Section 89: Recommending Action

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The Nepal Insurance Authority shall write to the concerned regulating authority to remove the name of an auditor who does not perform his/her duties as per this Act, from the panel of the auditors to prohibit him/her to carry out audit of any insurance company for one year to three years.

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insurance act
nepal law

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Section 62: Revocation, suspension of license or fine
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Section 71: Deposit Collection
Section 111: Authority to be suspended ipso facto
Section 57: Appointment of the Executive Director
Section 120: Appointment of a Liquidator
Section 102: Filing Appeals
Section 105: Trust Accounts
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Section 57: Payment of Bill or Invoice
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Section 94: Report on Monetary Policy
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Section 44: Sick leave
Section 81: Credit to Prescribed Sectors
Section 23: Constitution, Functions and Duties of Inquiry Committee
Section 57: Social security scheme to be applicable
Section 97: To render necessary assistance
Section 55: Delegation of Powers
Section 141: Employment may be terminated voluntarily
Section 13: Prohibition on Entering into Contract in Contravention of the Objective of This Act
Section 6: Not to obtain or make payment by way of abuse or unauthorised use of electronic means
Section 28: Application to be made
Section 11I: To Give Receipt
Section 94: Delegation of Authority
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Section 103: Stabilisation Fund
Section 88C: Function, Duty and Power of Special Administration Team
Section 21: Transaction, Business, Industries, or Project may be operated
Section 30: Provisions relating to overtime
Section 32: Opening of proposals
Section 60: Public Notice of Procurement Contract
Section 18A: Filing of Case
Section 170: Implementing Guidelines and Procedures
Section 93: Provisions relating to Office and inspectors
Section 47: Failure to Maintain Compulsory Deposit
Section 105: Provisions relating to meetings of the Council
Section 25: Evaluation of Bids
Section 107: Inventory to be prepared
Section 23: Audit Committee
Section 59: Account of Issued Currency
Section 65: Functions, Duties and Powers of Public Procurement Monitoring Office
Section 131: Misconduct and punishment
Section 79: To give information
Section 134: Power to suspend
Section 143: Settlement of Disputes
Section 31: Refusal for Prior Approval and License
Section 145: Limitation for Complaint
Section 137: Revocation (Cancellation) of License of the Insurer
Section 50: Discount Rate and Rate of Interest for Refinance
Section 42: Substitute leave
Section 16: Permission of the Bank to be Obtained to Open an Account
Section 24: Work permit may be issued
Section 57: Soiled or Counterfeit Currency
Section 37: Entitlement to festival expense
Section 123: Saving of actions taken in good faith
Section 133: Annual Report Submit
Section 33: Management Committee
Section 35: Function, Duties and Powers of the Audit Committee
Section 13: Operation of Accounts
Section 21: Provisions relating to social security
Section 48: Mourning leave
Section 24: Resignation by Director
Section 117: To hold negotiations on collective claims, demands
Section 5: Formation of District Cooperative Association
Section 122: Arbitral award and collective agreement to be binding
Section 86I: Right to Appeal Against the Order of the Bank
Section 30: Functions, Duties and Powers of the Governor
Section 17: Cooperative Organisation to be a Corporate Entity
Section 77: Restriction on Rate of Interest
Section 59: Nepal Rastra Bank may take over Management
Section 8: Electronic Commerce Payments
Section 39: Compulsory Reserve Fund
Section 8: Privileges and Facilities to the Bank
Section 121: Right to strike for settlement of collective disputes
Section 55: Accidental insurance to be made
Section 14: Continuity of existence of the employment relationship despite change in ownership
Section 21: Bid Security
Section 14: Formation of the Board
Section 6: Formation of the Board
Section 169: Procedure relating to service of notice
Section 97: Prohibition to act
Section 8: Qualification and Disqualification of Chairperson and Member
Section 40: Directives may be given to call an Extraordinary General Meeting
