Section 124: Payment of Re-insurance Claim

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1) The insurer performing re-insurance shall pay the amount in lieu of re-insurance claim on the basis of re-insurance contract made between the insurer performing insurance business and the insurer performing re-insurance business.

2) Settlement of re-insurance claim and other provisions relating to it shall be as prescribed.

Tagged:
insurance act
nepal law

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Section 51: Discontinue to hold the office of Director
Section 36: General Meeting
Section 78: License to be Obtained from Bank
Section 127: Person Entitled to Get Payment
Preamble
Section 159: Submission of Report to Government of Nepal
Section 16: Seller’s Liability
Section 90: Account System
Section 80: Provisions concerning Blacklist
Section 61: Obligations of labour supplier
Section 2: Definitions
Section 8: Qualification and Disqualification of Chairperson and Member
Section 13: Not to Derive Excess, Low or False Valuation or Prepare False Financials
Section 112: Notice to be given for submission of liabilities
Section 95: Inspection and Checking of Accounts
Section 82: Provisions related to re-insurance contracts
Section 16: Registration may be Denied
Section 111: Other Provisions Regarding Special Management of The Insurer
Section 111: Guidelines to be Framed and Implemented
Section 166: Decisions to be executed
Section 100: Regulation Fee
Section 97: Prohibition to act
Section 28: Application to be made
Section 136: Suspension of License or Ban of Insurance Business
Section 86D: Effect of the Control of the Bank on any Commercial Bank or Financial Institution
Section 103: ………………….
Section 10: Restriction on Export and Transmission of Securities
Section 58: Mechanism for Dispute Settlement
Section 137: Social Audits may cause to be conducted
Section 30: Provisions relating to overtime
Section 40: Catastrophic Fund
Electronic Commerce (E-Commerce) Act 2081
Section 143: Settlement of Disputes
Section 58: Books and Accounts
Section 152: Complaint Hearing
Section 142: Employment may be terminated on the ground of incompetence
Section 69: Secured Capital Redemption Fund
Section 168: Power to impose punishment in the event of non-execution of judgment, compromise or agreement
Section 29: Consultancy Services May be Procured
Section 14: Application to be Submitted for Registration
Section 102: Measures For the Reformation of Problematic Insurer
Section 77: Ineligibility for Appointing Auditor
Section 131: Operation and Management of Insurance in Province
Section 98: Ministry to conduct Inspection and Monitoring
Section 29: Regulation may be framed
Section 59: Nepal Rastra Bank may take over Management
Section 2: Definitions
Section 30: Short List to be Prepared by Soliciting Expression of Interest Openly
Section 12: Not to Make Loss by Making Alteration in Account or Ledger or by Committing Forgery or Fraud
Section 36: No Impediment to Prosecuting Cases in Accordance with Prevailing Law
Section 20: Classification may be made on Sectoral Basis
Section 5: Prohibition on employment of children
Section 155: Insurance Information Centre
Section 25: Language of the contract
Section 114: Application may be made to the Office
Section 45: Prospectus and Issue of Shares
Section 57: Social security scheme to be applicable
Section 100: Annual Report to be submitted
Section 29: Not to compel to work overtime
Section 167: Power of the Office to have execution of decisions
Section 119: Settlement of dispute through arbitration
Section 28: Internal Procedures may be framed
Section 15: To be Registered
Section 12A: Not to make any Fraudulent Activities to Bank and Financial Institutions and Cooperatives
Section 69: Banker, Advisor and Financial Agent
Section 9A: To Receive Payment of Value of Exported Goods
Section 15: Appointment of the Governor
Section 86: Provisions relating to transport labours
Section 88K: Actions Prior to the Commencement of the Action Relating to Resolution to be Inactive
Section 72: Duties of manufacturers, importers and suppliers
Section 37: Negotiations with the Proponent
Section 86: Appointment of Auditor of Insurer
Section 19B: Power to request details
Section 29: Functions, Duties and Powers of the Board
Section 8: Right relating to trade union
Section 56: No Distribution of Dividend
Section 116: Collective claim may be submitted
Section 86G: Can be Subject of Resolution
Section 24: Existing Licenses
Section 25: Government of Nepal to be the plaintiff
Section 107: Preparation of New Financial Statements
Section 23: Notice to be published
