chhatramani/nepal_legal_acts_corpus_english huggingface dataset:
Insurance Act, 2022

ापरीक्षकलाई देहायका थप कार्य गर्न आदेश दिन सक्नेछ:-

(क) लेखापरीक्षण सम्बन्धमा प्राधिकरणले आवश्यक ठानेको अतिरिक्त जानकारी पेश गर्न,

(ख) कुनै खास विषयमा प्राधिकरणले तोके बमोजिम वा बीमकलाई सिफारिस गरे बमोजिम अन्य जाँच गर्न । (२) उपदफा (१) बमोजिम पुनः लेखापरीक्षण गराउँदा लागेको सम्पूर्ण खर्च सम्बन्धित बीमकले व्यहोर्नु पर्नेछ । ८९. कारबाहीको सिफारिस गर्ने: यस ऐन बमोजिमको कर्तव्य पालना नगर्ने लेखापरीक्षकलाई प्राधिकरणले एक वर्षदेखि तीन वर्षसम्म बीमकको लेखापरीक्षण गर्न नपाउने गरी लेखापरीक्षकको सूचीबाट हटाउन सम्बन्धित नियमनकारी निकायमा सिफारिस गरी पठाउन सक्नेछ । परिच्छेद-११

बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायक सम्बन्धी व्यवस्था

९०. इजाजतपत्र नलिई काम गर्न नहुने: यस ऐन बमोजिम इजाजतपत्र नलिई कसैले पनि बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकको रुपमा काम गर्न वा गराउन हुँदैन । ९१. बीमा मध्यस्थकर्ताको इजाजत: (१) बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकको रुपमा काम गर्न चाहने व्यक्ति वा संस्थाले इजाजतपत्रका लागि तोकिए बमोजिमको कागजात तथा दस्तुर सहित प्राधिकरण समक्ष निवेदन दिनु पर्नेछ । (२) उपदफा (१) बमोजिम प्राप्त निवेदन जाँचबुझ गर्दा इजाजतपत्र दिन उपयुक्त देखिएमा प्राधिकरणले निवेदकलाई तोकिए बमोजिम बीमा मध्यस्थकर्ताको रुपमा काम गर्न तोकिएको ढाँचामा इजाजतपत्र दिनेछ । (३) बीमा मध् यस्थकर्ता तथा अन्य बीमा सेवा प्रदायकको इजाजतपत्रको अवधि तीन वर्षको हुनेछ । (४) बीमा सर्भेयरको इजाजतपत्र दिँदा निर्जीवन बीमा अन्तर्गत एउटा प्रकार (पोर्टफोलियो) को बीमाको मात्र सर्भे गर्न पाउने गरी इजाजतपत्र दिइनेछ । तर बीमा सर्भेयरको कार्य गर्ने उद्देश्य लिई स्थापना भएको कम्पनीको हकमा यो व्यवस्था लागू हुने छैन । (५) यो ऐन प्रारम्भ हुँदाका बखत बीमा सर्भेयरको इजाजतपत्र लिएका व्यक्तिले यो ऐन प्रारम्भ भएको एक वर्षभित्र आफ्नो विशेषज्ञता रहेको रोजेको कुनै एक प्रकार (पोर्टफोलियो) को इजाजतपत्र कायम गर्नु पर्नेछ । (६) बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकले यस ऐन बमोजिम प्राप्त गरेको इजाजतपत्र अरु कसैलाई प्रयोग गर्न दिन, हस्तान्तरण गर्न वा नामसारी गर्न वा गराउन हुँदैन । (७) बीमा अभिकर्ताको इजाजत पत्र दिँदा समान किसिमको एउटा मात्र बीमाको बीमा अभिकर्ताको इजाजतपत्र दिइनेछ । (८) बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकको इजाजतपत्र सम्बन्धी व्यवस्था तोकिए बमोजिम हुनेछ । ९२. बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकको योग्यता: (१) दफा ९३ बमोजिम निवेदन दिने बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकको योग्यता तोकिए बमोजिम हुनेछ । (२) बीमा मध्यस्थकर्ताले इजाजत प्राप्त गर्नु अघि तोकिए बमोजिमको परीक्षा उत्तीर्ण गरेको हुनु पर्नेछ । (३) प्रचलित कानून बमोजिम दर्ता भएको देहायको योग्यता भएको सङ
Insurance Act, 2022

्गठित संस्थालाई मात्र बीमा दलाल तथा तेस्रो पक्ष सहजकर्ताको रूपमा कार्य गर्न इजाजत पत्र दिइनेछ:-

(क) प्राधिकरणले तोकिदिए बमोजिम अधिकृत पूँजी भएको,

(ख) सङ्गठित संस्थाको व्यवस्थापक भई कार्य गर्ने व्यक्ति बीमा सम्बन्धी काममा चार वर्षको अनुभव प्राप्त गरेको,

