Section 9C: Restriction on Making or Receiving Payment

Except in accordance with the provisions specified by the Bank, no person residing in Nepal shall do or cause to be done any of the following acts directly or indirectly:

(a) To make payment of any kind in any manner to any person residing outside Nepal,

(b) To draw, accept or negotiate any negotiable instrument or promissory notes or accept any loans in such a manner as to create or transfer the right to receive payment in favour of any person residing outside Nepal,

(c) To make payment of any kind to any person by the order or on behalf of any person residing outside Nepal.