Public-Private Partnership and Investment Act, 2019

Chapter-1

Preliminary

1. Short Title and Commencement: (1) This Act may be called the "Public-Private Partnership and Investment Act, 2075".

(2) This Act shall come into force immediately. 2. Definitions: Unless the subject or context otherwise requires, in this Act,-

(a) "Monitoring and Facilitation Committee" means the Monitoring and Facilitation Committee pursuant to Section 9.

(b) "Permit" means the permit or license granted to implement a project under public-private partnership pursuant to Section 31 and under private investment pursuant to Section 35.

(c) "Permit Holder" means a firm, company or person who has obtained a permit or license to implement a project.

(d) "Consumer" means a person or entity who consumes or uses services or facilities from the infrastructure constructed under public-private partnership or private investment pursuant to this Act.

(e) "Single Point Service Center" means the Single Point Service Center pursuant to Section 46.

(f) "Office" means the Office pursuant to Section 10.

(g) "Fund" means the Fund pursuant to Section 57.

(h) "Board" means the Investment Board pursuant to Section 5.

(i) "Project" means a project relating to infrastructure to be implemented by making investment under public-private partnership pursuant to this Act, and said term also denotes a project to be implemented under private investment.

(j) "Infrastructure" means roads, tunnel ways, bridges, canals, reservoirs, dams, drainage, cable cars, railways, tramways, metro rail, mono rail, sky rail, trolley buses, bus rapid transit, dry ports, waterway transport terminals, airports, hospitals, cold storage, warehouses, public auditoriums, stadiums, generation, transmission and distribution of renewable energy including hydroelectric, biological, gas, solar, thermal and geothermal energy, exhibition centers, amusement parks, waste treatment and management plants, communication and information technology, financial market infrastructure, special economic and industrial zones, agricultural sector, education sector, hotel or tourism sector related infrastructure, and said term also denotes other infrastructure of a similar nature.

(k) "Chief Executive Officer" means the Chief Executive Officer of the Board appointed pursuant to Section 12.

(l) "Tariff" means the service fee charged by the permit holder from the consumer for providing services or facilities.

(m) "Construction" means the work of development, construction or rehabilitation of infrastructure.

(n) "Prescribed" or "as prescribed" means prescribed or as prescribed in the Rules framed under this Act.

(o) "Private Investment" means investment made pursuant to Section 32.

(p) "Investment" means the capital flow made in a project through debt or equity or reinvestment or similar types of financial instruments pursuant to this Act.

(q) "Investor" means a firm, company or person who has invested or expressed willingness to invest in a project pursuant to this Act, and said term also denotes a firm, company or person who studies, develops, constructs or operates a project.

(r) "Member" means a member of the Board pursuant to Section 5, and said term also denotes the Chairperson and Vice-Chairperson of the Board.

(s) "Agreement" means the Project Development Agreement, Project Investment Agreement or Concession Agreement or other similar types of agreements entered into between the Government of Nepal, Provincial Government, Local Level or the Board and the investor for implementing a project.

(t) "Concerned Body" means the Board, Government of Nepal, Provincial Government and Local Level or subordinate public bodies implementing and facilitating a project.

(u) "Survey" means the preliminary study, feasibility study, environmental study, detailed feasibility study and detailed project report or other similar types of research or exploration work carried out for implementing a project.

(v) "Public Entity" means an office of the Government of Nepal, Provincial Government or Local Level, an institution or company wholly or substantially owned or controlled by the Government of Nepal or Provincial Government, or other organized institution established at the public level pursuant to prevailing law, or a public institution designated as a Public Entity by the Government of Nepal by publishing a notice in the Nepal Gazette.

(w) "Public-Private Partnership" means the arrangement for implementing a project through any of the methods mentioned in Sub-section (2) of Section 17 for constructing, operating, rehabilitating infrastructure or providing public service in mutual cooperation between the concerned Public Entity and the investor, involving sharing of resources or returns and bearing of risks.

(x) "Public-Private Partnership Directorate" means the Public-Private Partnership Directorate pursuant to Section 14.

(y) "Local Level" means a Rural Municipality or Municipality.