chhatramani/nepal_legal_acts_corpus_english huggingface dataset:
National Parks and Wildlife Conservation Act, 1973

4. Restriction on Entry into National Park: (1) No person shall enter a Amended by the Second Amendment. National Park or Reserve without an entry permit as prescribed or written permission from the authorized officer. Provided that this sub-section shall not apply to a government employee on duty or a person Amended by the Second Amendment. with a right of way prevalent within a National Park or Reserve.

(2) The format, type, fee and other conditions of the entry permit pursuant to sub-section (1) shall be as prescribed. Amended by the Fifth Amendment.5. Prohibited Activities within National Park or Reserve: (1) No person shall, without written permission from the authorized officer, do the following acts within a National Park or Reserve:-

(a) To hunt wildlife or transport trophies,

(b) To build or occupy any house, hut, shelter or other structure of any material,

(c) To occupy, clear, settle, cultivate or grow or harvest any crop on any land,

(d) To graze or water domesticated animals or birds,

(e) To cut, fell, remove, obstruct trees, plants, bushes or any other forest products, or do any act causing them to dry, or to set fire or otherwise cause damage or loss to forest products, or transport forest products,

(f) To dig mines, quarry stones or remove any mineral substance, stones, gravel, soil or other similar substances,

(g) To cause damage to forest products or wildlife, birds or land,

(h) To carry or use weapons, ammunition or poison,

(i) To carry domesticated or other kinds of animals or trophies, except government employees on duty or travelers on prevalent routes within the National Park or Reserve, and

(j) To dam, divert or use any harmful or explosive substances in rivers, streams or any water source flowing within the National Park or Reserve.

(2) Notwithstanding anything contained in sub-section (1), permission shall be granted to local people as prescribed to use traditionally enjoyed facilities such as right of way, indigenous grazing, drinking water, irrigation and embankment, and to collect traditionally collected wild vegetables and tubers and to fish, in parks or reserves according to their nature in a manner that does not adversely affect the environment, forest or wildlife.

(3) If any family in a Buffer Zone faces a disaster and requires forest products, and if forest products collected pursuant to sub-section (6) of Section 3b from any location within the Buffer Zone are insufficient, the Conservator shall, in consultation with the Consumer Committee, grant permission as prescribed to collect such forest products from any location within the National Park or Reserve. Added by the Some Nepal Acts Amendment Act Relating to Investment Facilitation, 2081.5a.
National Parks and Wildlife Conservation Act, 1973

Added by the Some Nepal Acts Amendment Act Relating to Investment Facilitation, 2081.5a. May specify Highly Sensitive Area: The Government of Nepal may, if it deems necessary, specify any area within a National Park, Reserve or Conservation Area as a Highly Sensitive Area by publishing a notification in the Nepal Gazette. 6. Amended by the Fourth Amendment.Operation of Services within National Park or Reserve: (1) Amended by the Fourth Amendment.For the paramount interest of a National Park, Reserve or Conservation Area, the Government of Nepal may itself, or by adopting prescribed procedures, make contracts with any person to arrange hotels, lodges, public transport or other services or facilities of similar nature. Added by the Some Nepal Acts Amendment Act Relating to Investment Facilitation, 2081.(1a) Except for the area specified pursuant to Section 5a, the Government of Nepal may grant approval as prescribed to operate nationally prioritized projects, projects approved by the Investment Board, or projects of national pride in any area within a National Park, Reserve or Conservation Area or in a Buffer Zone, in a manner that maintains coexistence between nature and humans. The Federation, Province and Local Level may operate projects to be constructed in the Buffer Zone, and with the approval of the concerned authority, ecotourism and other industries and businesses may be allowed to operate.

(2) No person shall operate any kind of service or facility within a Amended by the Fourth Amendment. National Park or Reserve or Conservation Area without a contract pursuant to sub-section (1). Added by the Fifth Amendment.6a. May carry out maintenance: Any person, body, Consumer Committee or Amended by the Some Nepal Acts Amendment Act, 2072. Local Level may, with the consent of the Ministry of Forests and Land Conservation, carry out maintenance works of religious, historical, cultural or archaeological sites located within a National Park, Reserve, Conservation Area or Buffer Zone, without altering the basic structure. 7. Repealed by the Second Amendment. 8. Repealed by the Second Amendment. 9. Entry into National Park or Reserve at Own Risk: (1) Entry into a National Park or Reserve shall be at one's own risk.

(2) In case of death, loss or damage, or injury to any person within a National Park or Reserve, the Government of Nepal shall not be liable for compensation for such death, loss, damage or injury. 10. Protected Wildlife: The wildlife mentioned in Schedule-1 of this Act shall be considered protected wildlife and hunting of them is prohibited.
National Parks and Wildlife Conservation Act, 1973

10. Protected Wildlife: The wildlife mentioned in Schedule-1 of this Act shall be considered protected wildlife and hunting of them is prohibited. Amended by the Second Amendment.Provided that–

(a) Mad wild elephants, man-eating tigers, and wildlife that are incurably diseased or disabled may be killed or captured by order of the prescribed officer.