Section 63: Blocklisting and Exclusion from the Blocklist
Section 33: Arrangement for transportation to be made
Section 112: Final Report to be Submitted
Section 48: Formation of Accounts Supervision Committee
Section 14: Obligations of the Intermediary Practitioner
Section 9: Transfer of Goods or Services
Section 24: Investigation and Filing of Cases
Section 10A: Regulation of Investment Abroad
Section 159: Submission of Report to Government of Nepal
Section 176: Special powers of the Ministry
Section 102: Measures For the Reformation of Problematic Insurer
Section 9C: Restriction on Making or Receiving Payment
Section 137: Social Audits may cause to be conducted
Section 86C: Bank to Take Action Against Problematic Commercial Bank or Financial Institution
Section 79: Regulatory Powers of the Bank
Section 40: Computation of net profit and loss
Section 34: Audit Committee
Section 81: Re-Insurance Business
Section 1: Short Title, Commencement, and Extension
Section 66: Security of Government of Nepal may be obtained
Section 86: No hindrance to take actions
Section 6: Prohibition on discrimination
Section 22: Fines to be Imposed
Section 23A: Standards to be Followed
Section 52: Procurement Contract and Terms and Conditions Thereof
Section 70: The Insurance Appraisal
Section 150: To issue the certificate of experience
Foreign Exchange (Regulation) Act 2019
Section 40: Weekly leave
Preamble
Section 159: To forward the matter to the body having jurisdiction
Section 27: Power to Refuse Prior Approval
Section 132: Prohibition of sexual harassment
Section 74: To form safety and health committee
Section 6: Procurement Plan to be Prepared
Section 64: Public Procurement Monitoring Office
Section 7: Formation of Provincial Cooperative Association
Section 36: No Impediment to Prosecuting Cases in Accordance with Prevailing Law
Section 106A: Not to Work in Commercial Bank or Financial Institution
Section 50: Transaction of Savings and Credits to be made concentrating on Member
Section 126: Employment contract not to be violated
Section 108: Provisions concerning Payment of Liabilities
Section 145: Departmental actions may be taken
Section 66: Foreign Exchange Reserve
Section 49: Qualifications of Directors
Section 10: Not to acquire assets or open account by borrower who has over dues
Section 74A: May Formulate Technical Guidance, Procedures and Directives
Section 164: Decision may be made by the Labour Court
Section 28: Right to File a Complaint
Preamble
Section 5: Restriction on Export and Import of Certain Currency and Bullion
Section 27: Remuneration, conditions of service, benefits of and other provisions relating to foreign labours
Section 7: Functions not to be Carried out by the Bank
Section 10: Restriction on Export and Transmission of Securities
Section 181: To frame and implement directives and procedures
Section 24: Issuance of order for creating encumbrances over the assets of a foreign individual
Section 41: Public leave
Section 111: Formation of labour relation committee
Section 109: Provisions to be made in Case improvement Not Achieved in the Condition of the Insurer
Section 75: Repeal and Amendment
Section 180: This Act not to apply
Section 93: Responsibilities of Insurance Intermediaries
Section 133: Provisions relating to misconduct may be made in the bye-law
Section 148: Request for Details
Section 93: Functions, duties and powers
Section 35: May Grant Exemptions, Facilities, or Concessions
Section 88F: New Balance Sheet to be Prepared
Section 32: Power to Give Directions
Section 136: Exercise of Voting Right
Section 149: Labours to get first priority
Section 126: To freeze transactions, accounts and assets
Section 48: Discount Operation
Section 5: Registration Required
Section 16: Seller’s Liability
Section 65: Loans or Grants may be obtained
Section 20: No Exemption from Liability
Section 24: Restriction on Insurance Business without license
Section 107: Minimum remuneration fixation committee
Section 170: Fixation of basic remuneration
Section 154: Proceeding against contempt of court
Section 107: No Responsibility for Acts Done in Good Faith
Section 64: Particulars of Foreign Exchange Transactions
Section 26: Summary Procedure to be Adopted
Section 18: Working Area of Cooperative Organisation
Section 46: Compulsory Deposit of Commercial Banks and Financial Institutions
Section 1: Short Title, Extension and Commencement
Section 2: Definitions
Section 46: Birth registration certificate to be submitted
Section 22: Audit
Section 83: Direction may be issued