Section 93: Submission of Report to Government of Nepal
Section 106C: Government of Nepal May Give Directives
Section 24: Resignation by Director
Section 55: Price Adjustment in Procurement Contract
Section 5: Not to make unauthorised withdrawals or payments
Section 11A: Designation of Investigating Officer
Section 125: Settlement of Small Amount Claim
Section 21: Transaction, Business, Industries, or Project may be operated
Section 43: Restriction on Distribution of Dividend
Section 126: Apparent loss or damage
Section 62: Insurance Contract
Section 140: Inter-government transactions may be carried out
Section 144: Encouragement may be given
Section 94: Renewal of License of Insurance Intermediaries
Section 13: Provision relating to probation period
Section 115: The Authority may give directions to merge or to be amalgamated
Section 18: Working Area of Cooperative Organisation
Section 96: Investigation may be conducted
Section 3: Procurement to be Made as Per This Act
Section 150: Insured Insurance Protections Fund
Section 66: Foreign Exchange Reserve
Section 95: Powers, functions and duties of inspector
Section 32: Restriction on membership
Section 93: Functions, duties and powers
Section 153: Powers of Labour Court
Section 160: Delegation of Authority
Section 6: Disclosure of Details
Section 138: Punishment may be remitted
Section 131: Misconduct and punishment
Section 133: Annual Report Submit
Section 9: Transfer of Goods or Services
Section 50: Method of Review
Section 65: To make inspection, supervision and monitoring
Section 1: Short title and commencement
Section 20: Validity Period of Bid
Section 22: Liabilities to be limited
Section 21: Action not be initiated on the ground of breach of secrecy
Section 2: Definitions
Section 10: Coordination with Public Bodies
Section 1: Short Title, Commencement, and Extension
Section 52: Contribution for provident fund
Section 86H: Decreasing the Capital of Problematic Commercial Bank or Financial Institution
Section 124: Right to lock-outs
Section 130: Government of Nepal to be a plaintiff
Section 122: Arbitral award and collective agreement to be binding
Section 18A: Filing of Case
Section 52: Limit of Personal Saving
Schedule
Section 11D: Power to Search Building or Place of Transaction
Section 68: Formulation of safety and health Policy
Section 28: Meeting of the Board
Section 12: Employment relationship to be established
Section 8: Not to misuse credit
Section 133: Appeal may be filed
Section 133: Provisions relating to misconduct may be made in the bye-law
Section 27: Bylaws to be framed
Section 91: Annual Report
Section 4: Procedure for Carrying on Foreign Exchange Transactions
Section 98: To Regulate, Inspect and Monitor
Section 164: Decision may be made by the Labour Court
Section 39: Compulsory Reserve Fund
Section 76: Bank’s Approval Required for Accepting Deposits or Giving Credits
Section 149: Power to frame Rules
Section 4: Objectives of the Bank
Section 60: Currency Recall or Withdrawal
Section 106B: Expert Service to be Provided
Section 110: Recommendation for Improving Financial Condition of the Insurer
Section 10A: Regulation of Investment Abroad
Section 1: Short Title, Extension and Commencement
Section 5: Cost Estimate to be Prepared
Section 47: Application May be Filed Before the Chief of Public Entity
Section 84: Provisions relating to tea-estate labours
Section 152: Repeal and Saving
Section 23: Values, norms and principles of cooperative to be complied with
Section 126: To freeze transactions, accounts and assets
Section 49: Loan and Refinance to Commercial Banks and Financial Institutions
Section 113: Audit Report to be prepared
Section 116: Insurer Many Acquire Another Insurer
Section 35: Facilities not to be entitled to
Section 90: Provisions relating to enterprise which is incorporated in foreign country and operates business in Nepal
Section 31: Application to be submitted to acquire membership
Section 4: Formation of District Sectoral Cooperative Association
Section 80: Arrangements for control of infectious diseases to be made
Section 87: Audit of Insurer
Section 58: Functions, Duties and Power of Chief Executive
Section 7: Not to avail or provide loans in an unauthorised manner
Section 120: Power to form labour arbitration tribunal
Section 182: Powers to frame rules
Section 160: Procedures of the cases
Section 40: Computation of net profit and loss
Section 16: Trainees may be engaged in work
Section 11: Power to Demand Statements
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Section 124: Payment of Re-insurance Claim

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