Section 112: Repeal and Saving

1) The following Acts have been repealed:

(a) The Nepal Rastra Bank Act, 2012 (1955),

(b) The Currencies Act, 2040 (1983).

2) All acts and activities carried out in accordance with the Acts repealed under sub-section (1) shall be deemed to have been carried out in accordance with this Act.

Note:-

1. Section 7 of the Nepal Rastra Bank (First Amendment) Act, 2063 reads as follows:
2. Consequences of the Nepal Rastra Bank (First Amendment) Ordinance becoming inoperative:

If the Nepal Rastra Bank (First Amendment) Ordinance, 2062 becomes inoperative, the inactivity,

(a) shall not revive anything that was not in force or in force at the time the Ordinance became inoperative,

(b) shall not affect anything that was in force or in force under that Ordinance or any act done or suffered before the due process thereof,

(c) shall not affect any right, facility, duty or liability received, acquired or suffered under that Ordinance,

(d) shall not affect any punishment or forfeiture imposed under that Ordinance,

(e) shall not affect any action or remedy taken in relation to any such right, facility, duty or liability or punishment as mentioned above, and any such legal action or remedy may be commenced, continued or enforced as if the said Ordinance were in force.

2. Words transformed by the Certain Nepal Laws Amendment Act, 2063:

Instead of “Shri 5’s Government”, “Government of Nepal”.

3. Words transformed by the Certain Nepal Laws Amendment, Adjustment and Repeal Act, 2074: “Schedule-1 of the Government Cases Act, 2049” instead of “Schedule-1 of the National Criminal Procedure (Code) Act, 2074”.
4. Repeal and Defence:

(1) The Ordinance to Amend Certain Nepal Acts Relating to Cooperatives, 2081, is repealed.

(2) The acts and actions taken pursuant to the Ordinance to Amend Certain Nepal Acts Relating to Cooperatives, 2081, shall be deemed to have been taken pursuant to this Act.

(3) The National Cooperative Development Board Act, 2049, is repealed.

(4) The acts and actions taken pursuant to the National Cooperative Development Board Act, 2049, shall be deemed to have been taken pursuant to this Act.

(5) The assets, liabilities and employees of the National Cooperative Development Board, including movable and immovable properties, as referred to in sub-section (4), shall automatically be transferred to the Authority.

(6) The members of the National Cooperative Development Board who are in office at the time of the commencement of this Section shall automatically be relieved of their posts after the commencement of this Section.

(7) The employees referred to in sub-section (5) may be adjusted to the same level and post of the Authority as prescribed and may be granted voluntary leave by providing the prescribed facilities.