Section 15: Continuity of existence of employment relationship during the period held in reserve
Section 18B: Certification of Copy of Document Related to Foreign Exchange
Section 70: Consultation and Information Relating to External Debt
Section 130: Government of Nepal to be a plaintiff
Section 37: May order capital reduction
Section 138: Fineable
Section 81: Credit Information Centre
Section 132: Statutory Limitation to file a complaint
Section 5A: Approval to be Made
Section 154: Formation of Expert Groups
Section 22: Grounds for Removal of the Directors from Office
Section 12A: Not to make any Fraudulent Activities to Bank and Financial Institutions and Cooperatives
Section 95: Inspection and Checking of Accounts
Section 118: Terms and conditions of services of chairperson and members of Management Committee
Section 101: Making application in convenient Office
Section 11B: To Search for Suspicious Person
Section 74: Obtained Approval While Selling Assets
Section 87: Special provisions relating to tourism labours
Section 129: Collective bargaining or agreement to be made in good faith
Section 130: Observance of discipline and duties
Section 103: Special Administration/Management Team
Section 38: Measures to Implement the Act
Section 74: Consultation on the Matter of Law Reform
Section 87: Establishment of Information Network
Section 12: Formation of Cooperative Bank
Nepal Rastra Bank Act, 2058
Section 84: To be sent for freezing
Section 5: Function, Duties and Powers of the Bank
Section 11: Not to stop credit facility in the way to loss working project of borrower
Section 112: Notice to be given for submission of liabilities
Section 50: Method of Review
Section 23: Examination of Bids
Section 100: Regulation Fee
Section 112: Repeal and Saving
Section 4:
Section 106: Notice of the Work
Section 13: Prohibition of Sale and Distribution
Section 47: Dissolution of Board
Section 60: Submission of details by licensee
Section 72: Records of Procurement Proceedings
Section 37: Negotiations with the Proponent
Section 55: Issuance of Currency and Security
Section 55: Prohibition on Disbursing Credit
Section 16: Meeting of the Board
Section 88H: Bridge Institution or Unit May be Established
Section 4A: Provisions Relating to Foreign Exchange Obtained by Citizens of Nepal
Section 33: Evaluation of Technical Proposal
Section 51: Procurement Proceeding to be Withheld
Preamble
Section 2: Definitions
Section 51: Reference interest rate may be determined
Section 63: Management of Foreign Exchange
Section 115: The Authority may give directions to merge or to be amalgamated
Section 43: Restriction on Distribution of Dividend
Bonus Act 2030
Section 173: Increment of insurance amount
Section 80: Reinsurance Required
Section 101: Procedures for Pecuniary Penalty and Punishment
Section 87: Audit of Insurer
Section 151: Standards, Directives or Procedures may be framed and submit
Section 134: Power of The Authority
Section 12: Not to Make Loss by Making Alteration in Account or Ledger or by Committing Forgery or Fraud
Section 109: Authority may be delegated
Section 42: Election of Board
Section 14: Inspection
Section 11: Oath to be taken
Section 13: Provision relating to probation period
Section 36: Paid Up Capital of the Insurer
Section 127: Remuneration for strike or lock-out period
Section 9: Right to remedy
Section 88D: Power to be Automatically Suspended During the Period of Resolution
Section 152: Complaint Hearing
Section 113: Insurance Business May Be Transferred
Section 17: Punishment
Section 144: Notice to be given
Section 12: Employment relationship to be established
Section 14: Not to Carry Out and Cause to Carry Out Irregular Economic and Financial Transactions
Section 7: Deemed to be a Contract
Section 67: Procurement process under this Act not to be applied
Preamble
Section 135: Opportunity to be given to submit clarification
Section 56: Management of Insurance Company
Section 100: Labour audit to be made
Section 162: Right to make complaint
Section 18: Tenure of Office of the Director
Section 26: Rejection of Bids or Cancellation of Procurement Proceedings
Section 7: Duty of Persons Who Have Source to Obtain Foreign Exchange
Section 106C: Government of Nepal May Give Directives
Section 122: Offences deemed to be committed
Section 171: Special provisions relating to managers and managerial level labours
Section 137: Period for taking decision
Section 19: Prohibition of Engaging in Improper Commercial or Business Activities
Section 1: Short title and commencement
