Section 7T: Regulation and Supervision of Indicative Institutions

1) Regulation, supervision and monitoring of reporting entity under this Act shall be conducted by the Regulator mandated for the regulation and supervision of such entity pursuant to prevailing laws.

2) If there is any provision in the prevailing law regarding the regulatory body of an indicator institution, the Government of Nepal may, in consultation with the National Coordination Committee, by publishing a notice in the Nepal Gazette, designate anybody or any institution existing as a regulatory body to act as a regulatory body of such indicator institution.

3) In relation to the regulation and supervision of the reporting entity, shall undertake the functions, responsibilities and powers set out in this Act, in addition to the functions, responsibilities and authorities prescribed under other prevailing laws.