Section 76: Incorporation of Insurance Company for Micro Business Only

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1) Notwithstanding anything mentioned elsewhere in this act, an insurance company may be incorporated only for undertaking a micro-life insurance business or a micro non-life insurance business.

2) The capital of micro-insurance companies to be established as per sub-section (1), shall be as prescribed.

3) Provisions relating to incorporation and licensing of micro-insurance companies to be established as per sub-section (1), shall be as per this Act.

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insurance act
nepal law

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Section 136: Suspension of License or Ban of Insurance Business
Section 61A: Departmental Action to be Taken
Section 18: Method of Submission of Bids
Section 51: Discontinue to hold the office of Director
Section 58: Labours may be employed through supplier
Section 171: Act Implementation Measurement
Section 65: Dealing in Foreign Exchanges
Section 52: Contribution for provident fund
Section 6: Not to obtain or make payment by way of abuse or unauthorised use of electronic means
Section 182: Powers to frame rules
Section 124: Right to lock-outs
Section 43: Restriction on Distribution of Dividend
Article 144: Jurisdiction of the High Court
Section 137: Revocation (Cancellation) of License of the Insurer
Section 77: Direction to stop the work
Section 50: Method of Review
Section 130: Government of Nepal to be a plaintiff
Section 10C: Provisions Relating to Repatriation, Investment of, and Transfer of Right in Foreign Exchange
Section 174: Delegation of authority
Section 166: Decisions to be executed
Section 24: Investigation and Filing of Cases
Section 88: Right to give order with respect to Audit of Insurer
Section 105A: State Government may constitute a State Labour Advisory Council
Section 113: Audit Report to be prepared
Section 147: Authority to Hear Case and Execution of The Decision
Section 8: Right relating to trade union
Section 85: Special provisions relating to construction labours
Section 28: Two-Stage Bidding
Section 15: Continuity of existence of employment relationship during the period held in reserve
Section 134: Due Amount to be recovered
Section 15: Power of the Government of Nepal to Give Directives
Section 90: Account System
Section 80: Banking and Financial System and Credit Control
Section 88C: Function, Duty and Power of Special Administration Team
Section 86D: Effect of the Control of the Bank on any Commercial Bank or Financial Institution
Section 8: Not to misuse credit
Section 82: Credits Recovery Tribunal
Section 78: Claim of Micro-Insurance
Section 99: Fine for Violation of the Bank’s Regulation
Section 36: No Impediment to Prosecuting Cases in Accordance with Prevailing Law
Section 95: Cancellation of License
Section 71: Provisions concerning Other Funds
Section 150: To issue the certificate of experience
Section 38: Prohibition on deduction of remuneration
Section 106: Fixation of minimum remuneration
Section 24: Issuance of order for creating encumbrances over the assets of a foreign individual
Section 7: Deemed to be a Contract
Section 101: Insurer Deemed to be Problematic
Section 103: Stabilisation Fund
Section 160: Procedures of the cases
Section 112: Performance evaluation of labours by enterprise
Section 88: Provisions relating to domestic labours
Section 6: Prior Right of the Bank
Section 78: Special provisions relating to occupational safety and health
Section 65: Loans or Grants may be obtained
Section 98: Ministry to conduct Inspection and Monitoring
Section 2: Definitions
Section 10: Goods or Services May be Returned
Section 31: Refusal for Prior Approval and License
Section 28: To be governed as per the prevailing laws
Section 3: License to be Obtained to Carry on Foreign Exchange Transaction
Section 135: Special Provisions concerning operation of Association
Section 10: Qualification of Bidder or Proponent
Preamble
Section 112: Final Report to be Submitted
Section 136: Exercise of Voting Right
Section 11: Prohibition on employment without entering into employment contract
Section 86H: Decreasing the Capital of Problematic Commercial Bank or Financial Institution
Section 157: Collection of Statistics
Section 63: Management of Foreign Exchange
Section 22: Audit
Section 165: Provide Expert Services
Section 3: Establishment of the Bank
Section 119: Settlement of dispute through arbitration
Section 33: Can open a liaison office
Section 44: Construction Works May be Caused to be Carried Out by the Users Committee or Beneficiary Community
Section 14: Information to be provided to the Authority
Section 30: Provisions relating to overtime
Section 19A: Special investigation team may be formed
