Section 153: Not to Make Insurance Transactions with Anyone Except Insurer

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1) Any person or organisation shall not make any transactions related to the insurance business with anyone except the insurer possessing a license pursuant to this Act.

2) The insurance of properties situated in Nepal and liabilities to be created within Nepal shall be made only with the insurer possessing a license pursuant to this Act.

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insurance act
nepal law

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Section 4:
Section 19: Withdrawal and Modification of Bid
Section 57: Payment of Bill or Invoice
Section 135: Special Provisions concerning operation of Association
Preamble
Section 14: Inspection
Section 68: Method of Communication
Section 46: Birth registration certificate to be submitted
Section 84: Preparation of Financial Statements
Section 21: Action not be initiated on the ground of breach of secrecy
Section 16: Punishment to the Persons Creating Hindrance
Section 45: Maternity leave
Section 97: To render necessary assistance
Section 1: Short Title, Extension and Commencement
Section 30: Functions, Duties and Powers of the Governor
Section 36: Entitlement to annual increment in remuneration (grade)
Section 101: Cooperative Savings and Credits Security Fund
Section 11: Prohibition on employment without entering into employment contract
Section 94: Delegation of Authority
Section 7: Functions not to be Carried out by the Bank
Section 39: Compulsory Reserve Fund
Section 12: Vacancy in the office of Chairperson or Member
Section 56: Provision Concerning Extension of Contract Period
Section 25: Public Notification of Governor’s Appointment
Section 79: To give information
Section 13: Operation of Accounts
Section 111: Formation of labour relation committee
Section 86C: Bank to Take Action Against Problematic Commercial Bank or Financial Institution
Section 5: Functions, Duties and Power of the Authority
Section 58: Labours may be employed through supplier
Section 97: Prohibition to act
Section 39: Meeting General Meeting
Electronic Commerce (E-Commerce) Act 2081
Section 100: Punishment for Violation of the Bank’s Regulation
Schedule
Section 61: Obligations of labour supplier
Section 54: Medical insurance to be made
Section 27: Acting Governor
Section 93: Provisions relating to Office and inspectors
Section 9: Tenure of Chairperson and Members
Section 18A: Filing of Case
Section 24: Restriction on Insurance Business without license
Section 14: Information to be provided to the Authority
Section 4: Formation of District Sectoral Cooperative Association
Section 148: Payment of benefits
Section 134: Power of The Authority
Section 19: Working Area of Association and Cooperative Bank
Section 1: Short Title, Extension and Commencement
Section 151: Standards, Directives or Procedures may be framed and submit
Section 38: Procurement Contract to be Concluded
Preamble
Section 26: Fulfilment of Vacant Office
Section 108: Provisions concerning Payment of Liabilities
Section 73: Duties of labour
Section 33: May become members
Section 49: Functions, duties and powers of Accounts Supervision Committee
Section 75: Credit to the Government of Nepal and Purchase of Government Debt Bonds
Section 124: Payment of Re-insurance Claim
Preamble
Section 168: Power to Frame Rules
Section 10: Goods or Services May be Returned
Section 88: Provisions relating to domestic labours
Section 3B: Other Provisions Relating to Foreign Exchange Transactions
Section 98: Report to be submitted
Section 13: Prohibition of Sale and Distribution
Section 28: To be governed as per the prevailing laws
Section 11: No Association may be Formed
Section 116: Recommendation may be made
Section 18: Method of Submission of Bids
Section 10C: Provisions Relating to Repatriation, Investment of, and Transfer of Right in Foreign Exchange
Section 19: Document to be Void
Section 12: Not to Make Loss by Making Alteration in Account or Ledger or by Committing Forgery or Fraud
Section 117: To hold negotiations on collective claims, demands
Section 12A: Not to make any Fraudulent Activities to Bank and Financial Institutions and Cooperatives
Section 48: Formation of Accounts Supervision Committee
Section 62: Revocation, suspension of license or fine
Section 10: Qualification of Bidder or Proponent
Section 15: International Level Bidding
Section 45: Prospectus and Issue of Shares
Section 59: Nepal Rastra Bank may take over Management
Section 7: Responsibility Towards Procurement Activities
Section 31: Additional remuneration to be paid
Section 16: Registration may be Denied
Section 143: Settlement of Disputes
Section 182: Powers to frame rules
