chhatramani/Nepal-Legal-Text-Corpus-44laws huggingface dataset:
Foreign Exchange (Regulation) Act 2019

Section 10A: Regulation of Investment Abroad
1
1) Notwithstanding anything contained in the prevailing law, the following companies or establishments established in Nepal shall be allowed to invest abroad:
(a) Industries exempted from investment abroad in the notification pursuant to Sub-section (2) of Section 3 of the Foreign Investment Prohibition Act, 2021,
(b) Industries classified as information technology industries pursuant to the prevailing law relating to industrial businesses,
(c) Amount of foreign currency received by a foreign investor pursuant to sub-section (2) of Section 7A of the Foreign Investment and Technology Transfer Act, 2075.
2) Under the employee share sale scheme operated or implemented by the foreign parent company of a company established in Nepal or any other subsidiary company of such parent company abroad, applicable to Nepali citizen employees residing in Nepal, such employees shall be allowed to acquire shares without remittance of convertible currency outside Nepal and earn income from such shares.
3) The conditions to be followed by a company or institution investing abroad, the sectoral maximum limit of such investment and other related provisions shall be as determined by the Nepal Rastra Bank by publishing a public notice.
1 Amended by the Act to Amend Certain Nepal Acts Relating to Economic and Business Environment Improvement and Investment Promotion, 2081.

Foreign Exchange (Regulation) Act 2019

Section 10B: Provisions Relating to Lending and Borrowing of Loans in Foreign Exchange
Except in accordance with the provisions of the prevailing law and the provisions specified by the Bank by publishing and broadcasting a public notice, no person shall lend or borrow a loan on a foreign exchange.
Foreign Exchange (Regulation) Act 2019

Section 10C: Provisions Relating to Repatriation, Investment of, and Transfer of Right in Foreign Exchange
1) A foreign investor who has permission to make an investment in securities in accordance with the prevailing law shall be entitled to repatriate or send the following amount in a foreign currency outside Nepal, in accordance with the procedures specified by the Bank by publishing and broadcasting a public notice:
(a) Investment made in the securities and profit, or dividend earned from the investment,
(b) Investment made in the form of a loan or loan facility and interest thereon.
2) If a citizen of Nepal residing outside Nepal obtains permission to make an investment in Nepal in foreign exchange, he or she shall be entitled to the facility as referred to in sub-section (1).
3) Such repatriation in the foreign exchange may be made or sent on the basis of the amount to be set by the price or value of the securities at the stock exchange, in the case of the enlisted securities, out of the securities as referred to in Clause (a) of sub-section (1), and on the basis of the property of the concerned body as determined in accordance with the procedures specified by the Bank by publishing and broadcasting a public notice, in the case of the securities not enlisted.
4) If payment of such tax or fee as required to be paid pursuant to the prevailing law is made in a foreign currency, any foreign person, firm, company or body may transfer the securities acquired by such a person, firm, company or body to any other foreign person, firm, company or body in accordance with the procedures set forth in the prevailing law.
5) Any foreign investor may repatriate or send abroad the amount of technological fees, royalties, etc., as mentioned in the agreement for the transfer of technology made by that investor pursuant to the prevailing law.
6) The procedures for repatriating or sending the amount in lieu of the sale of air ticket and cargo made by any licensed foreign airlines or their agents operating in Nepal or any Nepalese person, firm, company or body authorised to do that act within Nepal shall be as specified by the Bank by publishing and broadcasting a public notice.
7) Notwithstanding anything contained elsewhere in this Section, a person, firm, company or body that makes an investment in the Nepalese currency but does not earn foreign currency shall be entitled to receive or give payment in a foreign currency in accordance with this Section.
Foreign Exchange (Regulation) Act 2019

Section 11: Power to Demand Statements
1
1) ..
2) If the Government of Nepal or Bank is of the opinion that it is necessary or expedient to obtain or examine any statements, books of account or documents for the accomplishment of the objectives of this Act and that any person has such statements, books of account or documents or may obtain and submit the same, the Government of Nepal or Bank may order such a person to submit or obtain and submit the statements, books of account or documents to the Government of Nepal or Bank.
2
3) ….
1 Deleted by the Republic Strengthening and Some Nepal Laws Amendment Act, 2066.
2 Deleted by the Second Amendment.