(b) If it is determined that wildlife coming outside the forest area and causing great damage to humans or domesticated animals or birds needs to be killed, such wildlife may be killed, captured or chased away by order of the prescribed officer. 11. Hunting without License Prohibited: Amended by the Second Amendment.(1) No person shall hunt wildlife without obtaining a license. Provided that a license shall not be required to hunt prescribed wildlife.

(2) A person desiring to obtain a license pursuant to sub-section (1) shall submit an application to the prescribed officer in the prescribed format, and upon receipt of such application, the prescribed officer shall, upon payment of prescribed fees, issue a license of the prescribed format and type Amended by the Second Amendment. to hunt wildlife.

(3) A person obtaining a license pursuant to sub-section (2) shall hunt subject to the conditions and methods as prescribed.

(4) The prescribed officer may refuse to issue a license pursuant to sub-section (2) with or without assigning any reason. 12. Annual Quota for Hunting to be Determined: Based on periodic wildlife censuses, the prescribed officer shall determine the annual quota of wildlife to be hunted throughout the year in a Hunting Reserve. 13. Government of Nepal may revoke license: The Government of Nepal may, if it deems necessary, at any time revoke a license granted pursuant to Section 11 with or without assigning any reason. 14. Closed Season: The Government of Nepal may specify a closed season for hunting in an area specified by notification published in the Nepal Gazette, for the period specified in such notification. 15. License Required to Collect Specimens: (1) No person shall, without obtaining a license, collect specimens from a Amended by the Second Amendment. National Park, Reserve or other wildlife habitat for scientific research.

(2) A person desiring to obtain a license pursuant to sub-section (1) shall submit an application in the prescribed format to the prescribed officer.

(3) Upon receipt of an application pursuant to sub-section (2), the prescribed officer may, upon payment of prescribed fees, issue a license subject to conditions as prescribed to hunt any wildlife except those mentioned in Schedule-1, or to collect any insects, organisms, fish or any natural products. Added by the Fifth Amendment.15a.
National Parks and Wildlife Conservation Act, 1973

Added by the Fifth Amendment.15a. Study, Research, Breeding and Rearing of Wildlife: (1) A person or institution desiring to study, research or commercially breed and rear wildlife with the aim of supporting the conservation, promotion and sustainable use of wildlife shall obtain permission as prescribed.

(2) Seed animals required for breeding and rearing wildlife pursuant to sub-section (1) may be provided as prescribed.

(3) Wildlife produced commercially or their parts or objects made from their parts, after obtaining permission pursuant to sub-section (1), may be used, sold, distributed or exported as prescribed.

(4) Notwithstanding anything contained in sub-section (3), wildlife as prescribed shall not be transported from one place to another within Nepal, or exported to any country, or imported from any country, except in circumstances as prescribed. Added by the Fifth Amendment.15b. Wildlife may be provided for Research or Educational Exhibition: (1) If a renowned domestic or foreign association or institution conducting scientific study, research or educational exhibition of wildlife submits an application requesting any wildlife for the purpose of study, research or educational exhibition, along with a written commitment to contribute to the conservation, promotion and development of National Parks, Reserves, Conservation Areas or Buffer Zones and wildlife of Nepal, the Government of Nepal may provide wildlife to such institution for such purpose.

(2) While providing any wildlife for study or research pursuant to sub-section (1), if the Government of Nepal considers that the results obtained from such study or research will also be useful for Nepal, it may provide such wildlife on condition that such results shall also be made available to Nepal.

(3) The fees, conditions to be complied with, and other arrangements for providing wildlife pursuant to sub-section (1) shall be as prescribed. Added by the Fifth Amendment.15c. Zoo, Wildlife Rescue Centre and Wildlife Hospital may be established: (1) Any institution, body or Local Level may operate a zoo by obtaining a license as prescribed for the purposes of conservation education, recreation, breeding, genetic resource conservation, study and research.

(2) Any person, institution or Local Level may establish a Wildlife Rescue Centre and Wildlife Hospital for the conservation and management of orphaned, helpless, problematic and rescued wildlife.

(3) Other arrangements relating to the establishment and operation of zoos, Wildlife Rescue Centres and Wildlife Hospitals pursuant to sub-sections (1) and (2) shall be as prescribed. Added by the Fifth Amendment.15d.
National Parks and Wildlife Conservation Act, 1973

Added by the Fifth Amendment.15d. Conservation and Promotion of Biological Corridor: (1) The Government of Nepal may, if it deems necessary, declare any area outside a National Park, Reserve, Conservation Area or Buffer Zone as a Biological Corridor and, after consultation with the concerned Consumer Committee, make arrangements for its conservation and promotion.

