- Type
- Act
- Year
- २०१८ BS
- Status
- In force
- Category
- खण्ड ७: मुद्रा, बैङ्किङ्ग, बीमा, वित्तीय संस्था तथा धितोपत्र · Volume 7: Currency, Banking, Insurance, Financial Institutions and Securities
- Official text
- Official page Official text (PDF)
- English translation
- Official English translation archived copy: the original page is no longer online
Includes amendments up to: 2066 BS. Translations may not include later amendments. The Nepali text is the authoritative law.
Analysis drawn from official reports, court rulings and published research, each cited. Figures are being double-checked against the source documents; corrections are welcome.
What does it do?
- The Act (2018 BS, i.e. 1961 AD) enables Nepal to join the International Monetary Fund and the International Bank for Reconstruction and Development (World Bank) on the terms set by those institutions, set out in its schedules. The Finance Minister may authorise a person to sign the Articles of Agreement, deposit Nepal's acceptance with the United States government, and accept later amendments — including the IMF's Special Drawing Rights and increases in Nepal's quota and shares.यस ऐन (वि.सं. २०१८) ले अनुसूचीमा उल्लिखित शर्तअनुसार नेपाललाई अन्तर्राष्ट्रिय मुद्राकोष (IMF) र अन्तर्राष्ट्रिय पुनर्निर्माण तथा विकास बैंक (विश्व बैंक) को सदस्य बन्ने बाटो खोलेको हो। अर्थमन्त्रीले तोकेको व्यक्तिलाई सम्झौताका धारामा हस्ताक्षर गर्ने, नेपालको स्वीकृतिको लिखत संयुक्त राज्य अमेरिकाको सरकारमा दाखिल गर्ने र पछिका संशोधन (विशेष रकम झिक्ने अधिकार — SDR — तथा कोटा र शेयर वृद्धिसमेत) स्वीकार गर्ने अधिकार दिन सक्छन्। Nepal Law Commission (lawcommission.gov.np), consolidated official text Preamble and Sections 1–3, pp. 1–3; Schedules from p. 7
- The Finance Minister may pay Nepal's dues to the Fund and the Bank from the Federal Consolidated Fund, provide freely usable currency when the IMF calls on Nepal, issue non-interest-bearing, non-negotiable promissory notes to them, and borrow from Nepal Rastra Bank against such notes (to be repaid within five years) to meet these payments.अर्थमन्त्रीले कोष र बैंकलाई तिर्नुपर्ने रकम सङ्घीय सञ्चित कोषबाट भुक्तानी गर्न, मुद्राकोषले माग गरेमा स्वतन्त्र रूपमा प्रयोग गर्न सकिने मुद्रा उपलब्ध गराउन, तिनका नाममा निर्ब्याजी र बेचबिखन गर्न नमिल्ने ऋणपत्र जारी गर्न, र यी भुक्तानीका लागि त्यस्ता ऋणपत्रका आधारमा नेपाल राष्ट्र बैंकबाट ऋण लिन (पाँच वर्षभित्र फिर्ता गर्ने गरी) सक्छन्। Nepal Law Commission (lawcommission.gov.np), consolidated official text Sections 4–6, pp. 3–4
- Nepal Rastra Bank is designated Nepal's fiscal agency and depository for the IMF and depository for the World Bank, and handles all SDR and other exchange transactions with the Fund. Notwithstanding other Nepali law, the Fund and the Bank enjoy the status, immunities and privileges in their Articles (with full tax exemption for SDR operations), and the IMF rule on unenforceability of exchange contracts applies as law in Nepal. The government may update the schedules by Gazette notice when the Articles change.नेपाल राष्ट्र बैंकलाई मुद्राकोषका लागि फिस्कल एजेन्सी र डिपोजिटरी तथा विश्व बैंकका लागि डिपोजिटरी तोकिएको छ, र मुद्राकोषसँगका विशेष रकम झिक्ने अधिकार (SDR) र अन्य विनिमय कारोबार राष्ट्र बैंकले गर्छ। प्रचलित नेपाल कानूनमा जुनसुकै कुरा लेखिएको भए पनि कोष र बैंकले आफ्ना सम्झौतामा उल्लिखित हैसियत, उन्मुक्ति र विशेषाधिकार पाउँछन् (SDR कारोबारमा पूर्ण कर छुटसहित), र विनिमयसम्बन्धी करारनामा लागू नहुने मुद्राकोषको नियम नेपालमा कानूनसरह लागू हुन्छ। सम्झौतामा संशोधन भए सरकारले राजपत्रमा सूचना प्रकाशन गरी अनुसूची संशोधन गर्न सक्छ। Nepal Law Commission (lawcommission.gov.np), consolidated official text Sections 7–10, pp. 4–5
Gaps, loopholes and improvement ideas
None documented in the official reports we have reviewed so far.
Where does it conflict with other laws?
No conflict with another law is documented in the sources we have reviewed so far.