Section 23A: Standards to be Followed

¹1) Notwithstanding anything contained elsewhere in this Act, the body responsible for regulating, inspecting and supervising a cooperative organisation engaged in the main business of savings and loans shall comply with the instructions and standards issued by Nepal Rastra Bank in this regard.

2) If a cooperative organisation, as referred to in Sub-section (1) in existence at the time of the commencement of this Section, has not established the standards determined by Nepal Rastra Bank, it shall establish such standards within two years from the date of commencement of this Section.

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