Section 29A: Declaration and Enquiry of Currency and Bearer Negotiable Instruments

1) Any person entering into or leaving Nepal who is in possession of currency or bearer negotiable instruments or who arranges for the transportation of such items of NRs or its equivalent in foreign currency by cargo, courier, postal service or any other means of the amount or more as prescribed by the Rastra Bank shall make an accurate written declaration as prescribed.

2) According to sub-section (1), while making a declaration, a person who is in possession of such currency or BNI shall declare it before the customs, and a person who is sending or receiving such items by cargo, courier, postal service, or any other means shall declare it before such agency.

3) The operator of cargo, courier, post or another similar service shall submit to the customs officer concerned, in the prescribed format, the details of the currency and holder exchange certificate declared in accordance with sub-section (2).

4) In case of suspicion that the declaration made pursuant to sub-section (1) or (2) or the statement furnished pursuant to sub-section (3) is false or incorrect, the customs officer may require such person to show the currency in his possession or the holder’s exchange certificate or may open the cargo, parcel or package in which the suspicion exists.

5) Other arrangements regarding the issuance of currency and bearer exchange certificates shall be as prescribed.