Foreign Exchange (Regulation) Act 2019

Section 11A: Designation of Investigating Officer
The Government of Nepal may designate the investigating officer to inquire and investigate into the offences under this Act.

Foreign Exchange (Regulation) Act 2019

Section 11B: To Search for Suspicious Person
1) If there is adequate reason and ground to doubt that any person has any foreign exchange in contravention of this Act, the body of such a person may be searched for by an employee of at least Gazetted second class by the order of the investigating officer.
Provided that, the body of a woman shall be searched only by a woman.
2) If, in searching for a suspicious person, any foreign exchange or document pertaining thereto is found, such a foreign exchange and document may be taken into custody.
3) Any search to be made pursuant to this Section shall be made in the presence and with the witnesses of at least two local people. A statement of the foreign exchange and document pertaining to it found in the course of the search shall be prepared and caused to be signed also by the witnesses.

Foreign Exchange (Regulation) Act 2019

Section 11C: Power to Stop and Search Motor Vehicle
1) If there is adequate reason and ground to doubt that any motor vehicle has been used or is going to be used in committing any act in contravention of this Act or that any foreign exchange is concealed in the motor vehicle in a manner to be in contravention of this Act, the investigating officer may stop such a motor vehicle at any time or place.
2) Any part of the motor vehicle stopped according to sub-section (1) and goods contained therein may be searched or examined, and if, in so searching, any foreign exchange or document pertaining thereto is found, such a foreign exchange and document may be taken into custody.
Foreign Exchange (Regulation) Act 2019

Section 11D: Power to Search Building or Place of Transaction
1) If there is adequate reason and ground to believe that any foreign exchange is concealed or held in any building or place of transaction in contravention of this Act, the investigating officer may, by executing a memorandum to that effect, order a search of such a building or place of transaction.
2) In making a search pursuant to the order as referred to in Sub-section (1), an employee of at least a non-gazetted second class shall make the search.
3) The employee deputed to make a search in accordance with the order of the investigating officer shall give a notice, accompanied by the reason for making the search, to the persons living in the building or place of transaction to be searched at the moment. If the concerned does not receive such a notice, a copy of the notice shall be affixed to a conspicuous place of the building or place of transaction to be searched. After the notice has been attached, the concerned person shall be deemed to have received the notice of search.
4) After the notice has been given to the concerned person according to sub-section (3), the employee deputed to search shall be allowed to make the search of the building or place of transaction.
5) If the concerned person makes hindrance or obstruction in the making of a search, the employee deputed to make the search shall give notice and opportunity to the persons staying in the building or place of transaction to be searched to leave the building or place of transaction. If, despite such an opportunity, such people do not leave the building or place of transaction, the building or place of transaction to be searched for may be searched at any time by using necessary force and breaking or demolishing outer or inner doors, windows, doors or locks of the building or place of transaction to be searched for.
6) If, in so searching, any foreign exchange or document pertaining thereto is found in contravention of this Act, such a foreign exchange and document may be taken into custody.
7) When conducting a search according to this section, the search shall be conducted in the presence of a member of the rural municipality or municipality or at least two local dignitaries as witnesses. A statement of any foreign exchange or related documents found in violation of this Act during the search shall be prepared, and the signatures of the witnesses present shall be obtained.
Foreign Exchange (Regulation) Act 2019

Section 11E: Power to Arrest
1) If there is sufficient reason and basis to suspect that a person has committed or is about to commit any act in violation of this Act,
1
the investigating officer may apply to the court concerned for the issuance of an arrest warrant,
and after the issuance of the arrest warrant, such person may be arrested at any place.
2
However, if such person is not arrested immediately or if such person escapes or if there is reasonable cause for him to destroy evidence, documents or evidence or if a person who is absconding related to the offence is found or if he is in the act of committing the offence or if he is in the presence of the investigating officer, such person may be arrested immediately by issuing an urgent arrest warrant.
2) A person arrested according to sub-section (1) shall be produced before the competent authority within twenty-four hours, excluding the time of travel.
1 Amended by the Amendment, Consolidation, Adjustment and Repeal of Certain Nepal Laws Act, 2074.
2 Added by the Amendment, Consolidation, Adjustment and Repeal of Certain Nepal Laws Act, 2074.

