Section 151: Standards, Directives or Procedures may be framed and submit

1) The Ministry may, subject to this Act and Rules framed under this Act, frame standards, directives, or procedures as may be necessary for maintaining order and effective functions such as registration, operation, inspection, and monitoring of the cooperative organisation.

¹1A) Nepal Rastra Bank shall formulate and issue standards regarding the regulation, inspection and supervision of cooperative organisations engaged in the main business of savings and loans.

2) While making the standards pursuant to sub-Section (1), separate standards may be made for Organisations and Associations carrying out savings and credits as the main transactions based on internationally recognised standards adopted for the security of members’ savings and institutional sustainability.

3) While framing the standards pursuant to sub-Sections (1) and (2), advice of the Nepal Rastra Bank or other concerned agencies may be sought.

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