(ग) प्राधिकरणले तोकिएका अन्य शर्तहरू पूरा गरेको । (४) बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायक सम्बन्धी अन्य व्यवस्था तोकिए बमोजिम हुनेछ । ९३. बीमा मध्यस्थकर्ताको दायित्व: (१) बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकले इजाजतपत्रको छायाँप्रति आफ्नो कार्यालयमा स्पष्ट देखिने गरी राख्नु पर्नेछ । तर कार्यालय स्थापना नगरेका बीमा अभिकर्ता वा बीमा सर्भेयरले बीमा सम्बन्धी काम गर्दा आफ्नो इजाजतपत्र सम्बन्धित व्यक्तिले मागेमा देखाउनु पर्नेछ । (२) बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकले प्राधिकरणले जारी गरेको आचारसंहिता पालना गर्नु पर्नेछ । (३) बीमा सर्भेयरले आफ्नो नजिकको नातेदार वा आफ्नो एकाघरको परिवारको वित्तीय स्वार्थ भएको कुनै व्यक्ति वा संस्था वा त्यस्तो व्यक्तिको नजिकको नातेदारको क्षति वा हानि नोक्सानीको मूल्याङ्कन वा सर्भे गर्नु वा गराउनु हुँदैन । (४) बीमा सर्भेयरले तोकिएको अवधिभित्र सम्बन्धित बीमक समक्ष सर्भे प्रतिवेदन बुझाउनु पर्नेछ । (५) बीमा सर्भेयरले बीमा सर्भेयरको इजाजतपत्र प्राप्त गरेको व्यक्तिलाई मात्र बीमा सर्भेको काममा लगाउनु पर्नेछ । (६) कुनै एक बीमकको बीमा अभिकर्ताले सोही अवधिमा अर्को समान किसिमको बीमकको बीमा अभिकर्ता भई कार्य गर्न पाउने छैन । तर जीवन बीमा व्यवसाय गर्ने बीमकको बीमा अभिकर्ताले निर्जीवन बीमा व्यवसाय गर्ने बीमकको बीमा अभिकर्ता भई कार्य गर्न र निर्जीवन बीमा व्यवसाय गर्ने बीमकको बीमा अभिकर्ताले जीवन बीमा व्यवसाय गर्ने बीमकको बीमा अभिकर्ता भई कार्य गर्न यस व्यवस्थाले बाधा पुऱ्याएको मानिने छैन । (७) उपदफा (६) मा जुनसुकै कुरा लेखिएको भए तापनि लघुबीमा सम्बन्धी कार्य गर्ने बीमा अभिकर्ताले एकभन्दा बढी बीमकको लघुबीमा अभिकर्ता भई कार्य गर्न सक्नेछ । (८) बीमा दलाल वा तेस्रो पक्ष सहजकर्ताले आफ्नो सञ्चालक समितिको कुनै सदस्य सञ्चालक भएको वा त्यस्तो सदस्यको वित्तीय स्वार्थ भएको कुनै पनि सङ्गठित संस्थामा कुनै पनि किसिमको लगानी गर्न वा त्यस्तो संस्थालाई ऋण दिन वा कुनै किसिमको जमानत वा सुरक्षण दिन हुँदैन । (९) बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकले सम्पादन गर्ने काम, पारिश्रमिक वा कमिसन, पदीय आचरण तथा अन्य व्यवस्था तोकिए बमोजिम हुनेछ । ९४. इजाजतपत्र नवीकरण सम्बन्धी व्यवस्था: (१) बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकले इजाजतपत्र नवीकरण गराउन चाहेमा इजाजतपत्रको अवधि समाप्त हुनु अगावै तोकिएको दस्तुर तथा अन्य विवरण संलग्न गरी प्राधिकरण समक्ष निवेदन दिनु पर्नेछ । (२) कुनै बीमा मध्यस्थ
Insurance Act, 2022

कर्ताले उपदफा (१) बमोजिम म्यादभित्र इजाजतपत्र नवीकरणका लागि निवेदन दिन नसकेको कारण खुलाई म्याद थपको लागि निवेदन दिएमा प्राधिकरणले आवश्यक जाँचबुझ गर्दा व्यहोरा मनासिब देखिएमा बढीमा तीन महिनासम्मका लागि म्याद थप गरिदिन सक्नेछ । (३) उपदफा (१) वा (२) बमोजिमको अवधिभित्र नवीकरणका लागि निवेदन प्राप्त भएमा आवश्यक जाँचबुझ गर्दा नवीकरण गर्न उपयुक्त देखिएमा तीन वर्षको लागि इजाजतपत्र नवीकरण गरिदिनु पर्नेछ । (४) कुनै कारणले इजाजतपत्र नवीकरण गर्न नसकिने भएमा सम्बन्धित बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकलाई सोको कारण खुलाई प्राधिकरणले लिखित जानकारी दिनु पर्नेछ । (५) बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकको इजाजतपत्र नवीकरण सम्बन्धी अन्य व्यवस्था तोकिए बमोजिम हुनेछ । ९५. इजाजतपत्र खारेज हुने: (१) कुनै बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकले इजाजतपत्र नवीकरणका लागि दफा ९४ बमोजिम अवधिभित्र निवेदन नदिएमा इजाजतपत्रको अवधि समाप्त भएको मितिदेखि निजको इजाजतपत्र स्वतः खारेज हुनेछ । (२) कुनै बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकले आफ्नो इजाजतपत्र खारेज गर्न प्राधिकरण समक्ष लिखित रुपमा निवेदन दिएमा प्राधिकरणले जाँचबुझ गरी त्यस्तो इजाजतपत्र तोकिए बमोजिम खारेज गर्न सक्नेछ । (३) यस ऐनमा जुनसुकै कुरा लेखिएको भए तापनि देहायको अवस्थामा प्राधिकरणले बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदा यकको इजाजतपत्र खारेज गर्न सक्नेछ:-

(क) यो ऐन वा यस ऐन अन्तर्गत बनेको नियम, विनियम, निर्देशिका वा प्राधिकरणले दिएको निर्देशन विपरीत कुनै काम गरेमा, वा

(ख) बीमितको हक हित विरुद्ध कुनै कार्य गरेको प्रमाणित भएमा । (४) उपदफा (३) बमोजिम इजाजतपत्र खारेज गर्नु अघि प्राधिकरणले सम्बन्धित बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकलाई आफ्नो सफाई पेश गर्ने मनासिब मौका दिनु पर्नेछ । ९६. नवीकरण नहुने: यस ऐनमा अन्यत्र जुनसुकै कुरा लेखिएको भए तापनि कुनै बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकले दफा ९३ बमोजिमको दायित्व पालना नगरेको कारणले सो हैसियतमा रही कार्य गर्न अयोग्य देखिएमा वा बीमितको गम्भीर हानि भएको प्रमाणित भएको खण्डमा निजको इजाजतपत्र नवीकरण हुने छैन । ९७. काममा लगाउन नहुने: (१) कसैले पनि यस ऐन बमोजिम इजाजतपत्र नलिएको वा इजाजतपत्र नवीकरण नगराएको संस्थालाई बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकको रूपमा काममा लगाउनु हुँदैन । (२) उपदफा (१) विपरीत कुनै बीमकले बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकलाई काममा लगाएमा सोबाट सिर्जना हुने सम्पूर्ण दायित्व र परिणाम बीमक आफैँले व्यहोर्नु पर्नेछ । (३) इजाजतपत्र खारेजी भएको कुनै बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकले इजाजतपत्रको अवधि कायम रहेका बखत गरेको बीमा व्यवसाय सम्बन्धी कुनै कामबाट सिर्जना भएको दायित्व सम्बन्धित बीमकले व्यहोर
Insurance Act, 2022

