Section 70: The Insurance Appraisal

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1) An insurer engaged in insurance business shall have its financial position, assets, liabilities and financial position assessed by an actuary appointed with the approval of the Authority.

2) The concerned insurer shall submit a copy of the assessment report provided by the insurer pursuant to sub-section (1) to the Authority.

3) Other provisions relating to the assessment of the actuary shall be as prescribed.

Tagged:
insurance act
nepal law

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Section 23A: Standards to be Followed
Section 108: Oath of Office
Section 26: Rejection of Bids or Cancellation of Procurement Proceedings
Section 105: Formation of Management Committee
Section 10: Types of employment
Section 109: Authority may be delegated
Section 19: Working Area of Association and Cooperative Bank
Section 8: Right relating to trade union
Section 39: Capital of the Bank
Section 88O: Application for Liquidation May be Made
Section 73: Bank may ask for Particulars, Statistics and Documents
Section 14: Obligations of the Intermediary Practitioner
Preamble
Section 52: Limit of Personal Saving
Section 86C: Bank to Take Action Against Problematic Commercial Bank or Financial Institution
Section 51: Leave not as a matter of right
Section 136: Exercise of Voting Right
Section 23: Foreign citizen to obtain work permit to work in Nepal
Section 50: Method of Review
Section 57: Appointment of the Executive Director
Section 41: Claim Payable Fund and Reserve Fund
Section 124: Right to lock-outs
Section 14: Formation of the Board
Section 16: Permission of the Bank to be Obtained to Open an Account
Section 106: Actions not to be Invalid
Section 34: Opening of Financial Proposal
Section 158: High Court to perform functions of Labour Court
Section 7: Deemed to be a Contract
Section 25: Language of the contract
Section 26: Remuneration may be repatriated in convertible foreign currency
Section 32: Fixation of working hours
Section 14: Information to be provided to the Authority
Section 59: License to be obtained
Section 66: Provision Concerning Procurement to be Made in Special Circumstances
Section 88A: Power of the Bank to Carry Out Work of Resolution
Section 133: Provisions relating to misconduct may be made in the bye-law
Section 62: Liquid Assets to be maintained
Section 23: Punishment
Section 17: Punishment
Section 124: Payment of Re-insurance Claim
Section 136: Suspension of License or Ban of Insurance Business
Section 23: Repeal
Section 61A: Departmental Action to be Taken
Section 132: Prohibition of sexual harassment
Section 139: Procedures of Taking Actions
Section 130: Government of Nepal to be a plaintiff
Section 62: Insurance Contract
Section 99: Foreign Insurance Company shall inform to the Authority
Section 11: Process and Stage of Bidding
Section 86I: Right to Appeal Against the Order of the Bank
Section 68: International Clearing and Payment Agreements
Section 46: Compulsory Deposit of Commercial Banks and Financial Institutions
Section 15: Responsibilities of Traders Carrying Out E-Commerce Based on the List
Section 126: To freeze transactions, accounts and assets
Section 24: Issuance of order for creating encumbrances over the assets of a foreign individual
Section 25: ……………………………
Section 17: Time and limitation for the Lodgement of First Information Report
Section 23: Examination of Bids
Section 26: Summary Procedure to be Adopted
Section 27: Acceptance of Bid and Procurement Contract
Section 143: Special Provision Related with The Insured
Section 74: Obtained Approval While Selling Assets
Section 19B: Power to request details
Section 36: Entitlement to annual increment in remuneration (grade)
Section 142: Don’t work in the Insurance Business
Section 16: Seller’s Liability
Section 7: Not to avail or provide loans in an unauthorised manner
Section 101: Making application in convenient Office
Section 11G: Prohibition on Divulgence of Secrecy
Section 76: Bank’s Approval Required for Accepting Deposits or Giving Credits
Section 80: Provisions concerning Blacklist
Section 37: May order capital reduction
Section 23: Values, norms and principles of cooperative to be complied with
Section 149: Power to frame Rules
Section 50: Transaction of Savings and Credits to be made concentrating on Member
Section 22: Restriction on employment of foreigners
Section 13: Bidding Documents to be Prepared
Section 99: Power of the Office to give direction
Section 14B: Not to carry out banking transactions in an illegal manner
Section 67: Find of a Cooperative Organisation