Section 29: Granting License
Section 149: No Obstruction for Punishment
Section 142: Don’t work in the Insurance Business
Section 86: Appointment of Auditor of Insurer
Section 31: Application to be submitted to acquire membership
Section 43: Home leave
Section 105: Formation of Management Committee
Section 88I: Sequence of Priority of Payment
Section 69: Secured Capital Redemption Fund
Section 18: Government to be the plaintiff
Section 100: Annual Report to be submitted
Section 23: Foreign citizen to obtain work permit to work in Nepal
Section 58: Provisions Relating to Currency Inventory and Issuance of Currency
Section 4: Formation of District Sectoral Cooperative Association
Section 72: Accepting risk based on the property itself
Section 3B: Other Provisions Relating to Foreign Exchange Transactions
Section 115: Management Committee may write to take action
Section 88M: Final Description of the Work Relating to Resolution to be Submitted
Section 54: Medical insurance to be made
Section 44: Monetary Policy
Section 129: To refer for investigation
Section 102: Mutual Security Services may be conducted
Section 20: Fund of the Insurance Authority
Section 86G: Can be Subject of Resolution
Section 174: Delegation of authority
Section 96: Obligations of inspector or employee
Section 62: Insurance Contract
Section 113: Submission of individual claims
Section 27: Bylaws to be framed
Section 144: Encouragement may be given
Section 128: Nepal Rastra Bank may punish
Section 2: Definitions
Section 20: Validity Period of Bid
Section 1: Short Title and Commencement
Section 111: Guidelines to be Framed and Implemented
Section 121: Provisions concerning Employees of Management Committee
Section 56: Provision Concerning Extension of Contract Period
Section 148: No Hindrance to take actions according to prevailing laws
Section 138: Punishment may be remitted
Section 1: Short Title, Extension and Commencement
Section 46: Restriction on sold, mortgaged, or transferred
Section 109: This Act to be Applicable
Section 152: Repeal and Saving
Section 80: Banking and Financial System and Credit Control
Section 84: Provisions relating to tea-estate labours
Section 24: Existing Licenses
Section 67: Prohibition on collecting fee from labour
Section 16: Trainees may be engaged in work
Section 66: Provision Concerning Procurement to be Made in Special Circumstances
Section 104: Functions, Duties and Powers of Special Administration Team
Section75: Saving from action
Section 38: Procurement Contract to be Concluded
Section 110: Power to Frame Rules and Bylaws
Section 125: Picketing or assembly may be made
Section 71: Provisions concerning Other Funds
Section 29: Amendment to Bylaws and Internal Procedures
Section 110: To be deputed as representative
Section 146: Recovery to be made as government due
Section 117: Report to be submitted
Section 49: Functions, duties and powers of Accounts Supervision Committee
Section 98: Bank to Provide Information
Section 42: Allocation of net loss
Section 99: Foreign Insurance Company shall inform to the Authority
Section 22: Restriction on employment of foreigners
Section 15: Responsibilities of Traders Carrying Out E-Commerce Based on the List
Section 23: Punishment
Section 155: Power to demand bank guarantee or deposit
Section 81: To engage in easier work
Section 53: To receive gratuity
Section 19: Working Area of Association and Cooperative Bank
Section 52: Limit of Personal Saving
Section 12: Pre-Qualification to be Determined
Section 10C: Provisions Relating to Repatriation, Investment of, and Transfer of Right in Foreign Exchange
Section 147: Authority to Hear Case and Execution of The Decision
Section 17: Buyer’s Obligations
Section 86: Provisions relating to transport labours
Section 90: Provisions concerning Liquidation
Schedule
Section 118: Conditions Relating to Liquidation of Insurer
Section 52: Contribution for provident fund
Section 153: Powers of Labour Court
Section 125: Settlement of Small Amount Claim
Section 61: Obligations of labour supplier
Section 163: International Aid and Relation
Section 35: Payment of remuneration
Section 82: Credits Recovery Tribunal
Section 131: Operation and Management of Insurance in Province
Section 49: Loan and Refinance to Commercial Banks and Financial Institutions
Section 44: Construction Works May be Caused to be Carried Out by the Users Committee or Beneficiary Community
Section 29: Functions, Duties and Powers of the Board
Section 22: Power to Frame Rules
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