्नु पर्नेछ । (४) बीमा मध्यस्थकर्ताले कुनै पनि बीमकको सञ्चालक, कार्यकारी प्रमुख, कर्मचारी वा परामर्शदाताको रुपमा कार्य गर्न पाउने छैन । परिच्छेद-१२

नियमन, निरीक्षण तथा अनुगमन

९८. नियमन, निरीक्षण तथा अनुगमन गर्ने: (१) प्राधिकरणले बीमक, बीमा मध्यस्थकर्ता, अन्य बीमा सेवा प्रदायक वा त्यस्तो बीमक, बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकसँग सम्बन्धित व्यक्ति वा संस्थाको काम कारबाहीको सम्बन्धमा जुनसुकै बखत नियमन, निरीक्षण वा अनुगमन गर्न सक्नेछ । (२) प्राधिकरणले शङ्का लागेमा वा उजुरी परेमा बीमक वा बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकको काम कारबाही सम्बन्धमा कुनै विशेषज्ञ वा प्राधिकरणको कर्मचारी खटाई बीमक वा बीमा मध्यस्थकर्ता वा अन्य बीमा सेवा प्रदायकको कार्यालय वा कारोबार स्थलमै गई स्थलगत (अनसाइट) निरीक्षण गर्न वा बीमकको सम्बन्धित कागजात, लेखा तथा वित्तीय विवरण, बीमालेख, सम्बन्धित प्रतिवेदन तथा विवरण प्राधिकरणमा झिकाई निरीक्षण गर्न वा अन्य तरिकाले जुनसुकै बखत नियमन, निरीक्षण वा अनुगमन गर्न सक्नेछ । (३) उपदफा (१) को प्रयोजनको लागि प्राधिकरणले बीमा व्यवसायको नियमन, निरीक्षण वा अनुगमन सम्बन्धी अन्तर्राष्ट्रिय स्तरमा स्थापित सिद्धान्त, मान्यता, मापदण्ड तथा असल अभ्यास (बेष्ट प्राक्टिस) तथा प्रचलनलाई आधारको रुपमा लिनेछ । (४) उपदफा (२) बमोजिम खटिएको विशेषज्ञ वा कर्मचारीले सम्बन्धित पक ्षसँग लगत, तथ्याङ्क, विवरण, सूचना, प्रतिवेदन, विद्युतीय माध्यमबाट सिर्जना गरिएका विवरण वा आवश्यक अन्य कुनै कागजात माग गर्न, हेर्न, जाँच, निरीक्षण, अनुसन्धान गर्न, सोको सक्कल वा प्रतिलिपि माग गर्न वा सो सम्बन्धमा सोधपुछ गर्न सक्नेछ । (५) उपदफा (४) बमोजिम माग गरेको लगत, तथ्याङ्क, विवरण, सूचना वा आवश्यक अन्य कुनै कागजात तोकिएको समयमा उपलब्ध गराउने तथा कुनै विवरण हेर्न, जाँच, निरीक्षण गर्न र सो सम्बन्धमा सोधेका प्रश्नहरूको सत्य तथ्य जवाफ दिन सम्बन्धित बीमक, बीमा मध्यस्थकर्ता, अन्य बीमा सेवा प्रदायक, बीमित तथा बीमा व्यवसायसँग सम्बन्धित व्यक्तिको कर्तव्य हुनेछ । (६) यस दफा बमोजिम नियमन, निरीक्षण वा अनुगमन गर्न खटिएको कर्मचारी वा विशेषज्ञले बीमकले सम्पादन गरेको कार्य, त्यसका काम कारबाही वा लिखतका सम्बन्धमा कुनै त्रुटि वा कमजोरी देखिएमा, कुनै काम कारबाही वा लिखत शंकास्पद भएको देखिए

(3) Upon receipt of information that proceedings have been initiated pursuant to subsection (2), the Authority shall, for that purpose, appoint an assessor to evaluate the liability of the insurance business conducted in Nepal by such office and the assets of such office located in Nepal.

(4) The assessor appointed pursuant to subsection (3) shall submit a report detailing the amounts under sections 38, 39, 40
Insurance Act, 2022

and 41, the assessed amount including details of other movable and immovable property of such office, the amount of liability arising at the time of issuance of insurance policies by such office and upon maturity, the amount payable to the Government of Nepal, and other amounts and liabilities to be paid.

(5) After receiving the report pursuant to subsection (4), the Authority shall freeze, as prescribed, the amount corresponding to the liability to be borne by such office in Nepal, in such a manner that the insurer cannot expend it.

(6) The liability to be borne by such office shall be fulfilled as prescribed from the amount referred to in subsection (5).

(7) The amount remaining after fulfilling the liability pursuant to subsection (6) may be taken back to the relevant country in accordance with prevailing law.

(8) If it appears from the report pursuant to subsection (4) that the liability towards the policyholders or other liabilities created due to conducting insurance business in Nepal cannot be fulfilled, the Authority shall direct such office to arrange the necessary amount to be able to fulfill such liability.

(9) Where a direction is given pursuant to subsection (8), it shall be the duty of the concerned office to arrange such amount.

