Laws and Acts

Asset or Money Laundering Prevention Act

The Asset (Money) Laundering Act was last amended in 2011 and is in full force. The act covers all types of assets, including those that are: tangible and intangible, movable and immovable, or any object or instrument which has monetary value. The act also covers documents, evidence, interest, claim, or any other instrument establishing ownership or right over such assets.

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Bank and Financial Institutions Act

The Bank and Financial Institution Act came into force in August 2006. This act applies to all offices, regardless of location, opened by a bank or financial institution. The goals of this act are to promote the trust of the general public in Nepal's banking and financial system, protect and promote the rights of depositors, provide quality and reliable banking and financial intermediary services.

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Company Act

The Company Act 2006 was amended and enacted in August 2007. The act aims to foster dynamic economic development by promoting investment in industry, trade and business.

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Competition-Promotion-and-Market-Protection Act

The Competition, Promotion, and Market Protection Act was established in 2007 to promote an open, liberal, and competition-friendly national economy. This act not only applies to the whole of Nepal, but also extends to Nepalese investors investing outside of Nepal.

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Consumer-Protection Act

The Consumer Protection Act, enacted in April 1999, protects consumers from irregularities relating to quality, quantity, and price of goods and services.

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Contract Act

This Contract Act 2000 was amended and enacted in 2006. The act updated the legal provision concerning contracts between two or more parties.

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Copyright Act

The Copyright Act 2002 was amended and enacted in 2005. The act provides a legal provision relating to copyright work in the fields of literature, art, science, and others.

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Electricity Act

In order to develop electricity power by its generation, distribution as well as to standardize and safeguard the electricity services, the Electricity Act 1992 has come into force since then.

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Environment Protection Act

Clean and healthy environment by minimizing unwanted interference from various factors is important, to maintain the environment from adverse impacts and to protect environment with proper use and management of natural resources, the Environment Protection Act 1997 has commence on force.

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Foreign Exchange Regulation Act

The Foreign Exchange (Regulation) Act, 1962 was most recently amended in 2009. This act regulates the foreign exchange as it pertains to monetary instruments, including currency notes, postal orders, money orders, cheques, drafts, travelers cheques, letters of credit, bills of exchange, promissory notes, and credit cards.

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Foreign Investment and Technology Transfer Act

The Foreign Investment and Technology Transfer Act, 1992 was formulated to promote the maximum mobilization of limited capital to increase the competitiveness of Nepal's human capital and natural resources. The act was amended and enacted in August 2000.

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Income Tax Act

The Financial Act, 2011 (formerly the Income Tax Act 2002) addresses the charges, taxes, duties, and fees relating to revenue administration of the GON.

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Insurance Act

The Insurance Act 1992 established the Insurance Board, which is responsible for regulating, and developing the insurance industry in Nepal.

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Investment Board Act

The Investment Board was established to accelerate industrialization and develop a strong, dynamic and competitive economy through increased infrastructure. The board is regulated by the Investments Board Act, 2010, and it aims to mobilize national and foreign private sector investment.

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Labor Act

Labor Act, 1992 addresses provisions relating to labors rights, interests, facilities and safety of workers. It was last amended in January 1998.

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