Section 1: Short Title, Extension and Commencement

1) This Act may be called as the “Foreign Exchange (Regulation) Act, 2019 (1962).”

2) It shall extend to throughout Nepal and also apply to all citizens of Nepal who reside outside of Nepal, and all firms, companies, bodies and branches and agencies of such firms, companies or bodies which have been registered in Nepal and operating in any place outside of Nepal.

3) This Section shall commence forthwith, and the other Section shall commence on such date in such areas as may be specified by the Government of Nepal from time to time, by a Notification in the Nepal Gazette.