- Type
- Act
- Year
- २०२५ BS
- Status
- Status not yet confirmed
- Official text
- 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 set up Rastriya Beema Sansthan (National Insurance Corporation) as a body corporate with perpetual succession, to mobilise domestic savings and capital and reduce foreign-exchange spending on insurance. Its authorised capital is Rs 50 crore in five million shares of Rs 100, which it may change with government approval by notice in the Nepal Gazette. It took over the business and liabilities of the earlier Rastriya Beema Sansthan Private Limited.देशको आर्थिक विकासका लागि आन्तरिक साधन र पुँजी परिचालन गर्न र विदेशी मुद्राको व्ययभार रोक्न यो ऐनले अविच्छिन्न उत्तराधिकारवाला सङ्गठित संस्थाका रूपमा राष्ट्रिय बीमा संस्थानको स्थापना गरेको छ। संस्थानको अधिकृत पुँजी सय रुपैयाँका पचास लाख सेयरमा विभाजित पचास करोड रुपैयाँ हो र नेपाल सरकारको स्वीकृति लिई राजपत्रमा सूचना प्रकाशित गरी यसलाई घटबढ गर्न सकिन्छ। यसअघिको राष्ट्रिय बीमा संस्थान प्राइभेट लिमिटेडको कारोबार र दायित्व यसै संस्थानमा सरेको छ। Ministry of Law, Justice and Parliamentary Affairs (moljpa.gov.np), consolidated text Preamble, PDF p. 1; Sections 3–4, PDF pp. 2–3; Section 27, PDF p. 11
- A board of up to seven directors runs the Corporation. The Government of Nepal appoints the chair and a majority of directors; shareholders elect the rest at the general meeting. Directors serve three-year terms and can be reappointed. The Act lists who cannot serve, such as anyone under 21, bankrupt, convicted of a crime of moral turpitude, holding a private interest in a Corporation contract, or employed by it.बढीमा सात जना सदस्य रहने सञ्चालक समितिले संस्थान सञ्चालन गर्छ। अध्यक्षसहित बहुमत सञ्चालक नेपाल सरकारले नियुक्त गर्छ र बाँकी सञ्चालक साधारण सभामा सेयरवालाले नियुक्त गर्छन्। सञ्चालकको पदावधि तीन वर्षको हुन्छ र पुनः नियुक्त हुन सकिन्छ। एक्काइस वर्ष नपुगेको, दामासाहीमा परेको, नैतिक पतन देखिने फौजदारी अपराधमा सजाय पाएको, संस्थानको ठेक्का वा करारमा निजी स्वार्थ भएको वा संस्थानकै कर्मचारी रहेको व्यक्ति सञ्चालक हुन पाउँदैन। Ministry of Law, Justice and Parliamentary Affairs (moljpa.gov.np), consolidated text Sections 6–7, PDF pp. 3–4
- The Corporation's core duty is the insurance business, including life insurance and reinsurance. It may also invest in Nepal or abroad, lend against security, underwrite and guarantee share and bond issues, appoint agents and issue bonds and preference shares. It keeps a separate life insurance fund. Its auditor is appointed by the annual general meeting, and the government can give it directions in the national interest or the Corporation's interest, which it must follow.बीमा व्यवसाय गर्नु, जसमा जीवन बीमा र पुनर्बिमा पर्छन्, संस्थानको मुख्य कर्तव्य हो। यसले नेपालभित्र वा विदेशमा लगानी गर्न, धितोमा ऋण दिन, सेयर र ऋणपत्र निष्कासनमा ग्यारेन्टी र अन्डरराइट गर्न, एजेन्ट नियुक्त गर्न तथा ऋणपत्र र प्रिफरेन्स सेयर जारी गर्न पनि सक्छ। जीवन बीमा व्यवसायको आम्दानी छुट्टै जीवन बीमा कोषमा राखिन्छ। लेखापरीक्षकको नियुक्ति वार्षिक साधारण सभाले गर्छ र राष्ट्र वा संस्थानको हितका लागि नेपाल सरकारले दिएको निर्देशन पालना गर्नु संस्थानको कर्तव्य हुन्छ। Ministry of Law, Justice and Parliamentary Affairs (moljpa.gov.np), consolidated text Section 13, PDF pp. 6–8; Sections 14–16, PDF pp. 8–9; Section 23, PDF p. 10
- Anyone who knowingly or in bad faith fails to do, or does, something that harms the Corporation must repay the loss and faces up to three years in prison or a fine of up to Rs 3,000, or both. Using the Corporation's name in an advertisement without written approval carries up to six months in prison or a fine of up to Rs 1,000, or both; obstructing its auditor carries a fine of up to Rs 1,000.जानाजानी वा बदनियतसाथ गर्नुपर्ने काम नगरी वा गर्न नहुने काम गरी संस्थानलाई हानि पुर्याएमा नोक्सानी बिगो असुल गरी तीन वर्षसम्म कैद वा तीन हजार रुपैयाँसम्म जरिवाना वा दुवै सजाय हुन्छ। संस्थानको लिखित स्वीकृतिबिना विज्ञापनमा यसको नाम प्रयोग गरेमा छ महिनासम्म कैद वा एक हजार रुपैयाँसम्म जरिवाना वा दुवै, र लेखापरीक्षकलाई बाधा पुर्याएमा एक हजार रुपैयाँसम्म जरिवाना हुन्छ। Ministry of Law, Justice and Parliamentary Affairs (moljpa.gov.np), consolidated text Section 26(1)–(3), PDF pp. 10–11
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.