Section 112: Repeal and Saving
Section 133: Provisions relating to misconduct may be made in the bye-law
Section 114: Insurer May Merge or be Amalgamated
Section 137: Period for taking decision
Section 16: Permission of the Bank to be Obtained to Open an Account
Section 37: May order capital reduction
Section 31: Soliciting Proposals
Section 6: Disclosure of Details
Preamble
Section 47: Formation of Board of Directors
Section 94: Powers, functions and duties of the Office
Section 37: Power to Make a Directory
Section 109: This Act to be Applicable
Section 98: To Regulate, Inspect and Monitor
Section 34: Opening of Financial Proposal
Section 161: Contact with the Government of Nepal
Section 125: Picketing or assembly may be made
Section 128: Nepal Rastra Bank may punish
Section 101: Making application in convenient Office
Section 5: Registration Required
Section 19: Prohibition of Engaging in Improper Commercial or Business Activities
Section 118: Settlement through mediation
Section 81: To engage in easier work
Section 81: Re-Insurance Business
Section 63: Payment of remuneration and other benefits
Section 9B: Acts Not to be Done by the Exporter
Section 83: Accounts to be maintained accurately
Section 62: Foreign Exchange Policy
Section 88I: Sequence of Priority of Payment
Section 50: Disqualifications of Directors
Section 21 Deemed to Have Committed an Offense
Section 104: Organisation or Association may be declared problematic
Section 65: Loans or Grants may be obtained
Section 113: Submission of individual claims
Section 162: Right to make complaint
Section 135: Authority May Give Direction to Withold Payment of Insurance or Revoke the Insurance Policy
Section 149: Power to frame Rules
Section 94: Report on Monetary Policy
Section 22: Grounds for Removal of the Directors from Office
Section 145: Limitation for Complaint
Section 82: Provisions related to re-insurance contracts
Section 40: Catastrophic Fund
Section 28: Working hours
Section 28: Application to be made
Section 142: Don’t work in the Insurance Business
Section 88M: Final Description of the Work Relating to Resolution to be Submitted
Section 164: Decision may be made by the Labour Court
Section 2: Definitions
Section 67: Find of a Cooperative Organisation
Section 64: Obligations of the main employer
Section 119: Settlement of dispute through arbitration
Section 153: Powers of Labour Court
Section 127: Double Fine to be imposed
Section 9: Formation of Specialised Cooperative Association
Section 99: Power of the Office to give direction
Section 6: Prior Right of the Bank
Section 21: Provisions relating to social security
Section 107: Inventory to be prepared
Section 50: Discount Rate and Rate of Interest for Refinance
Section 60: Able to create a whistleblowing policy
Section 90: Work should not be done without a license
Section 12: Personal Information Must be Kept Confidential
Section 13: No Operation of Cooperative Organisation without Registration
Section 18: Inquiry and Institution of Case
Section 167: Pursuant to this Act
Section 142: Employment may be terminated on the ground of incompetence
Section 59: Account of Issued Currency
Section 4: Procedure for Carrying on Foreign Exchange Transactions
Section 150: Insured Insurance Protections Fund
Section 128: Prohibition on filing of case against loss
Section 48: Term of Office of the Director
Section 61: Type of Insurance Business
Section 150: To issue the certificate of experience
Section 66: Foreign Exchange Reserve
Section 24: Issuance of order for creating encumbrances over the assets of a foreign individual
Section 65: To make inspection, supervision and monitoring
Section 26: Rejection of Bids or Cancellation of Procurement Proceedings
Section 115: Management Committee may write to take action
Section 67: Restrictions on undertaking business in partnership or acquire assets in ownership
Section 120: Power to form labour arbitration tribunal
Section 14: Continuity of existence of the employment relationship despite change in ownership
Section 86D: Effect of the Control of the Bank on any Commercial Bank or Financial Institution
Section 143: Employment may be terminated on the ground of health
Section 82: Information to be Furnished to Bank
Section 43: Provision Relating to Renting House and Land and Obtaining Service on Contract
Section 126: Apparent loss or damage
Preamble
Section 29: Coordination Required
Section 63: Blocklisting and Exclusion from the Blocklist
Section 102: Measures For the Reformation of Problematic Insurer
Section 62: Insurance Contract
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Section 153: Not to Make Insurance Transactions with Anyone Except Insurer

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