Section 150: Insured Insurance Protections Fund

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1) There shall be one Insured Interest Protection Fund formed under the Authority.

2) The following amounts shall be credited to the Fund:

(a) The amount earmarked by the Authority for this purpose,

(b) The amount received from the insurer operating life insurance business as prescribed by the Authority,

(c) The amount deposited in unclaimed fund as per Section 125 which was to be paid under life insurance policy but could not be paid for any reason.

3) Other provisions concerning following the fund shall be as prescribed.

Tagged:
insurance act
nepal law

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Section 44: Directors not to continue to hold the office
Preamble
Section 35: List to be Published
Section 25: Adjudication proceedings and disposal of the case not be affected
Section 163: Power of the Department or Office to decide
Section 21: Bid Security
Section 37: Negotiations with the Proponent
Section 88I: Sequence of Priority of Payment
Section 100: Regulation Fee
Section 170: Implementing Guidelines and Procedures
Section 18B: Certification of Copy of Document Related to Foreign Exchange
Section 57: Appointment of the Executive Director
Section 74: Power to Make Rules
Section 23A: Standards to be Followed
Section 125: Picketing or assembly may be made
Section 24: Resignation by Director
Section 60: Submission of details by licensee
Section 137: Revocation (Cancellation) of License of the Insurer
Section 5A: Approval to be Made
Section 42: Allocation of net loss
Section 41: Board of Directors
Section 3B: Other Provisions Relating to Foreign Exchange Transactions
Section 78: Claim of Micro-Insurance
Section 21: Transaction, Business, Industries, or Project may be operated
Section 85: Preference to be accorded
Section 84: Preparation of Financial Statements
Section 128: Prohibition on filing of case against loss
Section 11: Prohibition on employment without entering into employment contract
Section 145: Limitation for Complaint
Section 16: Trainees may be engaged in work
Section 42: Substitute leave
Section 134: Power of The Authority
Section 19: Proceedings may be initiated by detaining into the custody
Section 56: Provisions on Exchange of Currency
Section 66: Provision Concerning Procurement to be Made in Special Circumstances
Section 25: Public Notification of Governor’s Appointment
Section 41: Claim Payable Fund and Reserve Fund
Section 18: Inquiry and Institution of Case
Section 5: Restriction on Export and Import of Certain Currency and Bullion
Section 161: Contact with the Government of Nepal
Section 153: Not to Make Insurance Transactions with Anyone Except Insurer
Section 46: Birth registration certificate to be submitted
Section 106C: Government of Nepal May Give Directives
Section 94: Renewal of License of Insurance Intermediaries
Section 5: Function, Duties and Powers of the Bank
Section 136: Authority imposing punishment
Section 142: Contract not to be concluded
Section 60: Currency Recall or Withdrawal
Section 4A: Provisions Relating to Foreign Exchange Obtained by Citizens of Nepal
Section 1: Short Title and Commencement
Section 62: Revocation, suspension of license or fine
Section 132: Prohibition of sexual harassment
Section 46: Not to be involved in the decision-making process having conflict of personal interest
Section 98: Bank to Provide Information
Section 71: Allocation of Savings
Section 91: To observe fair labour practice
Section 149: Power to frame Rules
Section 32: Fixation of working hours
Section 45: Maternity leave
Section 3: Procurement to be Made as Per This Act
Section 18: Method of Submission of Bids
Section 2: Definition
Section 33: Management Committee
Section 20: Classification may be made on Sectoral Basis
Section 97: Prohibition to act
Section 167: Power of the Office to have execution of decisions
Section 2: Definitions
Section 67A: Procurement Proceedings Should Not Be Obstructed
Section 139: Procedures of Taking Actions
Section 10B: Provisions Relating to Lending and Borrowing of Loans in Foreign Exchange
Section 53: Functions, Duties and Powers of the Board
Section 79: To give information
Section 15: International Level Bidding
Section 30: Membership of Organisation
Section 73: Investment in Subsidiary Company
Section 101: Making application in convenient Office
Section 54: Measurement, Weights and Size of Coins
Section 147: Compulsory retirement
Section 12: Vacancy in the office of Chairperson or Member
Section 49: Qualifications of Directors
Section 39: Meeting General Meeting
Section 180: This Act not to apply
Section 152: Complaint Hearing
Section 72: Accepting risk based on the property itself