(2) Other arrangements relating to the conservation and promotion of a Biological Corridor shall be as prescribed. Added by the Fifth Amendment.15e. Wildlife may be provided to Foreign Countries: (1) If the government of any foreign country requests wildlife located in Nepal subject to prescribed conditions, the Government of Nepal may, if it deems appropriate from the perspective of conservation and management, provide such wildlife after completing the prescribed procedures.

(2) The Ministry of Forests and Land Conservation shall submit an annual report of wildlife provided pursuant to sub-section (1) to the concerned committee of the Federal Parliament within three months of the end of each fiscal year. 16. Management of National Park or Reserve: If necessary for the proper management of a National Park or Reserve, the prescribed officer may carry out hunting, removal of any natural products or other similar necessary activities within the National Park or Reserve. Added by the Fifth Amendment.16a. Forest Products and Other Services may be provided: The prescribed officer may provide prescribed forest products or other services within a National Park or Reserve upon payment of prescribed fees. Amended by the National Parks and Wildlife Conservation (Fifth Amendment) Ordinance, 2062 and automatically revived by the Some Nepal Acts Revival Act, 2063.16b. Management of Conservation Area: The Government of Nepal may, by notification published in the Nepal Gazette, entrust the management of any Conservation Area declared pursuant to sub-section (1) of Section 3 to an institution established with the aim of conserving nature and natural heritage, for the period specified in such notification. Added by the Fourth Amendment.16c. Consumer Committee: (1) To manage fallen trees, dry wood, firewood and grass within a National Park, Reserve, Conservation Area or Buffer Zone, the concerned Conservator may form a Consumer Committee in coordination with the Amended by the Some Nepal Acts Amendment Act, 2072. Local Level.

(2) Except as mentioned in sub-section (1), other functions, duties and powers of the Consumer Committee shall be as prescribed. 17.
National Parks and Wildlife Conservation Act, 1973

Local Level.

(2) Except as mentioned in sub-section (1), other functions, duties and powers of the Consumer Committee shall be as prescribed. 17. Trophy to be Submitted to the License Issuing Officer: (1) A person obtaining a trophy according to the license obtained shall submit such trophy to the license issuing officer or the officer designated by him within twenty-four hours, excluding travel time, from the time of obtaining such trophy.

(2) If the license issuing officer is satisfied that the trophy submitted pursuant to sub-section (1) has been obtained according to the license, he shall record it and, with a certificate as prescribed, return the entire body or parts of such wildlife to the person submitting it. Provided that if the license was granted on condition that the entire body or parts of the hunted wildlife belong to the Government of Nepal, it shall be according to that condition. 18. Trophy not to be Kept without Certificate: (1) A person who has obtained a trophy before the commencement of this Act shall Amended by the First Amendment. submit such trophy to the prescribed officer within the prescribed time limit and keep it after obtaining a certificate as prescribed.

(2) A trophy kept without obtaining a certificate pursuant to sub-section (1) or sub-section (2) of Section 17 may be confiscated by the Government of Nepal. Amended by the Second Amendment.19. Sale, Distribution or Business of Trophy without License Prohibited: (1) No person shall sell, distribute or transfer in any manner any trophy, or carry on any business relating to trophies, without a license from the prescribed officer.

(2) A person who has purchased from a person licensed pursuant to sub-section (1) or has acquired title through transfer of rights shall register such trophy with the prescribed officer within the prescribed time limit and keep it after obtaining a certificate of ownership. 20. Recommendation Required for Export or Import of Trophy: A person desiring to export any trophy from Nepal Deleted by the Republic Strengthening and Some Nepal Laws Amendment Act, 2066 to a foreign country, or to import any trophy from a foreign country into Nepal Deleted by the Republic Strengthening and Some Nepal Laws Amendment Act, 2066 , according to prevailing Nepali law, shall obtain written recommendation from the Ministry of Forests and Environment, Amended by the Some Nepal Acts Amendment Act to Make Conformable with the Constitution of Nepal, 2075. Government of Nepal. Added by the Fifth Amendment.20a.
National Parks and Wildlife Conservation Act, 1973

Government of Nepal. Added by the Fifth Amendment.20a. Trophy may be allowed to use or destroyed: (1) The Government of Nepal may allow trophies collected from wildlife that died due to natural or other causes, or confiscated according to prevailing law, to be used for educational or research purposes by educational or research institutions.

(2) Trophies collected or confiscated pursuant to sub-section (1) may be kept for display in a Natural Science Museum.

(3) Notwithstanding anything contained in sub-section (1) or (2), the Government of Nepal may destroy trophies that are not considered useful or necessary for conservation.

(4) Other arrangements relating to allowing the use or destruction of trophies pursuant to this section shall be as prescribed. 21. Acts Necessary for Self-Defense Permitted: (1) For the protection of oneself or any other person or domesticated animal, if there is no other alternative against an actual and imminent attack by any wildlife, weapons may be used or any other measures may be taken, and if any wildlife dies or is injured as a result, it shall not be deemed an offense under this Act.

