Section 74: Obtained Approval While Selling Assets

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1) The Foreign Insurance company shall, while selling or pledging any immovable assets located in Nepal or while selling or pledging any movable assets more than the prescribed limits or while taking back such assets to a foreign country, obtain approval from the Nepal Insurance Authority in addition to the approval to be obtained as per prevailing acts.

2) The Nepal Insurance Authority may prescribe necessary terms and conditions when granting such approval pursuant to sub-section (1).

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nepal law

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