Section 28: Right to File a Complaint
Section 88: Provisions relating to domestic labours
Section 17: Buyer’s Obligations
Section 87: Establishment of Information Network
Section 88N: Exchange of Reciprocal Assistance
Section 55: Issuance of Currency and Security
Section 63: Payment of remuneration and other benefits
Section 98: To Regulate, Inspect and Monitor
Section 62: Conduct to Bidder or Proponent
Section 18: Engagement in work as trainee labour
Section 31: Additional remuneration to be paid
Section 99: Foreign Insurance Company shall inform to the Authority
Section 148: Request for Details
Section 60: Public Notice of Procurement Contract
Section 23: Notice to be published
Section 14: Invitation to Bids
Section 65: To make inspection, supervision and monitoring
Section 95: Acts Deemed to be Offences Under this Act
Section 17: Punishment
Section 121: Priorities on the Payment of Liabilities in Case of Liquidation of the Insurance company
Section 15: Appointment of the Governor
Section 79: Micro-Insurance Regulation Fees
Section 38: Functions, Duties and Powers of Annual General Meeting
Section 76: Bank’s Approval Required for Accepting Deposits or Giving Credits
Section 36: No Impediment to Prosecuting Cases in Accordance with Prevailing Law
Section 92: Qualifications of Insurance Mediators
Section 88: Dissolution and Revocation of Registration
Section 64: Obligations of the main employer
Section 93: Responsibilities of Insurance Intermediaries
Section 66: Insurance Not to Be Done
Section 84: Inspection and Supervision
Section 68: Reserve Fund
Section 182: Powers to frame rules
Section 93: Submission of Report to Government of Nepal
Section 71: Deposit Collection
Section 161: Appeal to the Supreme Court
Section 100: Labour audit to be made
Section 47: Formation of Board of Directors
Section 33: Evaluation of Technical Proposal
Section 38: Confidentiality
Section 7: Not to avail or provide loans in an unauthorised manner
Section 128: Complaint Relating to Payment of Claim
Section 108: Oath of Office
Section 21: Claim or Complaint Not to Lie
Section 22: Provisions relating to Delivery of Notice
Section 63: Management of Foreign Exchange
Section 113: Insurance Business May Be Transferred
Section 119: Cooperative may be sought
Section 41: Provision for Direct Procurement
Section 83: Dues to recover
Preamble
Section 86H: Decreasing the Capital of Problematic Commercial Bank or Financial Institution
Section 44: Allotment of Shares
Section 26: Waiver in the Claim of Punishment may be Happen
Section 107: Minimum remuneration fixation committee
Section 10: Qualification of Bidder or Proponent
Section 7: Responsibility Towards Procurement Activities
Section 29: Not to compel to work overtime
Section 170: Fixation of basic remuneration
Section 36: Employees of the Bank
Section 94: Delegation of Authority
Section 60: Able to create a whistleblowing policy
Section 45: Operation of Open Market Transaction
Section 3A: Power of Bank to Take Action
Section 7: Deemed to be a Contract
Section 130: Observance of discipline and duties
Section 103: Stabilisation Fund
Section 127: Person Entitled to Get Payment
Section 6: Prohibition on discrimination
Section 91: Annual Report
Section 36: Rejection of Proposal and Cancellation of Procurement Proceedings
Section 56: No Distribution of Dividend
Section 6: Procurement Plan to be Prepared
Section 76: Incorporation of Insurance Company for Micro Business Only
Section 36: General Meeting
Section 86: No hindrance to take actions
Section 100: Punishment for Violation of the Bank’s Regulation
Section 5: Not to make unauthorised withdrawals or payments
Section 65: Functions, Duties and Powers of Public Procurement Monitoring Office
Section 30: Criteria to be Followed
Section 10A: Regulation of Investment Abroad
Section 58: Labours may be employed through supplier
Section 134: Due Amount to be recovered
Section 68: International Clearing and Payment Agreements
Section 20: Qualifications of the Directors
Section 173: Increment of insurance amount
Section 75: Repeal and Amendment
Section 30: Functions, Duties and Powers of the Governor
Preamble
Section 19: Withdrawal and Modification of Bid
Section 139: Security of employment
Section 13: Provision relating to probation period
Section 15: Power of the Government of Nepal to Give Directives
Section 12: Not to Make Loss by Making Alteration in Account or Ledger or by Committing Forgery or Fraud
Section 82: Credits Recovery Tribunal
Section 22: Opening of Bids
Section 18: Tenure of Office of the Director
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Section 150: Insured Insurance Protections Fund

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