(2) If any wildlife dies or is injured pursuant to sub-section (1), information thereof shall be given to the prescribed officer within twenty-four hours, excluding travel time.

(3) A person acting contrary to this Act or the rules made under this Act shall not be entitled to the facility under sub-section (1). 22. Boundary Marks not to be Damaged: No person shall destroy, damage, disfigure, remove or otherwise obstruct boundary marks, fences, walls, signposts or notices of a Amended by the Fourth Amendment. National Park, Reserve, Conservation Area or Buffer Zone. 23. Power of Inspection and Search: If there is reasonable cause to believe that any person has done any act contrary to this Act, the prescribed officer may, upon obtaining a warrant from the prescribed officer, enter and search the house, land, premises and all types of vehicles of such person at any time, as necessary to seize evidence of such act or to arrest such person. Provided that, if obtaining a warrant to enter and search any house, land, premises or vehicle, or to arrest any offender, would take some time, and within that time the offender might escape or the evidence of the offense might be destroyed, the prescribed officer may also enter and search such house, land, premises or vehicle upon making a written record of such fact. Explanation: When entering and searching without a warrant under this section, an officer of a rank lower than the rank specified in Section 30 shall not do so.
National Parks and Wildlife Conservation Act, 1973

Explanation: When entering and searching without a warrant under this section, an officer of a rank lower than the rank specified in Section 30 shall not do so. Also, when entering or searching

(Continued)
without a warrant, if the offender is not arrested or evidence not recovered, the officer conducting the entry or search shall give a certificate of having conducted the entry or search to the person concerned with the entry or search, and shall also give written notice to the prescribed officer within fifteen days of the date of such entry or search, disclosing the reasons for such entry or search. Amended by the Some Nepal Laws Amendment, Consolidation, Adjustment and Repeal Act, 2074.24. Power to Arrest: (1) If any person needs to be arrested in the course of investigation of any offense under this Act, the investigating officer shall submit an application to the adjudicating officer for permission to arrest, along with the reason therefor and particulars identifying such person.

(2) If the reason for arrest appears reasonable from the application pursuant to sub-section (1), the adjudicating officer may grant permission to issue an arrest warrant.

(3) A person for whom an arrest warrant has been issued pursuant to sub-section (2) shall be arrested by the Amended by the Some Nepal Acts Amendment Act Relating to the Civil Code, 2075. security personnel or employees of the Park or Reserve, and produced before the adjudicating officer within twenty-four hours, excluding travel time.

(4) Notwithstanding anything contained in sub-section (1), if there is reasonable cause that such person would flee, escape or destroy evidence or proof if not arrested immediately, or if a person absconding in connection with an offense is found, or if a person is found committing an offense, the Amended by the Some Nepal Acts Amendment Act Relating to the Civil Code, 2075. authorized officer shall immediately issue an emergency arrest warrant, arrest such person, and produce him along with the arrested person before the adjudicating officer for approval.

(5) If, during or after arrest pursuant to sub-sections (3) and (4), the offender or his accomplice creates a disturbance to prevent capture or to help escape, or there is a situation where escape is likely or the life of the arresting person is at risk, and there is no option but to use weapons, the employee going to make the arrest may fire aiming as far as possible below the knee. If death occurs as a result of firing in such manner, no liability shall attach. Added by the Fifth Amendment.24a.
National Parks and Wildlife Conservation Act, 1973

If death occurs as a result of firing in such manner, no liability shall attach. Added by the Fifth Amendment.24a. Provisions Relating to Extension of Period: (1) A person arrested under this Act shall be produced before the adjudicating officer for legal proceedings within twenty-four hours, excluding travel time.

(2) If the investigation regarding a person arrested pursuant to sub-section (1) cannot be completed within twenty-four hours and it appears necessary to keep him in custody and continue the investigation, the investigating employee shall produce him before the adjudicating officer and may keep him in custody only with the permission of the adjudicating officer. While requesting permission accordingly, the accusation against the person in custody, the basis thereof, the reason for needing to investigate while keeping him in custody, and if his statement has been recorded, the substance of the statement shall be clearly mentioned.

(3) If permission to keep in custody is requested pursuant to sub-section (2), the adjudicating officer shall, upon examining the relevant documents, consider whether the investigation has been carried out satisfactorily, and if it appears that the investigation is proceeding satisfactorily, may grant permission to keep in custody for a maximum of forty-five days, at one time or from time to time. Amended by the Second Amendment.25. Reward to be given: Amended by the Fourth Amendment.(1) A person who provides information leading to the arrest of a person who kills or injures a rhinoceros, tiger, elephant, musk deer, clouded leopard, snow leopard or gaur may be given a cash reward of up to fifty thousand rupees, and a person who provides information leading to the arrest of a person who kills or injures other protected wildlife besides the above-mentioned wildlife may be given a cash reward of up to twenty-five thousand rupees.