(10) If such amount cannot be arranged by the office pursuant to subsection (9), the Authority shall request the Government of Nepal to make arrangements to obtain such amount from the regulatory body of the relevant country through diplomatic channels.

(11) If the liability cannot be paid pursuant to subsection (10), the Authority shall make arrangements for the necessary amount to be borne by the Policyholders' Protection Fund.

(12) If the liability cannot be fulfilled pursuant to subsection (11), the Authority may request the Government of Nepal to bear the liability for such amount. Chapter-16

Insurance Claims

123.
Insurance Act, 2022

Chapter-16

Insurance Claims

123. Settlement of insurance claims: (1) If an insurance claim is submitted in accordance with the terms of the policy, the insurer shall, if loss assessment is required, have such assessment done, and if loss assessment is not required, shall settle the claim within the prescribed period from the date of such submission.

(2) If the policyholder or his/her legal representative is not traced within the prescribed period in accordance with prevailing law, or if the claim cannot be paid to him/her, the amount payable at the time of the claim shall be deposited into the Unclaimed Fund.

(3) If the person entitled to receive payment of the insurance claim amount is not found, the insurer shall securely retain evidence of having searched for the policyholder or legal representative in any manner, having attempted to contact, or having made sufficient efforts to pay the amount.

(4) The insurer shall submit to the Authority details of claims that could not be settled within the prescribed time.

(5) Notwithstanding anything contained elsewhere in this Act, in the event of a catastrophe including a major disaster in any territory or area of the country, the Authority may prepare and implement a separate procedure relating to insurance claims for a specified period for the place affected by such crisis.

(6) Other provisions relating to insurance claim settlement and the Unclaimed Fund shall be as prescribed. 124. Payment of reinsurance claims: (1) The ceding insurer shall pay the amount of the reinsurance claim based on the reinsurance contract entered into between the insurer conducting insurance business and the reinsurer.

(2) Settlement of reinsurance claims and other provisions relating thereto shall be as prescribed. 125. Settlement of small amount claims: (1) Liability for a claim of an amount smaller than the limit set by the Authority shall be settled under small amount claims.

(2) Other provisions relating to the payment of small amount claims shall be as prescribed. 126. Clear damage or loss: (1) Damage or loss of the nature prescribed by the Authority shall be settled under clear damage or loss.

(2) Other provisions relating to clear damage or loss shall be as prescribed. 127.
Insurance Act, 2022

Chapter-17

Provisions Relating to Complaints

128. Complaints relating to claim payment: (1) If the insurer does not pay the insurance claim to the policyholder within the period stipulated in the policy, does not determine the liability, or determines the liability in a manner detrimental to the policyholder, the concerned policyholder may file a complaint with the Authority.

(2) Upon receiving a complaint pursuant to subsection (1), the Authority shall conduct necessary inquiry and allow the concerned insurer fifteen days to submit a response.

(3) Upon receiving a response pursuant to subsection (2), or if the insurer fails to submit a response within the period for filing a response, the Authority may do the following:-
 (a) Mediate between the complainant and the insurer,
 (b) Order payment of reasonable compensation if any loss has been caused to the policyholder due to non-payment of the claim,
 (c) Order the concerned insurer to re-determine the liability if the liability determined by the insurer does not appear reasonable,
 (d) Order the concerned insurer to pay the claim if it appears that the claim ought to be paid,
 (e) Give any other appropriate order.

(4) If a complaint is filed against an insurer for not paying a claim in accordance with the policy and it is decided that the claim must be paid, the concerned insurer shall, in addition to the insurance amount, pay the complainant interest at the rate of ten percent from the date of the complaint, and an amount equal to the actual expenses incurred in obtaining legal remedy.

(5) An insurer, policyholder, or any other person aggrieved by an order given by the Authority pursuant to subsection (3) may appeal to the concerned High Court within thirty-five days.

(6) Other provisions relating to proceedings upon a complaint under this section shall be as prescribed. 129.
Insurance Act, 2022

129. Complaints relating to loss or damage: (1) If any insurer, or any director, officer, or employee of such insurer, or an insurance intermediary or other insurance service provider, does any act against the rights and interests of any policyholder and causes loss or damage to him/her, the concerned insurer shall be liable and shall pay compensation therefor.

(2) If any act is done causing loss or damage pursuant to subsection (1), the policyholder may file a complaint with the Authority within the prescribed period from the date of knowledge of such act.

(3) Upon receiving a complaint pursuant to subsection (2), the Authority shall conduct necessary investigation or inquiry and allow the concerned insurer, director, officer, employee, or the concerned insurance intermediary seven days to submit a response.

(4) Upon receiving a response pursuant to subsection (3), or if no response is received within the period for submitting a response, the Authority may, after conducting necessary inquiry, order the party causing loss or damage to pay a reasonable amount as compensation to the complainant, or may order mediation between the complainant and the insurer.

(5) A party aggrieved by an order to pay compensation pursuant to subsection (4) may appeal to the concerned High Court within thirty-five days.

(6) Other provisions relating to proceedings on complaints under this section shall be as prescribed. 130. Insurance mediation: If any dispute arises among insurers licensed under this Act, or among insurance intermediaries, or between insurers, intermediaries, or other parties to insurance, and cannot be resolved by mutual agreement, the Authority may, upon the request of any one of the parties involved in the dispute or at the initiative of the Authority, mediate and resolve the dispute as prescribed. Chapter-18

Operation and Management of Insurance in Province

131. Operation and management of insurance in province: (1) Subject to this Act, a province may make laws and operate and manage insurance on the following matters:-
 (a) extending the reach of insurance,
 (b) issuing and renewing licenses for insurance agents as prescribed,
 (c) conducting training programs relating to insurance,
 (d) hearing grievances on prescribed matters.

(2) While performing functions pursuant to subsection (1), the functions shall be performed subject to the standards set by the Authority.

