronic Commerce Payments
Section 114: Insurer May Merge or be Amalgamated
Section 69: Procurement Transaction May be Carried Out Through Electronic Communications Means
Section 122: Arbitral award and collective agreement to be binding
Section 106: Functions, duties and powers of Management Committee
Section 116: Collective claim may be submitted
Section 59: Technical or Management Service Agreement
Section 132: Details to be Provided
Section 43: Functions, duties and powers of Board
Section 77: Direction to stop the work
Section 5: Function, Duties and Powers of the Bank
Section 21: Disqualification of the Directors
Section 34: Termination of membership
Section 21: Claim or Complaint Not to Lie
Section 110: To be deputed as representative
Section 11: Process and Stage of Bidding
Section 7: Deemed to be a Contract
Section 90: Provisions concerning Liquidation
Section 3: To remain as minimum standards
Section 9: Relation between the Government of Nepal and the Bank
Section 49: Functions, duties and powers of Accounts Supervision Committee
Section 34: Cancellation of License
Section 22: Provisions relating to Delivery of Notice
Section 61: Reproduction and Counterfeiting of Currency
Section 31: Application to be submitted to acquire membership
Section 25: Language of the contract
Section 166: Issue Orders and Directives
Section 70: The Insurance Appraisal
Section 11I: To Give Receipt
Section 75: Micro Insurance is Required
Section 89: Fiscal Year
Section 143: Settlement of Disputes
Section 58: Functions, Duties and Power of Chief Executive
Foreign Exchange (Regulation) Act 2019
Section 38: Functions, Duties and Powers of Annual General Meeting
Section 6: Procurement Plan to be Prepared
Section 45: Prospectus and Issue of Shares
Section 20: Not to restrain from working elsewhere
Section 4: Formation of District Sectoral Cooperative Association
Section 105A: State Government may constitute a State Labour Advisory Council
Section 8: Formation of Central Sectoral Cooperative Association
Section 130: Insurance Mediation
Chapter-2 Establishment of Authority and Its Functions, Duties and Power
Section 85: Exchange of Mutual Cooperation
Section 128: Complaint Relating to Payment of Claim
Section 123: Special provisions relating to the submission of collective claims, demands
Section 9: Tenure of Chairperson and Members
Section 14: Formation of the Board
Section 62: Liquid Assets to be maintained
Section 139: Financial Assistance to be provided
Section 79: Regulatory Powers of the Bank
Section 99: Fine for Violation of the Bank’s Regulation
Section 10C: Provisions Relating to Repatriation, Investment of, and Transfer of Right in Foreign Exchange
Section 68: International Clearing and Payment Agreements
Section 171: Special provisions relating to managers and managerial level labours
Section 44: Directors not to continue to hold the office
Section 118: Terms and conditions of services of chairperson and members of Management Committee
Section 109: Transfer may be made
Section 86B: Commercial Bank and Financial Institution Deemed to be Problematic
Section 70: Duties of employer towards non-labour
Section 41: Board of Directors
Section 149: Power to frame Rules
Section 112: Notice to be given for submission of liabilities
Section 84: To be sent for freezing
Section 82: Credits Recovery Tribunal
Section 129: Complaint Regarding Loss or Damage
Section 161: Contact with the Government of Nepal
Section 147: Authority to Hear Case and Execution of The Decision
Section 120: Expert Service may be sought
Section 66: Provision Concerning Procurement to be Made in Special Circumstances
Section 152: Complaint Hearing
Schedule
Section 9: Procurement to be Made by Inviting Open Bid
Section 170: Fixation of basic remuneration
Section 52: Contribution for provident fund
Section 84: Inspection and Supervision
Section 172: Repeal and Saving
Section 41: Allocation of net profit
Section 50: Method of Review
Section 37: Entitlement to festival expense
Section 101: Procedures for Pecuniary Penalty and Punishment
Section 38: Procurement Contract to be Concluded
Place and date of commencement of the remaining Sections of the Foreign Exchange (Regulation) Act, 2019
Section 96: Investigation may be conducted
Section 124: Right to lock-outs
Section 107: No Responsibility for Acts Done in Good Faith
Section 22: Fines to be Imposed
Section 143: Special Provision Related with The Insured
Preamble
Section 144: Notice to be given
Section 44: Allotment of Shares
Section 16: Trainees may be engaged in work
Section 48: Review Committee
Section 88: Establishment of Credit Information Centre
Section 35: May Grant Exemptions, Facilities, or Concessions
Section 60: Currency Recall or Withdrawal
Section 3: Establishment of the Bank
Section 19: Part-time employment
Section 27: Acceptance of Bid and Procurement Contract
Section 21: Action not be initiated on the ground of breach of secrecy
Section 35: Function, Duties and Powers of the Audit Committee
Section 12: Formation of Cooperative Bank
Section 16: Seller’s Liability
Section 90: Account System
Section 83: Direction may be issued
Section 88N: Exchange of Reciprocal Assistance
Section 88E: Notice and Registration of the Work Relating to Resolution
Section 32: Power to Give Directions
Section 43: Home leave
Section 113: Insurance Business May Be Transferred
Section 45: Directors may be removed from Office
Section 6: Power of Government of Nepal to Obtain Foreign Exchange
Section 54: Variation Order
Section 22: Audit
Section 148: No Hindrance to take actions according to prevailing laws
Section 86D: Effect of the Control of the Bank on any Commercial Bank or Financial Institution
Section 168: Power to impose punishment in the event of non-execution of judgment, compromise or agreement
Section 60: Submission of details by licensee
Section 155: Insurance Information Centre
Section 86H: Decreasing the Capital of Problematic Commercial Bank or Financial Institution
Section 125: Picketing or assembly may be made
Section 4A: Provisions Relating to Foreign Exchange Obtained by Citizens of Nepal
Section 175: Saving of acts done in good faith
Section 28: To be governed as per the prevailing laws
Section169: Enact and Enforce Regulations
Section 6: Prohibition on discrimination
Section 95: Inspection and Checking of Accounts
Section 18: Inquiry and Institution of Case
Section 119: Power of The Authority to Initiate the liquidation Process
Section 7: Duty of Persons Who Have Source to Obtain Foreign Exchange
Section 2: Definitions
Section 136: Suspension of License or Ban of Insurance Business
Section 29: Coordination Required
Section 36: Entitlement to annual increment in remuneration (grade)
Section 7: Formation of Provincial Cooperative Association
Section 88: Dissolution and Revocation of Registration
Section 69: Activities restricted to be carried on by Insurance Company
Section 97: Prohibition to act
Section 76: Saving
Section 56: Provision Concerning Extension of Contract Period
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