(2) If a person who provides information leading to the arrest of a person illegally possessing any trophy, or who arrests such person, and such trophy is confiscated and sold by auction, such person may be given fifty percent of the proceeds from the auction sale, or if the trophy cannot be auctioned from the perspective of wildlife conservation, a reward of up to ten thousand rupees considering the condition, importance and quantity of such trophy.

(3) Except as mentioned in sub-sections (1) and (2), a person who provides information leading to the arrest of an accused who has committed an offense under this Act may be given a reward of up to one thousand rupees. Added by the Fourth Amendment.25a.
National Parks and Wildlife Conservation Act, 1973

Added by the Fourth Amendment.25a. Expenditure for Local Development: From the revenue earned by a National Park, Reserve or Conservation Area, thirty to fifty percent of the amount may be spent Amended by the Some Nepal Acts Amendment Act, 2072. on the community development of local people in coordination with the Local Level. Amended by the Second Amendment.26. Punishment: Amended by the Fourth Amendment.(1) A person who illegally kills, injures, purchases, sells or transfers a rhinoceros, tiger, elephant, musk deer, clouded leopard, snow leopard or gaur, or who possesses, Amended by the Fifth Amendment. purchases, sells or transports a rhino horn, musk pod, snow leopard skin or trophies of other protected wildlife, shall be liable to a fine of Amended by the Fifth Amendment. five hundred thousand rupees to one million rupees or imprisonment for five to fifteen years or both. Added by the Some Nepal Laws Amendment, Consolidation, Adjustment and Repeal Act, 2074.(1a) A person who encroaches upon or occupies any National Park, Wildlife Reserve, Hunting Reserve or Conservation Area in any manner, or sells it, or causes any harm, loss or damage to its natural formation or beauty, shall be liable to imprisonment for up to ten years or a fine of up to one million rupees or both. Amended by the Fourth Amendment.(2) A person who kills or injures wildlife other than those mentioned in sub-section (1) that are protected shall be liable to a fine of Amended by the Fifth Amendment. one hundred thousand rupees to five hundred thousand rupees or imprisonment for one to ten years or both. Amended by the Some Nepal Acts Amendment Act, 2072.(3) A person who hunts and kills or injures wildlife other than birds and fish within a National Park, Strict Natural Reserve, Wildlife Reserve, Conservation Area or Buffer Zone without a license shall be liable to a fine of twenty thousand to fifty thousand rupees or imprisonment for six months to one year or both. Amended by the Some Nepal Acts Amendment Act, 2072.(4) A person who hunts and kills or injures a protected bird shall be liable to a fine of Amended by the Some Nepal Acts Amendment Act, 2082. twenty thousand to fifty thousand rupees or imprisonment for six months to one year or both. Amended by the Some Nepal Acts Amendment Act, 2072.(5) A person who hunts and kills or injures birds other than protected birds within a National Park, Strict Natural Reserve, Wildlife Reserve, Conservation Area or Buffer Zone without a license shall be liable to a fine of Amended by the Some Nepal Acts Amendment Act, 2082. fifteen thousand to thirty thousand rupees or imprisonment for three to nine months or both.
National Parks and Wildlife Conservation Act, 1973

Added by the Fifth Amendment.(5a) A person committing an offense under clause (b) of sub-section (1) of Section 5 shall be liable to a fine of twenty thousand to fifty thousand rupees or imprisonment for up to one year or both. If forest products have been removed or damaged while committing such offense, additional punishment for that shall also be imposed. Added by the Fifth Amendment.(5b) A person committing an offense under clause (e), (f) or (g) of Section 5 shall be liable to punishment as follows:-

(a) If the loss is up to one thousand rupees, a fine equal to the loss,

(b) If the loss is from one thousand to ten thousand rupees, a fine equal to the loss or imprisonment for up to six months or both,

(c) If the loss exceeds ten thousand rupees, a double fine of the loss or imprisonment for up to one year or both. Added by the Fifth Amendment.(5c) If any person rears or breeds wildlife or operates a zoo without obtaining a license under this Act, such person shall be liable to imprisonment for up to six months or a fine of up to fifty thousand rupees or both. Added by the Fifth Amendment.(5d) If any person attempts to commit any offense under this Act, such person shall, if the attempt is for an offense relating to protected wildlife, be liable to the same punishment as the offender, and if the attempt is for an offense relating to other wildlife, be liable to
Foreign Investment and Technology Transfer Act, 2019

Foreign Investment and Technology Transfer Act, 2075

Certification and Publication Date
2075.12.13

Amending Acts

1. Act to Amend Some Acts relating to Prevention of Money Laundering and Promotion of Business Environment, 2080 2080.12.30
2. Act to Amend Some Nepal Acts relating to Investment Facilitation, 2081 2081.03.24
3. Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081 2081.12.18

