Section 34: Audit Committee

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*The Board shall constitute an Audit Committee as follows, which will be accountable to the Board: –

(a)	One Director designated by the Board	Coordinator
(b)	One subject expert designated by the Board	Member
(c)	Chief of the Internal Audit Department of the Bank	Member

*Amended by the Second Amendment

Tagged:
nepal law
nepal rastra bank act

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Section 115: Management Committee may write to take action
Section 11: No Association may be Formed
Section 14: Obligations of the Intermediary Practitioner
Section 38: Confidentiality
Section 120: Power to form labour arbitration tribunal
Section 4:
Section 90: Account System
Section 20: Not to restrain from working elsewhere
Preamble
Section 72: Records to be maintained
Section 28: Two-Stage Bidding
Section 106: Functions, duties and powers of Management Committee
Section 13: Bidding Documents to be Prepared
Section 110: Recommendation for Improving Financial Condition of the Insurer
Section 64: Insurance Premium
Section 79: Micro-Insurance Regulation Fees
Section 43: Annual Budget
Section 156: Establishment of Insurance Institutions
Section 129: Complaint Regarding Loss or Damage
Section 27: Bylaws to be framed
Section 103: Stabilisation Fund
Section 124: Payment of Re-insurance Claim
Section 65: Loans or Grants may be obtained
Section 57: Appointment of the Executive Director
Section 182: Powers to frame rules
Section 7: Prohibition on discrimination in remuneration for equal work
Section 74: Consultation on the Matter of Law Reform
Section 82: Credits Recovery Tribunal
Section 179: This Act to prevail
Section 121: Priorities on the Payment of Liabilities in Case of Liquidation of the Insurance company
Section 112: Performance evaluation of labours by enterprise
Section 89: Recommending Action
Section 131: Authority to adjudicate a case
Section 65: Group Insurance Fund
Section 157: Collection of Statistics
Section 105: Formation of Management Committee
Section 86: No hindrance to take actions
Section 41: Provision for Direct Procurement
Section 12: Employment relationship to be established
Section 8: Procurement Method to be Selected
Section 153: Not to Make Insurance Transactions with Anyone Except Insurer
Section 106: Actions not to be Invalid
Section 127: Double Fine to be imposed
Section 50: Computation of year
Section 34: Opening of Financial Proposal
Section 49: Accumulation of leave
Section 130: Observance of discipline and duties
Preamble
Section 101: Insurer Deemed to be Problematic
Section 52: Contribution for provident fund
Section 27: Power to Refuse Prior Approval
Article 144: Jurisdiction of the High Court
Section 74: Obtained Approval While Selling Assets
Section 88M: Final Description of the Work Relating to Resolution to be Submitted
Section 61: Type of Insurance Business
Section 28: Right to File a Complaint
Section 23: Foreign citizen to obtain work permit to work in Nepal
Section 17: Cooperative Organisation to be a Corporate Entity
Section 57: Prohibition of Purchase of Goods with Commercial Objectives
Section 30: Membership of Organisation
Section 38: Measures to Implement the Act
Section 168: Power to Frame Rules
Section 5: Restriction on Export and Import of Certain Currency and Bullion
Section 11: Not to stop credit facility in the way to loss working project of borrower
Section 127: Person Entitled to Get Payment
Section 27: Remuneration, conditions of service, benefits of and other provisions relating to foreign labours
Section 34: Deemed to Have Been Done by the Entrepreneur Himself
Section 24: Work permit may be issued
Section 40: Provision Relating to Sealed Quotation
Section 26: Prior approval required
Section 73: Investment in Subsidiary Company
Section 6A: Preparation of Exiting List
Section 112: Repeal and Saving
Section 128: Prohibition on filing of case against loss
Section 39: Meeting General Meeting
Section 128: Complaint Relating to Payment of Claim
Section 5: Formation of District Cooperative Association
Section 86F: Power of the Bank for Corrective Action
Section 142: Don’t work in the Insurance Business
Section 152: Complaint Hearing
Section 46: Not to be involved in the decision-making process having conflict of personal interest
Section 88G: Recommendation May be Made for Improving the Financial Condition of the Commercial Bank or Financial Institution
Section 21: Disqualification of the Directors
Section 7: Responsibility Towards Procurement Activities
Section 23: Constitution, Functions and Duties of Inquiry Committee
Section 170: Fixation of basic remuneration