(3) Notwithstanding anything contained elsewhere in this Act, until the province makes a law and commences its work and proceedings, the work and proceedings pursuant to this section shall be carried out by the Authority. 132.
Insurance Act, 2022

135. May direct to withhold or cancel insurance payment: Notwithstanding anything contained elsewhere in this Act, in the following circumstances, the Authority may direct any person not to issue an insurance policy or to withhold the amount payable under the policy or to cancel the policy:-
 (a) to prevent any act contrary to the insurance business or the interests of the policyholder,
 (b) to assist in the investigation of any offense,
 (c) to assist in the control of money laundering, financing of terrorist activities, fraud, corruption, human trafficking or other organized crime. 136. May suspend license or prohibit carrying on business: (1) If any insurer does any of the following acts, the Authority may suspend the license of such insurer for a prescribed period or partially or completely prohibit such insurer from carrying on insurance business:-
 (a) if minimum paid-up capital is not maintained as per the provision of section 36,
 (b) if a decision relating to claim payment or loss or damage made pursuant to section 128 or 129 is not implemented within the prescribed period,
 (c) if allowing the insurer to carry on insurance business would be seriously detrimental to the policyholders,
 (d) if the insurance business is closed without the approval of the Authority,
 (e) if any other act prohibited by this Act or any rule, regulation made under this Act or prevailing law is done,
 (f) if directions or orders given by the Authority are repeatedly violated.

(2) Before suspending the license of an insurer or completely or partially prohibiting the insurance business pursuant to subsection (1), the Authority shall give the concerned insurer a reasonable opportunity to submit an explanation.

(3) If the explanation submitted by the insurer pursuant to subsection (2) appears satisfactory, the Authority may revoke such suspension or prohibition.

(4) If an insurer is completely or partially prohibited from carrying on insurance business pursuant to subsection (1), notice thereof shall be published for the information of the general public through at least two national daily newspapers and the website of the Authority. 137.
Insurance Act, 2022

137. May cancel license of insurer: (1) The Authority may cancel the license of an insurer in the following circumstances:-
 (a) if the prohibition from carrying on insurance business or suspension of license under section 136 is not revoked even after one year,
 (b) if allowing the insurer to carry on insurance business would be seriously detrimental to the policyholders,
 (c) if a court has initiated insolvency proceedings against the insurer in accordance with prevailing law,
 (d) if an application for cancellation is made by the insurer and the cancellation process is completed.

(2) Except in the circumstances of clause (c) or (d) of subsection (1), before canceling the license of an insurer, the Authority shall give the concerned insurer a reasonable opportunity to submit an explanation by providing a reasonable time as prescribed.

(3) Notwithstanding anything contained elsewhere in this section, if a circumstance mentioned in clause (a) or (b) of subsection (1) arises and the concerned insurer undertakes to rectify such circumstance and not to repeat the deficiency or shortcoming, the Authority may grant such insurer a reasonable time, once, to rectify its condition or correct the deficiency or shortcoming.

(4) If the license of an insurer is cancelled under this section, the liability assumed by the insurer prior to such cancellation shall be settled as prescribed.

(5) If a license is cancelled under this section, the Authority shall make public the name of the concerned insurance company for the information of the general public through at least two national daily newspapers and the website of the Authority. 138.
Insurance Act, 2022

140. Offenses: (1) The following acts or activities shall be deemed to be offenses under this Act:-
 (a) carrying on insurance business without a license under section 24,
 (b) working as an insurance intermediary or other insurance service provider without a license under section 90,
 (c) making payment of an insurance claim by an insurer by committing or not committing any insurance-related fraud or forgery, with or without collusion with an insurance intermediary or other insurance service provider or other party, by preparing or not preparing false statements or documents,
 (d) receiving payment of an insurance claim by a policyholder by committing or not committing any insurance-related fraud or forgery, with or without collusion with an insurance intermediary or other insurance service provider or other party, by submitting or not submitting false statements or documents,
 (e) causing loss or damage to an insurer or policyholder by an insurance surveyor by making an overvaluation, undervaluation or incorrect assessment of loss in a self-interested or malicious manner,
 (f) misappropriation of premium payable by the policyholder to the insurer under the insurance policy by an insurance agent who dishonestly fails to pay such premium to the insurer,
 (g) committing any irregularity or financial misuse by an employee, officer or any other person of the insurer while issuing an insurance policy, assessing loss of insured property or liability, paying an insurance claim, or operating the insurance business,
 (h) committing any irregularity by any director, officer, chief executive, employee or other person during the merger or amalgamation, acquisition, cancellation or audit of an insurer,
 (i) attempting to commit an offense under clauses (a) to (h) or aiding in any manner in the commission of such offense.

(2) If any officer or employee of a foreign insurer transfers any property of such branch office to another country without obtaining approval from the Authority or by obtaining approval through submission of false statements, except in the course of regular business of the branch office, or authorizes such transfer, or does any act that aids or abets such act, it shall be deemed to be an offense under this Act. 141.
Insurance Act, 2022

141. Punishment: (1) A person who commits an offense under clause (a) of subsection (1) of section 140 shall be liable to confiscation of the proceeds, a fine equal to three times the proceeds, and imprisonment for a term of five to ten years for the person conducting such business.

(2) A person who commits an offense under clauses (b), (c) and (d) of subsection (1) of section 140 shall be liable to confiscation of the proceeds, a fine equal to the proceeds, or imprisonment for up to three years.

(3) A person who commits an offense under clauses (e), (f), (g) and (h) of subsection (1) of section 140 shall be liable to confiscation of the proceeds and punishment as follows:-
 (a) if the proceeds are up to one million rupees, imprisonment for up to one year,
 (b) if the proceeds are more than one million rupees up to five million rupees, imprisonment for up to two years,
 (c) if the proceeds are more than five million rupees up to ten million rupees, imprisonment for up to three years,
 (d) if the proceeds are more than ten million rupees, imprisonment for three to five years.