Act Number 34 of the Year 2075

An Act Made to Amend and Consolidate Laws relating to Foreign Investment and Technology Transfer

Preamble: Whereas, it is expedient to amend and consolidate the prevailing Nepal laws relating to foreign investment and technology transfer to achieve sustainable economic growth through industrialization by creating an investment-friendly environment, attracting foreign capital, technology and investment in the sectors of import substitution, export promotion and infrastructure development and production of goods or services, making the national economy competitive, robust and employment-oriented, and enhancing productivity by maximizing the mobilization of available resources for the economic prosperity of the country,

Be it enacted by the Federal Parliament. Chapter-1
Preliminary

1. Short Title and Commencement: (1) This Act may be cited as the "Foreign Investment and Technology Transfer Act, 2075".

(2) Sections 10 and 11 of this Act shall come into force from the date notified by the Government of Nepal by a notice published in the Nepal Gazette, and other sections shall come into force immediately. 2.
Foreign Investment and Technology Transfer Act, 2019

Chapter-2
Foreign Investment

3. Persons who may make Foreign Investment: (1) A foreign investor may make foreign investment in any industry, except the industries specified in Inserted by the Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081.the Schedule, and may obtain benefits from such investment.

(2) Omitted by the Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081 An industry operated with foreign investment in an industry specified in the Schedule shall not make foreign investment from the profit earned or through any other means. Provided that, technology transfer may be made in industries established with Nepali investment specified in the Schedule with the approval of the Department.

(3) Notwithstanding anything contained in Sub-section (1), approval shall not be granted for making foreign investment of an amount less than that prescribed by the Government of Nepal by a notice published in the Nepal Gazette in any industry, Inserted by the Act to Amend Some Acts relating to Prevention of Money Laundering and Promotion of Business Environment, 2080.and while so prescribing the investment limit, the limit of the amount to be invested by Non-Resident Nepalis and other foreign investors may be prescribed differently. 4. Foreign Investment may be made Solely or Jointly: A foreign investor may make foreign investment by establishing an industry solely, jointly, or jointly with an industry established in Nepal or a Nepali citizen. 5. Foreign Investment may be made by Purchasing Assets or Shares of an Industry: A foreign investor may make foreign investment by purchasing the assets or shares, up to the prescribed percentage, of any industry established in Nepal. 6. Lease Investment may be made: A foreign investor may make lease investment in aircraft, ships, machinery, tools, construction equipment or other similar equipment, subject to the prescribed limit. 7. Foreign Investment may be made by Technology Transfer: (1) A foreign investor may make foreign investment by transferring technology to any industry established in Nepal.

(2) The terms and conditions of technology transfer pursuant to Sub-section (1) shall be as specified in the agreement on technology transfer made between the concerned industry and the foreign investor.

(3) In the agreement pursuant to Sub-section (2), provision shall not be made to repatriate an amount of royalty exceeding the prescribed limit.

(4) The agreement pursuant to Sub-section (2) shall be approved by the foreign investment approving authority.

(5) While granting approval pursuant to Sub-section (4), the foreign investment approving authority may prescribe necessary conditions based on international practices relating to foreign investment, the production capacity and sales capacity of the industry, etc.
Foreign Investment and Technology Transfer Act, 2019

Inserted by the Act to Amend Some Nepal Acts relating to Investment Facilitation, 2081.7A. Technology Transfer may be made Abroad: (1) Notwithstanding anything contained in the prevailing law, an industry or company established and operating in Nepal may transfer technology to an industry, firm or company located abroad. Amended by the Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081.(2) The foreign currency received in consideration for technology transfer pursuant to Sub-section (1) may, with the permission of Nepal Rastra Bank, be brought into Nepal or invested, subject to the prevailing law relating to regulation of foreign exchange, in a limited liability partnership, firm, investment fund, company or an entity of a similar nature established with limited liability, established or registered abroad.

(3) To make technology transfer pursuant to Sub-section (1), any industry, firm or company may, with the permission of the Department, open its branch office or unit in the concerned country. 8. Foreign Investment may be made by Establishing a Branch: (1) Any industry established abroad may, subject to the prevailing law, make foreign investment by establishing or expanding its branch industry in Nepal.

(2) Other provisions relating to the establishment or expansion of a branch industry pursuant to Sub-section (1) shall be as prescribed. 9. Foreign Investment may be made by Establishing a Venture Capital Fund: (1) An institutional foreign investor may establish a company pursuant to the prevailing law, and with the approval of the Securities Board, establish a fund manager function and a venture capital fund, for the purpose of making equity investment in any industry. Amended by the Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081.

(2) To make investment in an industry from the fund pursuant to Sub-section (1), approval shall be obtained by completing the procedure pursuant to Section 15.