Section 152: Repeal and Saving
Section 35: Payment of remuneration
Section 18A: Filing of Case
Section 19: Proceedings may be initiated by detaining into the custody
Section 82: Special provisions relating to treatment of occupational disease
Section 152: Complaint Hearing
Section 43: Annual Budget
Section 14: Continuity of existence of the employment relationship despite change in ownership
Section 34: Opening of Financial Proposal
Section 79: To give information
Section 14: Formation of the Board
Section 47: Formation of Board of Directors
Section 92: Qualifications of Insurance Mediators
Section 139: Procedures of Taking Actions
Section 13: Prohibition on Entering into Contract in Contravention of the Objective of This Act
Section 86F: Power of the Bank for Corrective Action
Section 16: Meeting of the Board
Section 57: Payment of Bill or Invoice
Section 135: Opportunity to be given to submit clarification
Section 149: No Obstruction for Punishment
Section 63: Blocklisting and Exclusion from the Blocklist
Section 89: Appointment of a Liquidator
Section 37: Professional Code of Conduct and Official Responsibility
Section 29: Coordination Required
Section 148: Payment of benefits
Section 114: Remedial Actions may be taken
Section 57: Appointment of the Executive Director
Section 10B: Provisions Relating to Lending and Borrowing of Loans in Foreign Exchange
Section 117: To hold negotiations on collective claims, demands
Section 8: Duty of Importers
Section 63: Provisions concerning sale and withdrawal of shares
Section 80: Arrangements for control of infectious diseases to be made
Section 75: Micro Insurance is Required
Section 57: Social security scheme to be applicable
Section 131: Operation and Management of Insurance in Province
Section 19: Withdrawal and Modification of Bid
Section 133: Annual Report Submit
Section 6A: Preparation of Exiting List
Section 24: Resignation by Director
Section 18: Inquiry and Institution of Case
Section 27: Acceptance of Bid and Procurement Contract
Section 81: To engage in easier work
Public Procurement Act 2063
Section 23: Repeal
Section 34: Cancellation of License
Section 108: Internal management may be made
Section 26: Summary Procedure to be Adopted
Section 15: International Level Bidding
Section 25: Evaluation of Bids
Section 111: Other Provisions Regarding Special Management of The Insurer
Section 126: To freeze transactions, accounts and assets
Section 122: Insolvency of the Branch Office of Foreign Insurance Company Situated in Nepal
Section 12: Power of Bank to Give Direction, Frame By-Law or Issue Order or Notice
Section 146: Government of Nepal to be Plaintiff
Section 54: Medical insurance to be made
Section 21: Claim or Complaint Not to Lie
Section 47: Failure to Maintain Compulsory Deposit
Section 131: Authority to adjudicate a case
Section 26: Rejection of Bids or Cancellation of Procurement Proceedings
Section 100: Regulation Fee
Section 89: Provisions relating to seasonal enterprises
Section 55: Accidental insurance to be made
Section 84: Preparation of Financial Statements
Section 30: Criteria to be Followed
Section 32: Fixation of working hours
Section 158: Not being held accountable for actions done with good intentions
Section 61: Conduct of the Official Involved in Public Procurement Proceedings
Section 26: Prior approval required
Section 99: Power of the Office to give direction
Section 71: Deposit Collection
Preamble
Section 88F: New Balance Sheet to be Prepared
Section 94: Renewal of License of Insurance Intermediaries
Section 62: Liquid Assets to be maintained
Section 98: To Regulate, Inspect and Monitor
Section 99: Foreign Insurance Company shall inform to the Authority
Section 15: Responsibilities of Traders Carrying Out E-Commerce Based on the List
Section 55: Prohibition on Disbursing Credit
Section 61: Confidentiality to be maintained
Section 105: Provisions relating to meetings of the Council
Section 67A: Procurement Proceedings Should Not Be Obstructed
Section 5: Registration Required
Section 95: Inspection and Checking of Accounts
Section 88I: Sequence of Priority of Payment
Section 73: Duties of labour
Section 93: Functions, duties and powers
Section 2: Definition
Section 160: Delegation of Authority
Section 70: The Insurance Appraisal
Section 81: Credit Information Centre
Section 116: Recommendation may be made
Section 9: Tenure of Chairperson and Members
Section 12: Pre-Qualification to be Determined
Section 17: Cooperative Organisation to be a Corporate Entity
Section 23: Constitution, Functions and Duties of Inquiry Committee
Section 28: Working hours
Section 126: Employment contract not to be violated
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Section 76: Incorporation of Insurance Company for Micro Business Only

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