(4) A person committing an offense under clause (i) of subsection (1) of section 140 shall be liable to half the punishment prescribed for the principal offender.

(5) A person committing an offense under subsection (2) of section 140 shall be liable to a fine according to the proceeds and imprisonment for up to five years.

(6) For the purpose of this section, in determining the proceeds, the entire amount involved in the transaction shall be taken into account.

(7) In case the proceeds cannot be determined under this section, depending on the gravity of the offense, there shall be a fine of up to one million rupees and imprisonment for up to two years.

(8) If an act liable to punishment under this section is committed by an organized institution, the concerned director, chief executive, officer or employee who committed such criminal act shall be punished. 142. Not to be allowed to perform work relating to insurance business: If the license of any director, officer or employee of an insurer, or any insurance agent or insurance intermediary is suspended, or if a case relating to an offense under section 140 is filed against him/her in court, such director, officer, chief executive, advisor or employee or insurance intermediary shall not be allowed to perform any work relating to insurance business until the suspension is revoked or until the final disposal of such case. 143.
Insurance Act, 2022

143. Special provisions relating to policyholder: (1) If any policyholder, with or without collusion with an insurer, insurance intermediary or other insurance service provider, commits any insurance-related fraud, forgery, submits or does not submit false statements, fails to submit required statements, submits statements not required to be submitted, conceals any basic fact about himself/herself or the insured property, is suspected of making an insurance claim, or is suspected of influencing the insurer, insurance intermediary or other insurance service provider, the Authority may investigate or inquire into such policyholder.

(2) It shall be the duty of such policyholder to assist the Authority when it conducts an investigation or inquiry under subsection (1).

(3) If the policyholder is found guilty from the investigation or inquiry conducted under subsection (1), a letter shall be sent to the authority empowered by prevailing law.

(4) A policyholder or any other person who fails to assist in an investigation or inquiry under this section, commits insurance fraud or insurance cheating, may be blacklisted by the Authority upon receipt of a letter from the authority empowered by prevailing law, and the insurance of any business in which such person is involved may be prohibited for up to five years.

(5) Other provisions relating to the investigation or inquiry of a policyholder shall be as prescribed. 144. Punishment for obstructing: If any person obstructs work or proceedings relating to an investigation or inquiry under this Act, the officer hearing the case may, on the basis of the report of the investigating or inquiring officer, punish such person with imprisonment for up to six months or a fine of up to one hundred thousand rupees or both. 145. Limitation for filing complaint: If information about an act deemed to be an offense under this Act comes to the knowledge of the Authority through any means, or is proven through inspection by the Authority or investigation or inquiry by an officer or body empowered by prevailing law, a complaint may be filed within six months from that date, and the case must be filed in court within three months from the date of such complaint. 146. Government of Nepal to be plaintiff: (1) A case relating to an offense under section 140 shall be conducted with the Government of Nepal as plaintiff, and such case shall be deemed to be included in Schedule-1 of the National Criminal Procedure Code, 2074.

(2) The Authority shall provide necessary assistance to the concerned officer in the work of investigation, inquiry and filing of cases regarding the offense under subsection (1). 147.
Insurance Act, 2022

147. Officer to hear case and execution of decision: (1) The authority to conduct proceedings and dispose of cases relating to offenses under section 140 shall vest in the court designated by the Government of Nepal by publishing a notice in the Nepal Gazette.

(2) Except as provided in subsection (1), the Authority itself may conduct investigation or inquiry and take action and impose penalties in relation to other prohibited acts under this Act.

(3) For the purpose referred to in subsection (2), the Authority shall, in addition to the powers conferred by the rules made under this Act, have powers akin to those of a District Court.

(4) The hearing of petitions or appeals filed in the High Court under this Act shall be conducted by the Commercial Bench of the concerned High Court. 148. Calling for information: (1) If, during an investigation or inquiry in relation to regulation or proceedings under this Act, the Authority or the investigating or inquiring body thinks it necessary to obtain any deed, account details, documents or other information for the investigation or inquiry, and if such deed, account details or other information is with any person or entity or such person or entity can submit such information or documents, the Authority or the investigating or inquiring body may request such person or entity to submit such information or documents.

(2) It shall be the duty of all concerned persons or entities to make available the deed, account details or other information requested by the investigating or inquiring body under subsection (1) or to provide assistance. 149. Penalty not barred: If a person is found to have committed any offense under section 138 while holding any position in an insurer, such person's retirement from that position or not holding that position shall not bar investigation, inquiry and punishment under this Act. Chapter-20
Miscellaneous

150. Policyholders' Protection Fund: (1) There shall be a Policyholders' Protection Fund under the Authority.

(2) The Fund under subsection (1) shall consist of the following amounts:-
 (a) amounts set aside by the Authority for that purpose,
 (b) amounts obtained from insurers carrying on life insurance business as prescribed by the Authority,
 (c) amounts deposited into the Unclaimed Fund under amended by Some Nepal Laws Amendment Act, 2062 section 123, which could not be paid when the condition for payment under a life insurance policy arose.

(3) The Policyholders' Protection Fund and other provisions relating thereto shall be as prescribed. 151.
Insurance Act, 2022

151. Insurance Development Fund: (1) There shall be an Insurance Development Fund under the Authority for the purpose of extending the reach of insurance to economically disadvantaged citizens and protecting the interests of citizens through insurance.

(2) The Fund under subsection (1) shall consist of the following amounts:-
 (a) amounts received from the Government of Nepal,
 (b) amounts equal to fifty percent of the microinsurance regulatory fees received by the Authority from insurers under section 79, and amounts equal to at least thirty-three percent of the regulatory fees received by the Authority from insurers under section 100, and
 (c) amounts received from other sources.

(3) The Authority shall deposit the amounts under clause (b) of subsection (2) into the Fund under subsection (1) each year.

(4) The use of the amount in the Fund under subsection (1) shall be in the prescribed sectors as prescribed.