(3) The company shall provide details of the venture capital fund pursuant to Sub-section (1) to the Department every six months.

(4) Other provisions relating to the fund established pursuant to Sub-section (1) shall be as prescribed. Inserted by the Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081.9A.
Foreign Investment and Technology Transfer Act, 2019

Inserted by the Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081.9A. Foreign Investment may be made by Purchasing Units of a Specialized Investment Fund: (1) A foreign investor may make foreign investment by purchasing units of a venture capital fund pursuant to Section 9 or a specialized investment fund registered with the Nepal Securities Board, with the approval of the Nepal Securities Board, for the purpose of making equity investment in any industry.

(2) To make investment in an industry from the fund pursuant to Sub-section (1) whose units have been purchased by a foreign investor, approval shall be obtained by completing the procedure pursuant to Section 15.

(3) The concerned fund manager shall provide details of the fund pursuant to Sub-section (1) whose units have been purchased by a foreign investor to the Department. 10. Securities Transactions may be conducted: (1) An institutional foreign investor establishing a venture capital fund pursuant to Section 9 shall register with the Securities Board for securities transactions.

(2) A foreign investor registered with the Securities Board pursuant to Sub-section (1) may conduct securities transactions, through the secondary market, in securities of industries in which foreign investment is permissible under this Act.

(3) While conducting securities transactions pursuant to Sub-section (2), the minimum number of securities to be purchased, investment limit, minimum period for holding securities after purchase, reserve fund to be maintained in foreign currency for purchasing securities, and other related provisions shall be as prescribed. 11. Borrowing or Obtaining Foreign Currency by Issuing Securities: (1) Any public limited company established in Nepal or an organized institution authorized to issue securities pursuant to the prevailing law may, with the approval of Nepal Rastra Bank and the Securities Board, borrow or obtain foreign currency by issuing debentures, debentures or other securities in the capital market of a foreign country.

(2) A company established in Nepal with foreign investment may borrow by issuing securities within Nepal, subject to the prevailing law relating to securities.

(3) The loan or foreign currency obtained by issuing securities pursuant to Sub-sections (1) and (2) shall be invested in Nepal.

(4) Other provisions relating to issuing securities pursuant to this section shall be as per the prevailing law relating to securities. Amended by the Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081.12.
Foreign Investment and Technology Transfer Act, 2019

Amended by the Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081.12. Borrowing may be made from Foreign Financial Institutions: (1) Any industry may borrow by entering into a project loan or project financing agreement with a foreign financial institution, with the approval of Nepal Rastra Bank pursuant to the prevailing law.

(2) The loan taken by an industry pursuant to Sub-section (1) shall also be entitled to exemptions, facilities and concessions under Chapter-5 for foreign investment under this Act.

(3) Facility of foreign currency shall be provided to the industry for the payment of principal and interest of the loan pursuant to the procedure determined by Nepal Rastra Bank.

(4) Notwithstanding anything contained in the prevailing law, in case a loan is taken from a foreign financial institution with the approval of Nepal Rastra Bank pursuant to Sub-section (1) by entering into a project loan or project financing agreement, the industry taking such loan may mortgage immovable property in the name of the foreign financial institution.

(5) An industry specified in the Schedule shall not be allowed to take a loan pursuant to Sub-section (1). 13. Maximum Limit of Foreign Investment not to be Prescribed: (1) The maximum limit of the amount and share of investment to be made by a foreign investor willing to invest in Nepal shall not be prescribed.

(2) Notwithstanding anything contained in Sub-section (1), in the case of a service industry, the maximum limit of equity of foreign investment and the limit of investment to be made in securities pursuant to Section 10 may be prescribed so as not to be less than the commitment made by Nepal in relation to the concerned sector or sub-sector at the time of obtaining membership of the World Trade Organization. 14. Agreement may be made with Commercial Banks: (1) A foreign investor making investment under this Act may, for the work relating to its investment made in Nepal, enter into a tripartite agreement (escrow agreement) with its partner investor or another foreign investor and any commercial bank or infrastructure development bank recognized by Nepal Rastra Bank.
Foreign Investment and Technology Transfer Act, 2019

Explanation: For the purpose of this section, "Escrow Agreement" means an agreement entered into by the parties to a contract, in relation to a transaction between them, consenting to deposit any amount, document of evidence or any security with a third party for the security of such transaction, and to make such amount, document of evidence or security available to the concerned party after fulfillment of the contractual obligations by the parties to the contract.

(2) The bank entering into an escrow agreement pursuant to Sub-section (1) shall act as an agent of the parties to the agreement.

