- Type
- Regulation
- Year
- २०६० BS
- Status
- In force
- Category
- खण्ड ७: बैंकिङ्ग, बिमा, वित्तीय संस्था तथा सम्पत्ति शुद्धिकरण · Volume 7: Banking, Insurance, Financial Institution, and Money Laundering
- 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: 2061 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 regulation sets up the Contingency Insurance Fund to arrange reinsurance for claims from the "risk group" covered by non-life policies: riots, strikes, civil unrest, malicious acts and terrorism. The Fund holds money from the Government of Nepal, seed money from member insurers, the premiums insurers charge for this risk, reinsurance commission and profit, and investment returns.यो नियमावलीले निर्जीवन बीमालेखले समेट्ने "जोखिम समूह" अर्थात् हुलदङ्गा, हडताल, नागरिक उपद्रव, द्वेषपूर्ण कार्य र आतङ्कवादबाट हुने दाबीको पुनर्बीमा व्यवस्था गर्न आकस्मिक बीमा कोष स्थापना गरेको छ। कोषमा नेपाल सरकारबाट प्राप्त रकम, सदस्य बीमकको बीउ रकम, यस जोखिमबापत बीमकले लिएको शुल्क, पुनर्बीमा कमिसन र मुनाफा तथा लगानीको प्रतिफल रहन्छ। Nepal Law Commission Rules 2(ख) and 3(1)-(2), PDF pp. 2-3
- Any insurer registered to do non-life insurance business under the Insurance Act, 2049 may become a member by applying to the Board of Directors on the form in Schedule 1. Membership lasts one fiscal year and must be renewed within one month of expiry by paying the renewal fee the Board sets. Each member must deposit seed money of no less than the Government's contribution.बीमा ऐन, २०४९ बमोजिम निर्जीवन बीमा व्यवसाय गर्न दर्ता भएका बीमकले अनुसूची–१ को ढाँचामा सञ्चालक समितिसमक्ष निवेदन दिएर कोषको सदस्यता लिन सक्छन्। सदस्यता एक आर्थिक वर्षका लागि मान्य हुन्छ र अवधि सकिएको एक महिनाभित्र समितिले तोकेको नवीकरण शुल्क बुझाई नवीकरण गर्नुपर्छ। प्रत्येक सदस्यले नेपाल सरकारको रकमभन्दा कम नहुने गरी बीउ रकम जम्मा गर्नुपर्छ। Nepal Law Commission Rules 3(2क) and 4(1)-(5), PDF pp. 3-4
- Members must pay the Fund the fee the Board sets for risk-group claims. If the Fund runs short, the Insurance Board may charge members an extra fee. The Board may cancel a membership if the insurer's licence is cancelled, it does not pay what it owes, or it breaks the regulation, but must first give it a fair chance to defend itself.सदस्य बीमकले जोखिम समूहको दाबीबापत सञ्चालक समितिले तोकेको शुल्क कोषमा बुझाउनुपर्छ। कोषको रकम नपुगेमा बीमा समितिले सदस्य बीमकलाई थप शुल्क लगाउन सक्छ। बीमकको इजाजतपत्र रद्द भएमा, बुझाउनुपर्ने रकम नबुझाएमा वा नियमावलीअनुसार गर्नुपर्ने काम नगरेमा समितिले सदस्यता खारेज गर्न सक्छ, तर त्यसअघि सफाइ पेस गर्ने उचित मौका दिनुपर्छ। Nepal Law Commission Rules 3(3), 5 and 6(1), PDF pp. 3-4
- A Board of Directors runs the Fund: a chair named by the Government, three insurer representatives nominated in proportion, and the Fund Manager as member-secretary. It must meet at least once every two months, and members serve three years. The Fund Manager needs a bachelor's degree, at least ten years' experience in insurance, reinsurance or claims, and must be aged 35 to 60.कोष सञ्चालक समितिले चलाउँछ। यसमा नेपाल सरकारले तोकेको अध्यक्ष, बीमकहरूको समानुपातिक प्रतिनिधित्व हुने गरी मनोनीत तीन जना र सदस्य–सचिवका रूपमा कोष प्रबन्धक रहन्छन्। दुई बैठकबीचको अन्तर दुई महिनाभन्दा बढी हुनु हुँदैन र सदस्यको पदावधि तीन वर्षको हुन्छ। कोष प्रबन्धकमा कम्तीमा स्नातक उपाधि, बीमा, पुनर्बीमा वा दाबीमा कम्तीमा दश वर्षको अनुभव र ३५ देखि ६० वर्षको उमेर चाहिन्छ। Nepal Law Commission Rules 9(1)-(3), 10(2) and 15(1), PDF pp. 5-8
- The Fund's money may be deposited in banks or, with Government approval, invested in bonds or savings certificates issued by the Government or Nepal Rastra Bank. Its accounts are audited by the Auditor General's office, and the Insurance Board monitors its work. If the Government dissolves the Fund, its assets are shared equally between the Government and member insurers, with members dividing their part by the seed money each put in.कोषको रकम बैङ्कको मुद्दती निक्षेपमा राख्न वा नेपाल सरकारको स्वीकृति लिई नेपाल सरकार वा नेपाल राष्ट्र बैङ्कले जारी गरेको ऋणपत्र, जमानतपत्र वा बचतपत्रमा लगानी गर्न सकिन्छ। कोषको लेखापरीक्षण महालेखा परीक्षकको विभागबाट हुन्छ र अनुगमन बीमा समितिले गर्छ। नेपाल सरकारले कोष विघटन गरेमा त्यसको सम्पत्तिमा सरकार र सदस्य बीमकको समान अधिकार हुन्छ र सदस्य बीमकले आफ्नो भाग लगानी गरेको बीउ रकमका आधारमा बाँडेर लिन्छन्। Nepal Law Commission Rules 8, 13(2), 17 and 19, PDF pp. 5, 8-10
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.