Foreign Exchange (Regulation) Act 2019

Section 11F: Power to Hold in Detention
A person arrested under this Act may, with the leave of the Adjudicating Authority, be held in detention in the course of inquiry and investigation, for a period not exceeding thirty days and not more than seven days at a time.

Foreign Exchange (Regulation) Act 2019

Section 11G: Prohibition on Divulgence of Secrecy
The investigating officer or his or her subordinate employee shall not divulge the secrecy of any matter known to him or her in the capacity of his or her post or of any document submitted, in the course of carrying out action under this Act, except where the disclosure is required by the prevailing law.
Provided that, if the Adjudicating Authority is of the opinion that such matter or document is necessary for or may be evidence in another case and the secrecy of such matter or document is divulged by the order of that authority to the person authorised by law, secrecy shall not be deemed to have been divulged.

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 11I: To Give Receipt
In taking into custody of any foreign exchange or document pertaining thereto pursuant to this Act, a receipt indicating the details of the foreign exchange or document so taken into custody shall be immediately given to the person concerned.

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 11J: To Submit Report
The investigating officer shall submit a report of the acts and actions done and taken by him or her in accordance with this Act to the Government of Nepal each month.
Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 12: Power of Bank to Give Direction, Frame By-Law or Issue Order or Notice
Without prejudice to any directive given by the Government of Nepal under Section 15, the Bank may, in order to implement the matters set forth in this Act, issue directives, frame By-Laws, or issue orders or notices as required from time to time.

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 13: Prohibition on Entering into Contract in Contravention of the Objective of This Act
No person shall enter into any kind of contract or execute any document in such a manner as to be in contravention of any matter set forth in this Act or the Rules, By-laws, directives, orders or notices framed, given or made under this Act.
Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 14: Inspection
1) The Government of Nepal or the Bank may inspect, or cause to be inspected, the accounts, books and other documents of any licensee.
2) It shall be the duty of each licensee to submit all such accounts, books and documents relating to the foreign exchange transaction as are in his or her custody or control and as demanded by the employee designated to make inspection pursuant to sub-section (1) to the employee within the time-limit given by that employee and give all statements or information relating to such exchange transaction as demanded by him or her. If the licensee is a firm, company, or body, the director of the company, the concerned officer, partner, or office-bearer related to that business shall submit or provide such accounts, books, documents, statements, or information.
3) The employee designated to make inspection pursuant to sub-section (1) may inquire any licensee or his or her agent or the director or concerned officer of a licensee person, firm, company or body into the matter in writing or verbally.
4) If the director or officer of a licensee person, firm, company or body does not submit or give such accounts, books, documents, statements or information as required to be submitted or given pursuant to sub-section (2) or does not answer any question put by the employee designated to make inspection, such director or officer shall be deemed to have violated this Act.
5) If, in making inspection, the employee designated to make inspection pursuant to sub-section (1) finds any foreign exchange or documents, accounts, books or statements pertaining thereto in contravention of this Act, the employee may take such foreign exchange or documents, accounts, books or statements pertaining thereto in his or her custody or put the same in any safe or room and seal the safe or room.
6) In taking such a foreign exchange or document into his or her custody or making such seal, the employee designated to make inspection pursuant to sub-section (1) shall do so in witness of the concerned licensee or at least two other persons and prepare a statement of the things or matters taken into custody and cause the same to be signed by the witnesses.