Section 67: Prohibition on collecting fee from labour
Section 146: Resumption of operation
Section 22: Provisions relating to Delivery of Notice
Section 79: Micro-Insurance Regulation Fees
Section 88K: Actions Prior to the Commencement of the Action Relating to Resolution to be Inactive
Section 45: Works May be Done or Cause to be Done by Force Account
Section 123: Saving of actions taken in good faith
Section 56: Management of Insurance Company
Section 63: Provisions concerning sale and withdrawal of shares
Section 72: Duties of manufacturers, importers and suppliers
Section 71: Deposit Collection
Section 11E: Power to Arrest
Section 20: Cooperation to be extended
Section 155: Insurance Information Centre
Section 66: Foreign Exchange Reserve
Section 20: Reward to be Provision of Information
Section 20: Qualifications of the Directors
Section 54: Measurement, Weights and Size of Coins
Section 183: Repeal and saving
Section 47: Remuneration need not be paid
Section 3: Not to open an account or demand cash payment in an unauthorised manner
Section 17: Deadline for Submission of Bids or Pre-Qualification Proposals
Section 101: Insurer Deemed to be Problematic
Section 58: Mechanism for Dispute Settlement
Section169: Enact and Enforce Regulations
Section 61: Reproduction and Counterfeiting of Currency
Section 21: Action not be initiated on the ground of breach of secrecy
Section 70: Cooperative Promotion Fund
Section 142: Employment may be terminated on the ground of incompetence
Section 5: Restriction on Export and Import of Certain Currency and Bullion
Section 21: Accounting of Income and Expenditure
Section 79: Debts to be recovered
Section 135: Opportunity to be given to submit clarification
Section 2: Definitions
Section 37: Functions, Duties and Powers of Preliminary General Meeting
Section 47: Application May be Filed Before the Chief of Public Entity
Section 96: Obligations of inspector or employee
Section 98: To Regulate, Inspect and Monitor
Section 20: Classification may be made on Sectoral Basis
Schedule
Section 9: Tenure of Chairperson and Members
Section 28: Two-Stage Bidding
Section 62: Revocation, suspension of license or fine
Section 97: Prohibition to act
Section 35: Facilities not to be entitled to
Section 63: Management of Foreign Exchange
Section 42: Substitute leave
Section 85: Preference to be accorded
Section 87: Provisions concerning Amalgamation and Division
Section 87: Special provisions relating to tourism labours
Section 85: Audit Committee of Insurer
Section 28: Working hours
Section 8: Procurement Method to be Selected
Section 146: Recovery to be made as government due
Section 87: Audit of Insurer
Section 123: Special provisions relating to the submission of collective claims, demands
Section 64: Provisions Concerning Withdrawal of Amount and Operation of Accounts
Section 10: Not to acquire assets or open account by borrower who has over dues
Section 112: Notice to be given for submission of liabilities
Section 86B: Commercial Bank and Financial Institution Deemed to be Problematic
Section 42: Allocation of net loss
Section 12: Vacancy in the office of Chairperson or Member
Section 130: Observance of discipline and duties
Section 45: Operation of Open Market Transaction
Section 97: Special Provisions concerning Inspection and Monitoring of Organisation or Association carrying out transactions of savings and credits
Preamble
Section 139: Security of employment
Preamble
Section 122: Arbitral award and collective agreement to be binding
Section 121: Right to strike for settlement of collective disputes
Section 71: Evaluation Committee to be Formed
Section 172: Repeal and Saving
Section 29: Granting License
Section 22: Fines to be Imposed
Section 121: Priorities on the Payment of Liabilities in Case of Liquidation of the Insurance company
Section 14: Not to Carry Out and Cause to Carry Out Irregular Economic and Financial Transactions
Section 137: Revocation (Cancellation) of License of the Insurer
Section 116: Collective claim may be submitted
Section 63: Payment of remuneration and other benefits
Section 135: Special Provisions concerning operation of Association
Section 89: Fiscal Year
Section 52A: Provisions Relating to Advance Payment
Section 10: Goods or Services May be Returned
Section 6: Formation of the Board
Section 48: Review Committee
Section 151: Insurance Development Fund
Section 157: Collection of Statistics
Section 7: Functions not to be Carried out by the Bank
Section 145: Retrenchment may be made
Section 3: Establishment of the Authority
Article 144: Jurisdiction of the High Court
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