- Type
- Act
- Year
- २०१९ 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 lets Nepal join the International Development Association (IDA), the World Bank's arm for low-income countries, on the conditions the IDA set. It authorises the Finance Minister, or an official the Minister designates in writing, to sign the IDA Articles of Agreement for Nepal and to deposit Nepal's instrument of acceptance with the International Bank for Reconstruction and Development (IBRD).यो ऐनले अन्तर्राष्ट्रिय विकास संघ (आईडीए, कम आय भएका देशलाई सहयोग गर्ने विश्व बैङ्कको निकाय) ले तोकेका शर्तमा नेपाललाई त्यसको सदस्य बनाउने व्यवस्था गर्छ। नेपाल सरकारको तर्फबाट संघको सम्झौतामा हस्ताक्षर गर्न र स्वीकृतिको लिखत अन्तर्राष्ट्रिय पुनर्निर्माण तथा विकास बैङ्क (आईबीआरडी) मा दाखिला गर्न अर्थमन्त्री वा निजले लिखित रूपमा तोकेको व्यक्तिलाई अधिकार दिन्छ। Nepal Law Commission (lawcommission.gov.np), consolidated text Preamble, PDF p. 1; Section 3, PDF p. 2
- The Finance Minister is authorised to pay Nepal's subscriptions and other amounts due to the IDA from the federal Consolidated Fund — the membership terms in Schedule 1 set Nepal's initial subscription at the equivalent of US$500,000 (in 1960 gold-value dollars) — and may issue non-interest-bearing, non-negotiable promissory notes in the IDA's name, also payable from the Consolidated Fund.अर्थमन्त्रीलाई आईडीएलाई तिर्नुपर्ने चन्दा र अन्य रकम सङ्घीय सञ्चित कोषबाट भुक्तानी गर्ने अधिकार छ — अनुसूची–१ का सदस्यता शर्तअनुसार नेपालको सुरुको चन्दा जनवरी १, १९६० को सुनको मूल्यका आधारमा ५ लाख अमेरिकी डलरबराबर तोकिएको छ — र आईडीएको नाममा ब्याज नलाग्ने तथा बेचबिखन गर्न नमिल्ने प्रोमिसरी नोट जारी गर्न सक्छन्, जसको भुक्तानी पनि सञ्चित कोषबाट हुन्छ। Nepal Law Commission (lawcommission.gov.np), consolidated text Sections 4–5, PDF pp. 2–3; Schedule 1, clause (ख), PDF p. 4
- Nepal Rastra Bank is designated as the IDA's depository in Nepal and the Secretary of the Ministry of Finance as the channel of communication. Notwithstanding other Nepali laws, the IDA enjoys the status, immunities and privileges set out in its Articles. The government may update the Schedules by notice in the Nepal Gazette when the Articles are amended, and may make rules.नेपाल राष्ट्र बैङ्कलाई नेपालमा आईडीएको डिपोजिटरी र अर्थ मन्त्रालयका सचिवलाई पत्राचारको माध्यम तोकिएको छ। प्रचलित नेपाल कानूनमा जुनसुकै कुरा लेखिएको भए पनि आईडीएलाई सम्झौतामा उल्लिखित हैसियत, छुट र विशेषाधिकार प्राप्त हुन्छ। सम्झौता संशोधन भएमा नेपाल सरकारले नेपाल राजपत्रमा सूचना प्रकाशित गरी अनुसूची संशोधन गर्न र नियम बनाउन सक्छ। Nepal Law Commission (lawcommission.gov.np), consolidated text Sections 6–10, PDF p. 3
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.