(3) Other provisions relating to the escrow agreement made pursuant to Sub-section (1) shall be as prescribed. Chapter-3
Approval and Repatriation of Foreign Investment

15. Application to be Submitted for Approval to Make Foreign Investment: (1) A foreign investor desiring to make foreign investment under this Act shall submit an application to the foreign investment approving authority in the prescribed format, specifying the details including the time schedule for bringing foreign investment into Nepal and the action plan for investment in the industry, and the details as prescribed. Inserted by the Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081.Provided that, a non-resident Nepali or a company, firm or investment fund in which more than fifty percent share investment is held by a non-resident Nepali, making investment pursuant to Section 7 or 8 of the Non-Resident Nepali Act, 2064, shall provide information of such investment to the Department. Upon receipt of such information, the Department shall grant approval for the investment.

(2) Upon examining the application received pursuant to Sub-section (1), if the documents as prescribed are found to be complete, the foreign investment approving authority shall grant approval for foreign investment in the prescribed format within seven days from the date of receipt of the application.

(3) An industry that has obtained approval pursuant to Sub-section (2) shall not require further approval for foreign investment if it wishes to invest from the profit earned in the same industry or in any other industry except those specified in the Schedule. Provided that, in respect of matters for which a license or permission is required to be obtained pursuant to the prevailing law for industry or company registration or tax purposes or any other work, the same shall apply.

(4) If any industry is established pursuant to Sub-section (3) or if the ownership structure of any industry changes due to foreign investment, such industry shall give information thereof to the Department and Nepal Rastra Bank.
Foreign Investment and Technology Transfer Act, 2019

Upon receipt of such information, the Department shall maintain a record thereof.

(5) If, upon examining the application pursuant to Sub-section (2), it appears that approval cannot be granted, the foreign investment approving authority shall give written information thereof to the applicant within seven days, stating the grounds and reasons therefor.

(6) If the decision made by the Department pursuant to the information received under Sub-section (5) is not satisfactory, the concerned investor may submit an application to the Ministry for review of such decision.

(7) The Ministry shall, upon necessary inquiry, decide on the application received pursuant to Sub-section (6) within thirty days. 16. Information to be Given to Nepal Rastra Bank: (1) After obtaining approval for foreign investment pursuant to Section 15, the foreign investor shall give written information to Nepal Rastra Bank, including a self-declaration that the amount of such investment is derived from its legitimate source. After giving such information, the foreign investor may bring such investment amount into Nepal.

(2) The amount to be invested by a foreign investor shall be brought in convertible foreign currency through the banking system, completing the procedure determined by Nepal Rastra Bank. Provided that, an Indian investor may also invest such investment amount in Indian currency through the banking system.

(3) Notwithstanding anything contained in Sub-section (3), the lease investment pursuant to Section 6 and the debt investment issued as security pursuant to Section 11 shall be as prescribed. Amended by the Act to Amend Some Nepal Acts relating to Investment Facilitation, 2081.17. Approval of Foreign Investment: Approval of foreign investment under this Act shall be granted by the Department. 18. Period for Completing Investment: (1) A foreign investor shall complete the investment of the amount approved for making foreign investment pursuant to Sub-section (2) of Section 15 within the prescribed period.

(2) A foreign investor who has already obtained approval for making foreign investment pursuant to the prevailing law at the time of commencement of this Act shall also complete the investment of the prescribed minimum amount within the period prescribed pursuant to Sub-section (1).

(3) If an industry fails to make investment within the period specified in Sub-section (1) or (2) or Section 43 without reasonable cause, the investment approval granted to it shall be cancelled by the authority granting such approval. Inserted by the Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081.18A.
Foreign Investment and Technology Transfer Act, 2019

Inserted by the Act to Amend Some Nepal Acts relating to Improvement of Economic and Business Environment and Enhancement of Investment, 2081.18A. Transfer of Property may be made: (1) If a foreign investor wishes to transfer the amount of foreign investment approved pursuant to Section 17, in whole or in part, free of cost to any person or entity, an application shall be submitted to the Department.

(2) Upon examining the application received pursuant to Sub-section (1), the Department may, if tax is leviable pursuant to the prevailing law, require the concerned person or entity to pay the tax and grant approval. 19. Information of Sale or Transfer of Shares to be Given: (1) If there is a change in the structure of ownership or beneficial ownership through the sale or transfer of shares or any other type of financial instrument or any other means, of assets, property or shares or any other financial instrument created in Nepal from foreign investment, within or outside Nepal, the concerned company shall, within thirty days of the transaction, give information thereof, along with supporting documents, to the authority permitting such investment and get it recorded as prescribed.

(2) If the ownership of an industry with foreign investment in Nepal changes upon the transfer of assets, property or shares or any other financial instrument of a holding company, the obligation to give information pursuant to Sub-section (1) shall be of the concerned branch industry or unit of the industry established in Nepal.

(3) If a transaction occurs pursuant to Sub-section (1), the concerned industry shall not be recorded pursuant to Sub-section (1) until the tax is deposited pursuant to the prevailing law, stating the transaction amount.

(4) Other provisions relating to share sale and transfer shall be as prescribed. 20.