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 15: Power of the Government of Nepal to Give Directives
The Government of Nepal may, if it so considers necessary for the purposes of this Act, give general or specific directives to the Bank from time to time, and the Bank shall abide by such directives for the performance of activities under this Act.
Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 16: Permission of the Bank to be Obtained to Open an Account
1) Any citizen of Nepal residing in Nepal or any company, body corporate or firm registered in Nepal shall obtain the permission of the Bank to open an account with a bank in a foreign country.
2) In giving permission to open an account pursuant to sub-section (1), the Bank may demand required statements and also specify terms and conditions.
3) The operation and use of the account opened pursuant to sub-section (1) shall be as specified by the Bank by publishing and broadcasting a public notice.
4) The matters relating to the opening, operation and use by any citizen of Nepal residing in Nepal or any company, body corporate or firm registered in Nepal of an account in foreign currency within Nepal shall be as specified by the Bank by publishing and broadcasting a public notice.
Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 18: Inquiry and Institution of Case
If any verbal or written information is received from the Government of Nepal or a person authorized by the Bank that any person has done any act in contravention of this Act or the Rules, By-laws, orders, notices or directions framed or issued under this Act, the government attorney or the officer authorized by the Government in this behalf shall inquire into the matter and institute a case against such a person if it is found upon making such inquiry that such a person has made such a violation and acted in contravention thereof.

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 18A: Filing of Case
1) The investigating officer shall, in the name of the Government of Nepal, file a case relating to the offence under this Act.
2) In filing a case pursuant to sub-section (1), the investigating officer shall consult the government attorney.

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 18B: Certification of Copy of Document Related to Foreign Exchange
1) The investigating officer shall make a copy or photocopy of the statement of the foreign exchange taken into custody in the course of the offence under this Act or statement pertaining thereto and certify the same.
2) Notwithstanding anything contained in the prevailing law, a copy or photocopy of the statement of the foreign exchange or statement pertaining thereto as certified pursuant to sub-section (1) may be produced as evidence in a case relating to the offence under this Act.

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 19: Document to be Void
If any contract or document is executed in violation of Section 13, such a contract or document may be voided by an order of the court trying the case under this Act.

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 20: Reward to be Provision of Information
1) If any person gives the Government of Nepal or the authority authorized by the Government of Nepal information that any person has done any act in contravention of this Act or the Rules, By-laws, orders, notices or directions or license framed or issued under this Act and the foreign exchange is seized and the offence proved on the basis of the information so given, Twenty percent of the amount in question set by converting such seized foreign exchange into the Nepalese currency shall be given as a reward to such an informant.
2) The amount of reward to be given pursuant to Sub-section (1) shall be provided from the amount to be set by converting such seized foreign exchange into the Nepalese currency after the final settlement of the case.
Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 21: Claim or Complaint Not to Lie
1) No case, complaint or legal action of any kind shall be instituted in any court against any person for any act done or purported to be done by that person in good faith in accordance with this Act or the Rules, By-laws, orders, notices or directions framed or issued under this Act.
2) No claim of any kind may be made for any loss or damage to any person as a result of the non-provision of the foreign exchange by the Government of Nepal, the Bank, or a licensee to that person (except for knowingly or recklessly).

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 22: Power to Frame Rules
The Government of Nepal may, in consultation with the Bank, frame Rules for implementing the objectives of this Act.

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 23: Repeal
The Foreign Exchange Conversion Control Act, 2017, is hereby repealed.

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 24: Existing Licenses
Unless and until otherwise ordered by the Bank, the licenses issued under the Foreign Exchange Conversion Control Act, 2017 shall, except as cancelled earlier, be deemed to have been issued under Section 3 of this Act on such terms and for such period as specified in those licenses.

Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Section 25: …
1

1 Deleted by the Some Nepal Acts Amendment, Repeal and Continuance Through Rearrangements Act, 2019.
Foreign Exchange (Regulation) Act 2019

Section 11H: To Safely Foreign Exchange and Document Taken into Custody

Place and date of commencement of the remaining Sections of the Foreign Exchange (Regulation) Act, 2019
(a) Commencement on 2020.5.1 (Date of Nepal Gazette 2020.4.22) in Kathmandu, Bhadrapur, Biratnagar, Rajbiraj, Hanumannagar, Janakpur, Malanguwa, Gaur, Kalaiya, Birjung, Butwal, Bhairahawa, Parasi, Paklihawa, Krishnanagar, Shivaraj, Nepalgunj, Dhangadhi, Pokhara, Tansen, Palpa and Dharan areas.
(b) Commencement on 2020.11.1 (Date of Nepal Gazette 2020.10.27) in Jaleshwor, Taulihawa and Siraha areas.
(c) Commencement on 2021.5.1 (Date of Nepal Gazette 2021.4.27) in Hetauda, Banepa, Dhankuta, Trishuli and Baglung areas.
(d) Commencement on 2021.2.1 (Date of Nepal Gazette 2021.2.1) in Ilam, Koilabas, Kanchanpur (Mahendranagar), Gularia, Bhojpur, Ghorahi and Sarlahi areas.
(e) Commencement on 2022.7.1 (Date of Nepal Gazette 2022.6.11) in Doti district.
(f) Commencement on 2022.11.1 (Date of Nepal Gazette 2022.9.26) in Baitadi district.
(g) Commencement on 2023.6.1 (Date of Nepal Gazette 2023.5.31) in Bagmati, Narayani, Janakpur, Sagarmatha, Koshi and Mechi Zones.
(h) Commencement on 2023.7.1 (Date of Nepal Gazette 2023.7.1) in Gandaki, Karnali, Dhawalagiri, Bheri, Lumbini, Seti, Rapti and Mahakali Zones.
Note:
1) Words substituted by the Foreign Exchange (Regulation) (Second Amendment) Act, 2058:
“Securities” instead of “Dhitopatra”.
2) Words substituted by the Certain Nepal Laws Amendment Act, 2063:
“Government of Shree 5” instead of “Government of Nepal”.
विदेशी विनिमय (नियमित गर्ने) ऐन, २०१९

प्रस्तावना
२०१९ सालको ऐन नं. ५
विदेशी विनिमय सम्बन्धी बारोबार नियमित गर्न बनेको ऐन
प्रस्तावनाः सर्वसाधारण जनताका आर्थिक हित कायम राख्न विदेशी विनिमय सम्बन्धी कारोबारलाई अझ बढी मात्रामा नियमित गर्न वाञ्छनीय भएकाले,
श्री ५ महाराजाधिराज महेन्द्र वीर विक्रम शाहदेवबाट नेपालको संविधानको धारा ९३ अनुसार यो ऐन बनाइबक्सेको छ।

विदेशी विनिमय (नियमित गर्ने) ऐन, २०१९

दफा १: संक्षिप्त नाम, विस्तार र प्रारम्भ
१) यो ऐनको नाम “विदेशी विनिमय (नियमित गर्ने) ऐन, २०१९” रहेको छ।
२) यो ऐन नेपाल
१
………….भर लागू हुनेछ र नेपाल
१
……….. बाहिर बसोबास गर्ने सबै नेपाली नागरिक तथा नेपाल
१
……… मा दर्ता भई नेपाल
१
………. बाहिर रहेका फर्म, कम्पनी, संस्था तथा त्यस्ता फर्म, कम्पनी वा संस्थाका शाखा कार्यालय तथा एजेन्सीहरू समेतलाई लागू हुनेछ ।
३) यो दफा तुरून्त प्रारम्भ हुनेछ र अरू दफाहरू नेपाल सरकारले समयसमयमा नेपाल राजपत्रमा सूचना प्रकाशित गरी तोकिदिएका क्षेत्रमा सोही सूचनामा तोकिएको मितिदेखि प्रारम्भ हुनेछ।
१. पहिलो संशोधनद्वारा संशोधन भई दोस्रो संशोधनद्वारा पुनः संशोधित ।