(5) Other provisions relating to the operation and management of the Fund under subsection (1) shall be as prescribed. 152. Grievance hearing: (1) If any person has any grievance relating to any work or activity done by an insurer, policyholder, insurance intermediary, or director, officer, employee of an insurer, or insurance intermediary or any other stakeholder under this Act, a complaint may be filed with the Authority.

(2) Other provisions relating to grievance hearing and the officer hearing grievances shall be as prescribed. 153. Not to transact insurance business with any person other than an insurer: (1) No person or entity shall transact insurance business with any person other than an insurer licensed under this Act.

(2) Insurance of property located in Nepal and liabilities arising within Nepal shall be done only with an insurer licensed under this Act. 154. May form expert group: (1) The Authority may, as prescribed, form an expert group to study, investigate or inquire into claims related to fraud, forgery or cheating arising or occurring or encountered in the insurance business and to provide necessary opinions and recommendations for action, reform or policy making relating thereto.

(2) Other provisions relating to the expert group shall be as prescribed. 155. Insurance Information Center: (1) The Authority may establish an Insurance Information Center to collect, integrate and systematize information of the insurance sector.

(2) The Authority shall regulate the Insurance Information Center established under subsection (1).

(3) Other provisions relating to the Insurance Information Center shall be as prescribed. 156. May establish Insurance Institute: (1) The Authority may establish an Insurance Institute for producing skilled manpower in the
Electronic Commerce (E-commerce) Act, 2024

Electronic Commerce (E-Commerce) Act, 2025

Certification and Publication Date
2081.12.03

Act Number 13 of the year 2025

An Act made to make provisions relating to Electronic Commerce (E-Commerce)

Preamble: Whereas, it is desirable to make legal provisions relating to regulating, systematizing and making reliable commercial transactions of goods or services through information technology,

The Federal Parliament has enacted this Act. Chapter-1

Preliminary

1. Short Title, Commencement and Extent: (1) This Act may be called the "Electronic Commerce (E-Commerce) Act, 2025".

(2) This Act shall commence on the thirty-first day from the date of its certification.

(3) This Act shall apply throughout Nepal and shall also apply to any person residing anywhere outside Nepal who makes goods or services available in Nepal through electronic commerce. 2. Definitions: Unless the subject or context otherwise requires, in this Act,-

(a) "Consumer" means a person or entity who consumes or uses any goods or services pursuant to this Act.

(b) "Contract" means a contract pursuant to Section 7.

(c) "Buyer" means any person or entity who purchases any goods or services pursuant to this Act, and the said term also denotes the representative of such person.

(d) "Carrier" means a person, firm, company or entity employed by a businessperson for the purpose of transporting goods, and the said term also denotes the representative of such person, firm, company or entity.

(e) "Inspecting Officer" means an inspecting officer appointed or designated pursuant to the prevailing Federal law relating to consumer protection.

(f) "Seller" means a person, firm, company or entity who makes goods or services available for sale to an intermediary businessperson pursuant to this Act, and the said term also denotes a list-based electronic commerce businessperson.

(g) "Intermediary Businessperson" means a person, firm, company or entity who facilitates the sale of a seller's goods or services to a buyer through an electronic platform.

(h) "Ministry" means the Ministry of Industry, Commerce and Supplies of the Government of Nepal.

(i) "Director General" means the Director General of the Department.

(j) "Goods" means substances made from goods consumed or used by a consumer or a mixture of goods so as not to cause harm, damage or any kind of negative effect on health, and the said term also denotes raw materials, colors, fragrances or chemicals used in the manufacture of such goods.

(k) "Electronic Platform" means a system created for the purpose of transacting goods or services by collecting, transmitting or storing information through means including websites, applications, software, internet, intranet, social media marketplaces using computers, mobile phones or electronic devices of a similar nature.

(l) "Electronic Commerce (E-Commerce)" means the process of purchasing or selling any goods or services through an electronic platform.
Electronic Commerce (E-commerce) Act, 2024

Provided that if an electronic platform is used only to provide information about or promote goods or services, it shall not be deemed to have conducted electronic commerce (E-commerce).

(m) "Department" means the Department of Commerce, Supplies and Consumer Protection of the Government of Nepal.

(n) "Businessperson" means an intermediary businessperson or a list-based electronic commerce businessperson.

(o) "List-Based Electronic Commerce Businessperson" means a firm, company or entity who prepares a list of goods or services owned by it and sells goods or services from such list directly to consumers through an electronic platform.

(p) "Service" means electricity, drinking water, telephone, information technology, health, education and consultancy, transportation, tourism, entertainment, transport, drainage maintenance, banking, insurance or other services of a similar nature, and the said term also denotes legal, auditing, medical or engineering services. Chapter-2

Operation of Electronic Commerce

3. Persons Who May Conduct Electronic Commerce: (1) Any firm, company or entity registered and authorized to trade in goods or services pursuant to the prevailing law may conduct electronic commerce subject to this Act.

(2) Notwithstanding anything contained in Sub-section (1), goods or services the purchase or sale of which through electronic means is prohibited by the prevailing law or by the Government of Nepal by publishing a notice in the Nepal Gazette shall not be purchased or sold through such means. 4. Electronic Platform to be Established: (1) Every businessperson conducting electronic commerce shall establish an electronic platform.
Electronic Commerce (E-commerce) Act, 2024

4. Electronic Platform to be Established: (1) Every businessperson conducting electronic commerce shall establish an electronic platform. Provided that a micro entrepreneur or a similar household entrepreneur shall not be prevented from conducting electronic commerce using another electronic platform.