Section 105: Official to be Suspended
Section 67: Find of a Cooperative Organisation
Section 71: Duties of the responsible person
Section 9: Payment of Price of the Exported Goods
Section 134: Due Amount to be recovered
Section 45: Prospectus and Issue of Shares
Section 28: Meeting of the Board
Section 161: Contact with the Government of Nepal
Section 95: Powers, functions and duties of inspector
Section 73: Delegation of Power
Section 102: Measures For the Reformation of Problematic Insurer
Section 16: Punishment to the Persons Creating Hindrance
Section 116: Recommendation may be made
Section 35: Evaluation of Financial Proposals
Section 119: Settlement of dispute through arbitration
Section 76: To stop work in the case of immediate danger
Preamble
Place and date of commencement of the remaining Sections of the Foreign Exchange (Regulation) Act, 2019
Section 86B: Commercial Bank and Financial Institution Deemed to be Problematic
Section 18B: Certification of Copy of Document Related to Foreign Exchange
Section 106A: Not to Work in Commercial Bank or Financial Institution
Section 47: Remuneration need not be paid
Section 20: No Exemption from Liability
Section 119: Power of The Authority to Initiate the liquidation Process
Section 120: Expert Service may be sought
Section 42: Election of Board
Section 32: Can open a branch office
Section 137: Period for taking decision
Section 139: Security of employment
Section 173: Increment of insurance amount
Section 14: Information to be provided to the Authority
Section 25: Public Notification of Governor’s Appointment
Section 11A: Designation of Investigating Officer
Section 78: License to be Obtained from Bank
Section 6: Prohibition on discrimination
Section 30: Provisions relating to overtime
Section 114: Insurer May Merge or be Amalgamated
Section 116: Insurer Many Acquire Another Insurer
Section 19: Part-time employment
Section 151: Formation of Labour Court
Section 52: Limit of Personal Saving
Section 48: Term of Office of the Director
Section 75: Credit to the Government of Nepal and Purchase of Government Debt Bonds
Section 105A: State Government may constitute a State Labour Advisory Council
Section 5: Prohibition on employment of children
Section 61A: Departmental Action to be Taken
Section 10A: Regulation of Investment Abroad
Section 20: Validity Period of Bid
Section 178: Transitional provisions
Section 16: Registration may be Denied
Section 81: Credit to Prescribed Sectors
Section 24: Investigation and Filing of Cases
Section 24: Objective of Organisation or Association
Section 3: License to be Obtained to Carry on Foreign Exchange Transaction
Section 22: Fines to be Imposed
Section 103: Functions, duties and powers of the Council
Section 15: Power of the Government of Nepal to Give Directives
Section 69: Activities restricted to be carried on by Insurance Company
Section 12: Vacancy in the office of Chairperson or Member
Section 13: Functions Duties and Powers of the Chairperson
Section 88A: Power of the Bank to Carry Out Work of Resolution
Section 8: Privileges and Facilities to the Bank
Section 3B: Other Provisions Relating to Foreign Exchange Transactions
Section 56: Management of Insurance Company
Section 31: Additional remuneration to be paid
Section 48: Formation of Accounts Supervision Committee
Section 11C: Power to Stop and Search Motor Vehicle
Section 170: Implementing Guidelines and Procedures
Section 183: Repeal and saving
Section 99: Power of the Office to give direction
Section 7: Not to avail or provide loans in an unauthorised manner
Section 5A: Approval to be Made
Section 103: Special Administration/Management Team
Section 100: Punishment for Violation of the Bank’s Regulation
Section 126: Employment contract not to be violated
Section 90: Work should not be done without a license
Section 134: Power to suspend
Section 106: Notice of the Work
Section 51: Monetary Unit
Section 35: Facilities not to be entitled to
Section 4: Formation of District Sectoral Cooperative Association
Section 10: Qualification of Bidder or Proponent
Section 81: Credit Information Centre
Section 46: Compulsory Deposit of Commercial Banks and Financial Institutions
Section 150A: Instructions On Prevention of Money Laundering Must Be Followed
Section 17: Time and limitation for the Lodgement of First Information Report
Section 16: Meeting of the Board
Section 79: Regulatory Powers of the Bank
Section 148: Payment of benefits
Section 23: Examination of Bids
Section 163: Power of the Department or Office to decide
Section 10: Goods or Services May be Returned
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