(2) In the platform pursuant to Sub-section (1), the businessperson shall mention at least the following details so that the buyer can make an informed decision at any time regarding their trade or business:-

(a) Name of the electronic platform,

(b) Name, address, registering authority and registration certificate number of the business,

(c) Details of the registered office, head office, and branches and outlets, if any, of the businessperson,

(d) Details of a separate license obtained to operate a specific type of business, if any,

(e) Details of whether the business is intermediary or list-based electronic commerce,

(f) Value Added Tax registration number or Permanent Account Number,

(g) Email, telephone, mobile number, telefax, social media address (link) for contacting the businessperson, and designated email, telephone and mobile number for customer service,

(h) Email, telephone or mobile number and address of the person or unit responsible for hearing complaints, and

(i) Listing number obtained after being listed in the electronic commerce portal pursuant to Section 5.

(3) If there is any change in the details pursuant to Sub-section (2), the businessperson shall update the details on their electronic platform within forty-eight hours of such change.

(4) The details pursuant to Sub-section (2) shall be mentioned in a complete, clear and easily accessible manner for the consumer. 5.
Electronic Commerce (E-commerce) Act, 2024

5. Listing to be Done: (1) After a businessperson has established an electronic platform pursuant to Section 4, they shall submit an application through electronic means to the electronic commerce portal established by the Department for listing with the following details:-

(a) Name, address, registering authority and registration certificate number of the business,

(b) In the case of a businessperson registered as a private firm, the name and identity details of the relevant proprietor; in the case of a partnership firm, the partners; and in the case of a company or institution, the name and identity details of the director of the company or institution,

(c) Clear description of the businessperson's own business,

(d) Value Added Tax registration number or Permanent Account Number,

(e) Telephone number, email, social media address (link) and contact address of the businessperson,

(f) If there are branches or outlets, their number and location, and

(g) Other details mentioned in the electronic portal.

(2) A businessperson who is already operating electronic commerce at the time of commencement of this Act shall submit an application for listing in the electronic portal pursuant to Sub-section (1) within three months from the date of commencement of this Act.

(3) Within seven days from the date of receipt of an application for listing in the electronic portal pursuant to Sub-section (1) or (2), the Department shall provide information with the listing number of such platform to the concerned businessperson through electronic means.

(4) After listing pursuant to Sub-section (3), if the listed businessperson adds or removes any of their branches or outlets, they shall update the details in the electronic portal within seven days from the date of such addition or removal. 6.
Electronic Commerce (E-commerce) Act, 2024

6. Details to be Disclosed: The businessperson shall disclose the following details regarding the goods or services to be transacted electronically on the electronic platform:-

(a) Details including the name, nature, design, trademark, shape or image or combination thereof, weight or inherent elements of the goods or services available for electronic commerce,

(b) Final selling price of the goods or services including tax,

(c) Details of any additional charges for transporting or delivering goods, if applicable,

(d) Information on precautions to be taken when using the goods or services, if any,

(e) Time and date required for the delivery of goods or services,

(f) Means or method of payment for the goods or services,

(g) Duration and terms of warranty or guarantee, if any, for the goods or services,

(h) Person, firm, company or entity producing the goods or providing the service,

(i) If any goods or services are imported, the country of production or processing of such goods or services,

(j) Details of any conditions to be observed after the purchase or sale of goods or services,

(k) Whether purchased goods or services can be returned or not, and if returnable, the terms and period thereof,

(l) If a service is sold, the place of receiving the service and the terms of sale,

(m) Details regarding whether a buyer can cancel a request for goods or services before such goods are dispatched or services commence,

(n) Production date, best-before/expiry date and other essential conditions for goods,

(o) Main terms of the contract in a language understandable by the general public, and

(p) Mechanism for addressing customer reviews, ratings, complaints and feedback. 7. Contract Deemed to be Made: (1) Where a contract is made electronically between a buyer and a businessperson, or between a seller and a businessperson, regarding the transaction of any goods or services pursuant to this Act, it shall be deemed to be a contract made pursuant to the prevailing law, and if any liability is created under such contract, the parties to the contract shall bear such liability.

(2) When making a contract pursuant to Sub-section (1), in addition to the provisions mentioned in the prevailing law relating to contracts, the businessperson shall disclose in such contract necessary information, terms and conditions including providing, cancelling, returning, exchanging, warranty and guarantee, and refund of the goods or services to the buyer. 8. Payment for Electronic Commerce: (1) While conducting electronic commerce pursuant to this Act, arrangements may be made for the buyer to make payment to the businessperson or, on behalf of the businessperson, to the carrier, before or after the purchase or delivery of the goods or services, or at the time of purchase or delivery.
Electronic Commerce (E-commerce) Act, 2024

If payment is made to the carrier in such manner, it shall be deemed that the businessperson has received the payment.

(2) While making payment of the amount pursuant to Sub-section (1), payment instruments pursuant to the prevailing Federal law relating to payment and settlement may be used.

(3) Where payment has been made pursuant to Sub-section (2), a bill invoice for the goods or services and an electronic or physical receipt for the payment made shall be immediately provided to the buyer, and a record thereof shall be kept. Payment made in such manner shall be deemed to have been duly made.

(4) Notwithstanding anything contained elsewhere in this Section, the purchase or sale of any goods or services in foreign currency shall be done subject to the prevailing Federal law. 9. Delivery of Goods or Services: (1) The businessperson shall deliver or cause to be delivered the requested goods or services to the buyer or their representative at the place specified in the contract with the buyer and within the specific day, time or period mentioned in the contract.

(2) When delivering goods or services pursuant to Sub-section (1), if the buyer or their representative wishes to receive them physically from any sales center of the businessperson, the goods or services shall be delivered to them from that same center.

(3) If goods or services are delivered pursuant to Sub-section (1) or (2), it shall be deemed that the goods or services have been duly delivered.

(4) Notwithstanding anything contained in Sub-section (2), if before the requested goods are dispatched, the buyer or the businessperson wishes to change the place, person, period or time of delivery, and if both parties agree on the matter, the businessperson shall deliver at the changed place, to the changed person, or within the changed period or time.

(5) If the place or period is changed pursuant to Sub-section (4), the fee therefor may be increased or decreased by mutual agreement between the buyer and the businessperson. 10.